Cryptography is a special data encryption technology used in cryptocurrency ecosystems and other electronic database systems.

Cryptocurrency systems are implemented on conditions fundamentally different from the fiat financial system. To maintain all stated conditions at the proper level, to ensure maximum reliability of each transaction and the safety of the use of funds by each user, a unique Cryptography technology is used.

Purposes and conditions of use

If you pay attention to the translation, the word crypto means secret. This makes it possible to draw logical conclusions that Cryptography is a system based on specific data encryption algorithms. It is used when exchanging data when two or more ecosystem users interact. Through this algorithm, the safety and reliability of all monetary transactions are ensured, and the participation of an intermediary is not required, as in the banking system. All user data is strictly confidential, and information about them is not transferred to third parties.

Benefits of Cryptography Technology

Cryptographic encryption provides the following benefits to each participant in the system:

• there is no need to know the details of the person with whom you are interacting - transactions are made on the condition of anonymity;
• no need for an intermediary to complete a transaction and confirm it as legitimate.

However, this method is not only used in digital coin transactions. The cryptographic encryption method is also used in processes that occur between users’ PCs and the network.