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11/16/2024 3:28:13 PM (GMT+1)

How does the cryptocurrency transaction system work?

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Cryptocurrency transactions are based on the principles of blockchain technology, which ensures the security and anonymity of operations. Each transaction is recorded in a block, which is then added to the chain of blocks. These records are protected by cryptography, making them impossible to forge or alter. When a user sends cryptocurrency, their request is verified through mining or staking, depending on the type of network. After the transaction is confirmed, the block with the transaction information is added to the blockchain, and the funds are transferred to the recipient.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



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