What does crypto mean in the currency circle?

Cryptocurrency.

‌Crypto refers to cryptocurrency, which is a digital currency that uses cryptography to secure transactions and control currency issuance. ‌The core features of cryptocurrency are decentralization and security. Decentralization means that it has no central management agency, and through distributed ledger technology, every user can participate in the maintenance and management of the system. This design ensures the transparency and security of transactions, because all transaction records are recorded on an unalterable blockchain. ‌

Historical background of cryptocurrency:

The concept of cryptocurrency originated from the birth of Bitcoin in 2009. Bitcoin is the world's first decentralized cryptocurrency, and many similar cryptocurrencies have emerged, commonly known as altcoins.

Basic features of cryptocurrency:

‌Decentralization‌: Cryptocurrency has no central management agency, and the security and maintenance of the system are ensured through distributed ledger technology.

‌Security‌: The transaction process uses cryptography technology to protect user privacy and prevent manipulation and fraud.

‌Transparency‌: All transaction records are public and unalterable, ensuring the transparency and credibility of transactions.

Application scenarios and development trends of cryptocurrency:

Cryptocurrency is increasingly used in the financial field. Many large financial institutions such as Citibank and China Merchants Bank have begun to invest in cryptocurrency in the field of Internet finance. In addition, the combination of cryptocurrency technology and Internet technology has provided innovative solutions for industries such as financial supply chain, financial transactions, and financial payments. As global attention to cryptocurrency continues to heat up, more and more countries and companies are beginning to accept this emerging technology.