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When talking about cryptocurrencies one should also mention the technology behind them - blockchain.
Blockchain is a digital ledger that records all cryptocurrency transactions in a secure and tamper-proof way. It is the backbone of cryptocurrency.
This is possible because each transaction is verified by multiple computers (also known as nodes) on the network before it is approved. Once a transaction has been verified, it is then recorded on the blockchain where it cannot be changed or deleted.
This makes blockchain an incredibly valuable tool for both individuals and businesses as it provides a high level of security and transparency. For example, let's say you're sending some Bitcoin to a friend. Thanks to blockchain, your friend can be confident that the Bitcoin they receive is genuine and that it hasn't been tampered with in any way.