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Cryptocurrency is a digital or virtual form of currency that uses cryptography for security and operates on a decentralized system using blockchain technology. Blockchain serves as a distributed ledger that records all transactions across a network of computers, eliminating the need for a centralized authority such as a bank or government. The first and most well-known cryptocurrency, Bitcoin, introduced in 2009 by an anonymous entity known as Satoshi Nakamoto, pioneered the use of blockchain and the proof-of-work consensus mechanism.

This decentralized nature of cryptocurrencies allows for secure, transparent, and tamper-resistant transactions. Cryptocurrencies can function both as a store of value and a medium of exchange for goods and services. The industry has grown to include thousands of different cryptocurrencies with various features and specifications. Some follow Bitcoin’s model of decentralized, proof-of-work systems, like Bitcoin Cash and Litecoin, while others use alternative consensus mechanisms like proof-of-stake, seen in cryptocurrencies like Tron and Tezos.

The cryptographic foundation of these currencies ensures the integrity of transactions and the prevention of issues like double-spending. Cryptocurrencies have gained significant recognition for their potential to revolutionize financial systems by providing a digital, borderless medium of exchange independent of traditional banking infrastructures.

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Zero Knowledge Proof

Zero-Knowledge Proof (ZKP): A cryptographic method allowing an entity to prove the truth of a statement without revealing any additional information.

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Year to Date (YTD) in the realm of cryptocurrency refers to a vital metric that assesses the performance of a digital asset within a specific calendar year, spanning from January 1st to the current date.

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Yield Farming

Yield Farming is an investment strategy in the realm of decentralized finance (DeFi) where cryptocurrency holders provide their assets to a DeFi protocol to earn returns, often in the form of additional tokens.

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