Cryptocurrency Industry

The cryptocurrency industry is built around cryptocurrency, a type of digital asset that uses distributed ledger, or blockchain, technology to enable secure transactions. Individual coin ownership records are stored in a digital ledger or blockchain, a computerized database that uses a consensus mechanism, most commonly proof of work or proof of stake, to secure transaction records, control the creation of additional coins and verify the transfer of ownership. Despite the name, cryptocurrencies are not considered currencies in the traditional sense, and jurisdictions vary in treating them as commodities, securities or currencies; in practice they are generally viewed as a distinct asset class.