Blockchain technology is at the core of cryptocurrency and has revolutionized the way digital transactions are recorded. But what exactly is blockchain, and how does it work?At its simplest, blockchain is a decentralized ledger of all transactions across a network. Rather than being stored in a single location, the ledger is distributed across many computers, ensuring transparency and security. Each record or "block" is linked to the previous one, creating a chain of data that is incredibly difficult to alter.Key Features of Blockchain:Decentralization: Unlike traditional financial systems that rely on central authorities, blockchain operates on a peer-to-peer network, which reduces the risk of fraud and manipulation.Transparency: All participants in the blockchain network can view the records, making it transparent and accessible.Security: Blockchain uses advanced cryptography to secure data, ensuring that transactions are tamper-proof.How Blockchain Powers Cryptocurrencies:When you make a cryptocurrency transaction, like sending Bitcoin, it is recorded on the blockchain. The decentralized network verifies the transaction, ensuring its authenticity before adding it to the chain. This process eliminates the need for intermediaries like banks, reducing transaction fees and speeding up processes.As blockchain continues to evolve, its applications extend beyond cryptocurrency. Industries such as supply chain management, healthcare, and voting systems are also exploring how blockchain can improve efficiency and security.Blockchain is the backbone of cryptocurrency, ensuring that digital transactions remain secure, transparent, and trustworthy.