A cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies, and are also classified as a subset of alternative currencies and virtual currencies. For the cryptocurrency ecosystem, 2017 was seemingly a breakthrough year, as the surging bitcoin price brought droves of new investors into the space.

Source: CNBC.com