FTX

About FTX: 

• FTX is short for "Futures Exchange”.
• FTX is one of the biggest exchanges where trading those digital assets took place, and was touted by regulators and market watchers as one of the most transparent crypto operations.
• A crypto exchange is in the business of helping customers buy and sell cryptocurrencies.

Cryptocurrencies:

• A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
• Many cryptocurrencies are decentralized networks based on blockchain technology - a distributed ledger enforced by a disparate network of computers.
• A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people.
• It allows transactions to have public "witnesses".
• Any changes or additions made to the ledger are reflected and copied to all participants in a matter of seconds or minutes.
• A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

 

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Source : Indian Express