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Introduction to Cryptocurrency

Cryptocurrency is a type of digital currency based on blockchain technology, characterised by decentralisation, anonymity, and borderless portability. Here are the main features of cryptocurrency:

1. Decentralisation: Cryptocurrency does not rely on banks or third parties to conduct transactions; it occurs directly between users, known as a peer-to-peer network.

2. Anonymity: Users can make payments without revealing their identity.

3. Blockchain Technology: Cryptocurrency uses blockchain technology to verify and store transactions, ensuring their security and transparency.

4. Encryption: The information on the blockchain is encrypted, and only the owner of each cryptocurrency can decrypt it.

5. Private Key: Each cryptocurrency owner has a private key used to decrypt their cryptocurrency.

6. Mining: The issuance and maintenance of cryptocurrency rely on the mining process, where miners solve mathematical problems through computer calculations to earn cryptocurrency.

7. Diverse Types: There are various types of cryptocurrencies, including Bitcoin, Litecoin, Ethereum, etc., each with its unique features and use cases.

8. Use Cases: Cryptocurrency can be used in multiple scenarios, such as cross-border payments, trading media, and safe-haven assets.

In summary, cryptocurrency is a digital currency based on blockchain technology, characterised by decentralisation, anonymity, and borderless portability, suitable for various application scenarios.