A cryptocurrency is a peer-to-peer, decentralized, digital currency whose implementation relies on the principles of cryptography to validate the transactions and generation of the currency itself.[1][2] At present, all cryptocurrencies are alternative currencies, as no nation has adopted a cryptocurrency alternative to fiat money. Cryptocurrency implementations often use a proof-of-work scheme to guard against digital counterfeiting. While over 30 different cryptocurrency specifications and protocols have been defined, most are similar to and derived from the first fully implemented cryptocurrency, Bitcoin.
