The reason there are so many cryptocurrencies is because it's extremely easy to create one. New tokens are constantly coming to market. According to CoinMarketCap, there were 13,669 cryptocurrencies as of late 2021. There are thousands of cryptocurrencies available, and thousands more that are now defunct. That prevents hackers from producing fraudulent transaction records and establishes trust among users. Transactions verified by blockchain technology are immutable, meaning they cannot be changed. Instead, ledgers of cryptocurrency transactions are publicly maintained. The validity of cryptocurrency is established and maintained without any involvement by the world's central banks. The global financial system, as a collective entity, has historically been responsible for establishing and ensuring the legitimacy of monetary transactions. Since digital information is easily copied, digital money requires a mechanism that reliably prevents a currency unit from being 'duplicated' or otherwise spent more than once. Specifically, blockchain solves the 'double-spending problem' associated with digital cash. Blockchain is the technology that enables cryptocurrency to work like government-issued (fiat) currencies without the involvement of any central bank or trusted third party. In a 2008 white paper entitled, 'A Peer-to-Peer Electronic Cash System,' Nakamoto provides the first description of blockchain. The first cryptocurrency, Bitcoin ( CRYPTO:BTC), was developed in 2009 by a programmer using the pseudonym Satoshi Nakamoto. There are thousands of different cryptocurrencies in circulation, each with varying values. But, by the end of this overview, you won't need a decryption key to understand crypto. That definition might seem downright cryptic right now. Instead, it uses cryptography to confirm transactions on a publicly distributed ledger called a blockchain. Cryptocurrency is a digital currency that doesn't rely on central banks or trusted third parties to verify transactions and create new currency units.

What does the crypto locker message say