Blockchains are the driving force behind cryptocurrency transactions, enabling individuals to send and receive funds without the support of an intermediary, such as a bank.
These “on-chain” transactions provide strong security and transparency, as they all take place out in the open. They’re verified and recorded on the blockchain, which is a distributed ledger that everyone can see. Once a transaction has been added to the blockchain, it cannot be reversed or changed.
It’s the blockchain that allows crypto to be fully decentralized, eliminating the need for banks and stopping governments from censoring transactions or seizing anyone’s funds.
There are some downsides to blockchain, though.
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