A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. They are a kind of alternative currency and digital currency. The most common one is Bitcoin followed by Ethereum, Ripple, Eos and many others.
Since the release of Bitcoin and increased popularity, hundreds of new cryptocurrencies have been released. Most are derived from Bitcoin’s open source code, but with variations such as a larger currency feed limits and different hash algorithms.