Blockchain is the foundation on which cryptocurrencies operate, ensuring their security and transparency. Each block in the chain contains information about transactions, which are confirmed and recorded distributively across the network. This makes cryptocurrencies decentralized, eliminating the need for intermediaries such as banks. The advantage of blockchain is that it is protected from falsification: data in the blocks cannot be changed without the agreement of the entire network. Thus, cryptocurrencies use blockchain to create a trusted and immutable system for transferring funds, minimizing risks and ensuring user anonymity.
11/18/2024 3:03:53 PM (GMT+1)
How do cryptocurrencies use blockchain?


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