How Cryptocurrencies Work

Cryptocurrencies work through blockchain technology, a distributed ledger system where all transactions are stored in interconnected blocks.

When a person sends cryptocurrency to another, this transaction is transmitted to the network and needs to be validated by computers called nodes.

In many cryptocurrencies, such as Bitcoin, this process occurs through mining, where computers solve complex mathematical calculations to confirm transactions and add new blocks to the blockchain.

Once recorded, the transaction becomes virtually impossible to alter.

Users store their cryptocurrencies in digital wallets, which can be:

• Online wallets
• Mobile applications
• Physical wallets (hardware wallets)

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