Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger enforced by a network of computers (or nodes). Cryptocurrencies are designed to work as a medium of exchange, enabling peer-to-peer transactions without the need for intermediaries such as banks or governments.
One of the key features of cryptocurrencies is their decentralized nature, meaning they are not controlled by any central authority, making them resistant to government interference or manipulation. Common characteristics include anonymity, transparency, and security through cryptographic techniques.
Bitcoin, created in 2009, was the first cryptocurrency and remains the most well-known and widely used. Since then, thousands of cryptocurrencies have emerged, including Ethereum, Ripple, and Litecoin, each with unique features and applications.
Cryptocurrencies can be used for a variety of purposes, including online purchases, investment, and enabling smart contracts and decentralized applications. However, they also come with challenges, including regulatory concerns, market volatility, and security risks.
Accusations arose against Binance for alleged market manipulation following large token movements of Solana (SOL) and Ethereum (ETH). Scrutiny intensified when February 24th transactions were linked to Wintermute, a market…