Cryptocurrencies, Coins, and Tokens
A cryptocurrency—a hybrid of the words, cryptography and currency—is a digital or virtual currency, unit of account, or medium of exchange, managed and secured by cryptography. Most cryptocurrencies are built on blockchain networks and are decentralized, providing immutability and transparency, without requiring a central authority or trusted third party.1
There are two main types of cryptocurrencies: Bitcoin and altcoins. Altcoins—alternative coins—are simply all other non-Bitcoin cryptocurrencies. And then there are tokens. Tokens are special altcoins created for use by specific enterprises and their investors or users. They are often issued as security tokens during the start-up ...
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