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Anonymous asked in Computers & InternetProgramming & Design · 2 months ago

What Is The Main Purpose Of Cryptocurrency?

5 Answers

  • 2 months ago

    A cryptocurrency, crypto currency or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation of additional coins.

  • ?
    Lv 6
    2 months ago

    A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions.

  • i + i
    Lv 7
    2 months ago

    Its "purpose" is to be a currency that is 

    1) Secure (nearly impossible to counterfeit or double-spend). 

    2) Universal (nearly instantly available almost everywhere in the world by virtue of it being digital).

    3) Immune to government interference or manipulation (generally not "issued" by any central authority).

    There are other reasons for it existing, but the above are considered "main".

  • Anonymous
    2 months ago

    To prevent government control of the flow of illegal transactions. Criminals, drug dealers and malware authors love it.

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  • Murzy
    Lv 7
    2 months ago

    a universally accepted currency

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