A cryptocurrency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
Bitcoin is the world’s first decentralized ledger currency. It has received a huge success with an outstanding response from the worldwide communities. Not only that, also the Bitcoin success has covered the way for new cryptocurrencies. The best feature of Bitcoin is it is open source so that anyone can use the original Bitcoin source code (available at free). This facilitates to create a new similar cryptocurrency. These cryptocurrencies are known as Bitcoin clones.