What is blockchain in cryptocurrency?

Blockchain in cryptocurrency refers to the underlying technology that powers cryptocurrencies such as Bitcoin, Ethereum, and many types of cryptocurrencies.

In the case of cryptocurrencies, blockchain is the foundation that makes these digital currencies possible.

Every cryptocurrency transaction is recorded on the blockchain, which is verified by a globally distributed network of independent nodes.

This process helps ensure that all transactions are transparent, traceable, and secure, limiting issues such as double spending or fraud.

The combination of cryptography and distributed consensus mechanisms allows blockchains to operate autonomously, creating a system where users can transact directly with each other in a trustless manner.

As a result, blockchain technology has become the backbone of the cryptocurrency industry, enabling everything from simple peer-to-peer payments to complex decentralized financial applications.