Cryptocurrency is a decentralised medium of exchange with a distributed type of emission. Cryptocurrencies work through blockchain technology and are protected by special encryption. Breaking down the definition into its components will help describe a complex term in simple words.
Definition of a smart contract. How smart contracts work on the Blockchain. Examples of use and possibilities of smart contracts, the future of the technology.
Because safety is guaranteed by ALL users at the same time – there is no need for other intermediaries or central clearing system. You can always send bitcoin packages worldwide directly to a recipient via blockchain system without having to wait for an approval or pay any transaction fees.