Cryptocurrency

Digital money secured by cryptography and validated on a decentralized network instead of by a bank or government.

A cryptocurrency is a digital asset that runs on a blockchain and uses cryptography to secure transactions and control how much can exist. Bitcoin was the first; thousands now exist, each serving different purposes.

Coins vs tokens

A coin has its own blockchain (BTC, ETH, SOL). A token lives on top of someone else’s chain (USDT on Ethereum, DAI, most governance assets). Coins pay for the network’s own security; tokens represent value issued by a project.

Why decentralization matters here

The whole point of cryptocurrency is that no issuer can freeze your balance, print extra units, or reverse a payment. How decentralized an asset really is — who can change its rules — is exactly what the W3D audits measure.

Related terms

Bitcoin, Token, Exchange, Wallet, Stablecoin, Self-Custody