On 19 December 2017, Yapian, the owner of South Korean exchange Youbit, filed for bankruptcy after suffering two hacks that year.[198][199] Customers were still granted access to 75% of their assets. Cryptocurrencies are used primarily

Ethereum uses a blockchain, which is a distributed ledger (like a database). Information is stored in blocks, each containing encoded data from the block before it and the new information. This creates an encoded chain