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The Big Story

Don't understand cryptocurrencies? You're not alone

From bitcoin to blockchain, our glossary helps decode this high-tech trend

KEN KOYANAGI, Editor-at-large, Nikkei Asian Review | China

Bitcoin and cryptocurrency

Cryptocurrencies are based on modern cryptology technology rather than on physical materials, like precious metals or paper money. Bitcoin and other existing cryptocurrencies are managed by a network of computers scattered around the world with no central authority -- unlike conventional fiat currencies, which are controlled by central banks.

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