Published in: Blog

What is blockchain technology, and how does it relate to cryptocurrencies?

Author Mr Miner X

Published on: December 30, 2024

Blockchain technology is the foundation of cryptocurrencies like Bitcoin and Ethereum. It’s a decentralized digital ledger that records all transactions across a network of computers. Each “block” contains transaction data, and these blocks are linked together in a “chain,” ensuring transparency and security. Cryptocurrencies rely on blockchain to prevent fraud, double-spending, and unauthorized changes, making them secure and trustless systems for financial and other data exchanges.