How does cryptocurrency actually work?

I keep hearing about Bitcoin and other cryptos, but I’m still a bit confused on how it all works. How is it created, and why does it have value?

Great question! Crypto runs on blockchain, a secure digital ledger. New coins are mined by solving complex puzzles, and their value comes from supply, demand, and trust. It’s a fascinating space!

Cryptocurrency works through blockchain technology, a decentralized digital ledger that records transactions across multiple computers. Users exchange digital coins or tokens using cryptographic keys to ensure security. Transactions are verified by network participants (miners or validators) through consensus mechanisms like Proof of Work or Proof of Stake.

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Bitcoin and other cryptocurrencies are created through a process called mining, where powerful computers solve complex mathematical problems to validate transactions on the blockchain. This process ensures the security and decentralization of the network. As for value, it comes from supply and demand, similar to any currency or asset. The more people believe in its utility and adopt Geometry Dash, the higher its value tends to be. But since it’s decentralized and not controlled by a government, its value can also be volatile.