What are cryptocurrencies?
CRYPTOCURRENCIES
Cryptocurrencies are cryptographic tokens that exist on distributed computer networks. They allow anyone to freely exchange value and information without the need for third parties, facilitating peer to peer exchange without any central points of failure or control. The underlying technology that has made this possible is known as blockchain or distributed ledger technology.
BLOCKCHAIN
Blockchains are distributed computer networks, consisting of participants that verify, maintain and secure all transactions and changes made within the network. Information saved on a blockchain cannot be changed, creating an immutable history. That is why blockchains are ideal for the digital representation of value, without the problem of double spending.
Blockchain explained
Blockchains are public ledgers where all transactions and changes are grouped in blocks. Together these blocks form a chain, representing the complete history of the ledger. This is where we get the term blockchain from.
This short video explains what a blockchain is and what different innovations we can expect utilising this technological breakthrough.
Secure and trustworthy
Due to their decentralized nature, cryptocurrencies cannot be manipulated by any one party.
Store of value
Because of their guaranteed and predictable supply, cryptocurrencies are well suited as a store of value.
Fast and borderless
Payment with cryptocurrency is faster and much less expensive than traditional payment solutions.
Total control and ownership
Control of cryptocurrencies lies completely with the owner, totally independent from any authority.