The first and most well-known cryptocurrency is Bitcoin, which was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto
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Cryptocurrencies operate independently of central banks and governments, and transactions are processed through a decentralized network called a blockchain
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The blockchain is a public ledger that records all transactions on the network and is maintained by a network of nodes or computers
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Cryptocurrencies can be used for a variety of purposes, including buying goods and services, investing, and as a store of value
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Some of the most popular cryptocurrencies after Bitcoin include Ethereum, Ripple, Litecoin, Bitcoin Cash, and Tether
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The total market capitalization of all cryptocurrencies combined reached an all-time high of over $2 trillion in April 2021
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The value of cryptocurrencies can be volatile and subject to sudden price swings due to various factors such as investor sentiment, regulatory changes, and media coverage
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Cryptocurrencies have been subject to controversy and criticism due to concerns about their potential use for illegal activities such as money laundering and tax evasion