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Cryptocurrency

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.

Distributed Ledger Technology (DLT)-based digital assets are a superset that includes: Coins, which are Layer 1 (L1) digital assets with their own blockchains, such as Bitcoin or Bitcoin forked coins (Namecoin, Litecoin, Dogecoin), Non-Bitcoin Blockchain (i.e. Ether, Ripple, Omni) or even Non-Blockchain (IOTA, Byteball, Nano etc) and Tokens, which are Layer 2 (L2) digital assets, built on top of L1 blockchains usually through smart contract technology, such as ERC20, ERC721 (Non-fungible tokens) and Non-ERC standards (TRC20, BEP-2 etc).

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