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Cryptocurrencies are defined as digital currencies developed through cryptographic protocols that make transactions with this type of goods secure and difficult to counterfeit. The most important feature of cryptocurrencies stems from the fact that cryptocurrencies are not controlled by any centralized authority: the decentralized nature of blockchains makes them virtually immune to the old government's ways of controlling and intervening in the financial field.
Cryptocurrencies make any activity easier to perform, for example transfers are simplified by using both public and private keys to ensure security and other issues related to the nature of the confidentiality of the transaction. These transfers can be made with the collection of minimum processing fees, allowing users to avoid the significant fees charged by traditional financial institutions. However, according to the latest news in the field of cryptocurrencies, it has been pointed out that since these goods lack an effective storage space, the balance of a cryptocurrency can be easily destroyed by a computer error, a cyber attack, or another. kind of unexpected events.
