What is it?
A crypto-currency (a decentralized digital currency type) is a mean of exchange that uses blockchain technology and encryption to ensure the validity of transactions and new currency creation units. Bitcoin, the first decentralized cryptocoin, was created in 2009 by a user who used the pseudonym Satoshi Nakamoto. Since then, many other crypto-coins have been created. More recently, there has been an explosion of countless tokens that have been created based on the Ethereum protocol, especially after the massive Initial Coin Offering (ICO) wave that occurred in 2017.
Unlike centralized banking systems, most cryptocoins use a decentralized control system based on blockchain technology, which is a type of distributed log book operated on a peer-to-peer thousands of computers, all of which have an equal copy of the entire transaction history, preventing a central entity from promoting registration changes or software unilaterally without being excluded from the network.