Virtual currency is basically any digital money that people can use for transactions, usually just within a specific app or community online. Some common examples are in-game currencies, like V-Bucks in Fortnite or gems in Clash of Clans. These are controlled by the game developers.

Cryptocurrencies are different, because no single entity controls them. The big ones you might have heard of are Bitcoin and EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.. These run on public blockchains – basically decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... public ledgers that record every transaction. There’s no central bank or government in charge of crypto. Instead, it’s maintained by a network of computers distributed around the world.