Unraveling the World of Cryptocurrencies

They are controlled by a central authority

They are considered to be currencies in the traditional sense

They rely on traditional intermediaries like banks

They use strong cryptography to secure transaction records (correct)

To ensure the creation of additional coins

To rely on a central authority for transaction verification

To classify cryptocurrencies as securities

To eliminate the need for traditional intermediaries (correct)

In a physical ledger

In a government-controlled database

In a computerized database using strong cryptography (correct)

In a centralized database

<p>They are viewed as a distinct asset class</p> Signup and view all the answers

<p>To secure transaction records and verify coin ownership</p> Signup and view all the answers