What is cryptocurrency?

Cryptocurrency (or just Crypto) is a type of digital money that uses encryption techniques to secure transactions and control the creation of new units. Unlike traditional currencies, cryptocurrencies are decentralized, meaning they are not regulated by a government or financial institution. Some examples of well-known cryptocurrencies include Bitcoin and Ethereum.

Individuals can send and receive payments through digital wallets using, therefore, cryptocurrencies. The transactions are recorded on a public ledger called a blockchain, making it transparent and difficult to manipulate. Cryptocurrencies offer people a new way to store and exchange value in a fast, secure, and global manner.

Every transaction linked to the Seletti x Absolut Born To Mix3D project is based on a specific Cryptocurrency: the Ethereum.

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Ethereum is a type of digital currency. However, Ethereum is more than just a currency, it’s also a platform for building decentralized applications.
A decentralized application is a program that runs on a network of computers, rather than just one central computer. Not being controlled by any single entity, it is more secure and less likely to suffer from downtime or hacking attacks.
The Ethereum network is powered by a cryptocurrency called Ether (ETH), which is definitely the most popular digital currency along with the Bitcoin. Ethers are used to pay for the computation and storage required to run the decentralized applications built on the platform. Overall, Ethereum provides a powerful platform for creating decentralized applications and conducting secure transactions, making it a crucial player in the world of blockchain technology.
Ethereum is a revolutionary technology, this is why we decided to use it for every transaction of the Seletti x Absolut Born To Mix3D project.