Cryptocurrency in simple terms is a peer-to-peer electric cash system where instead of a trust being used like most banks or financial institutions, it is a proof system allowing online payments to be sent directly from one party to another without going through a financial institution. Essentially making Cryptocurrency a currency that isn't ruled under any government.

The first cryptocurrency is Bitcoin. Bitcoin was the first idea of the peer-to-peer electric cash system, which is now used in most cryptocurrencies to this day. The creator of Bitcoin Satoshi Nakamoto made a Bitcoin Whitepaper that explains the first idea of Bitcoin.