What is cryptocurrency and how does it work? Use Bitcoin as an example.

Cryptocurrency is a form of digital money that can be used on the internet and is not backed by a central banking system. Cryptocurrencies run on a distributed public ledger called blockchain, a record of all transactions updated and held by currency holders. Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complicated mathematical problems that generate coins.

Explanation:

Cryptocurrency is a string of encrypted data that is used at a form of currency. It uses a network called a block-chain, which helps ensure that it is secure as a form of currency.

Bitcoin is this form of digital currency, and is free from the control and grasp of the government and banks. It instead uses cryptography. Instead of a banking record, transactions are recorded through public records on a variety of servers revolving the globe.

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in "people in peace, not profit and war" chrisholm uses inductive reasoning for her argument against defense spending by stating that the new administration, like most americans, wanted to invest in social objectives, so they must not want to prioritize defense spending. mr. nixon said "we can delay no longer in launching new approaches to the problem that beset them", but chrisholm points out that the programs were delayed anyways.