Cryptocurrency

Cryptocurrency is a digital asset that uses cryptography and blockchain technology to record ownership and transfer value. Many cryptocurrencies are designed for payments. Other use cases include powering blockchain networks, smart contracts, decentralized applications, or token systems. A cryptocurrency can be sent between wallet addresses without using traditional payment networks. Cryptocurrency transactions are recorded on a blockchain or a similar distributed ledger. Network participants verify activity according to the protocol’s specific rules, which vary from one to another. As of May 2026, there are an estimated 10,000 to 17,000 cryptocurrencies that are actively trading, but the total number of cryptocurrencies in existence spans over 50 million.

Bitcoin is the first cryptocurrency and was created for peer-to-peer transfers of value. Ethereum, one of the largest cryptocurrencies by market capitalization, supports a broad ecosystem of programmable applications.