# What are Cryptocurrencies?

By [Millionairelifestyle.eth](https://paragraph.com/@millionairelifestylecrypto) · 2022-11-06

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**What is crypto ?**

A cryptocurrency is a digital money that is decentralised and does not rely on a bank or central body to validate transactions. This means that no single central authority has complete control over a cryptocurrency network, making regulation and oversight impossible to implement. Any cryptocurrency is built on top of a specifically designed decentralised programme that uses blockchain technology to keep a public ledger that each node on the network copies. This approach gives the ledger the advantage of being tamper resistant, making the entire system impervious to alteration.

**What is Blockchain Technology ?**

It’s a collection of records that can continue to grow endlessly. To handle the movement of data between multiple nodes(also called as blocks), blockchain employs peer-to-peer networking.

“Blockchain” is a chain of blocks, as the name implies. Depending on the application’s design, the number of blocks can vary. A block is a programme instance, and numerous instances of the same programme can run on the same machine or on different machines. Different algorithms are used to find the address of a particular block in the entire chain. Each block has an address of a block preceding it, as well as the block succeeding it. Each block keeps the same data as the others, and whenever there is a legitimate addition of data on the network, it is distributed to all blocks, who update their copies of the ledger accordingly.

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*Originally published on [Millionairelifestyle.eth](https://paragraph.com/@millionairelifestylecrypto/what-are-cryptocurrencies)*