1. Transaction Initiation:
When someone wants to send cryptocurrency, they use a digital wallet to initiate a transaction. This transaction is then broadcast to the network.
2. Blockchain Verification:
The transaction is added to a new block on the blockchain. This block is then verified by miners (individuals who use computer power to solve complex mathematical problems and add blocks to the blockchain).
3. Consensus Mechanism:
Once verified, the transaction is added to the blockchain and is permanently recorded. This record is shared across the entire network, making it transparent and tamper-proof.
4. Security:
Cryptography ensures the security of the transactions and the integrity of the blockchain.
5. No Central Authority:
Unlike traditional currencies, cryptocurrencies are not controlled by a central authority, meaning no government or bank is in charge of their issuance or regulation.
6. Decentralized Ledger: $BTC
The blockchain acts as a public ledger, recording all transactions and the ownership of each cryptocurrency unit.
7. Digital Wallet:
Cryptocurrency is stored in digital wallets, which are software or hardware applications that hold your private keys, allowing you to access and manage your funds.
8. Transparency and Auditability:
Because the blockchain is publicly accessible, everyone can see a record of all transactions, adding transparency to the system.
In essence, cryptocurrency operates on a peer-to-peer network, using encryption and blockchain technology to facilitate secure, verifiable, and decentralized digital payments. #TrumpTariffs #BinanceAlphaAlert #TrumpVsMusk #MarketRebound #CryptoCharts101 $BTC $BNB 
