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EU Blockchain Observatory and Forum

What is a cryptocurrency and how is it related to blockchain?

The term cryptocurrency refers to a decentralized, digital currency running on a blockchain. The name is derived from the fact that cryptographic techniques are employed to create, transfer and secure the currency. Generally, cryptocurrencies function without any central authority. Because transfers of funds typically take place directly between parties and are immediate and irreversible, you can think of cryptocurrencies as digital cash.