Blockchain technology is a decentralized, secure digital ledger that records transactions across multiple computers. This technology is the backbone of cryptocurrencies like Bitcoin and Ethereum, enabling secure peer-to-peer transactions without intermediaries. Blockchain’s transparency and security have made it popular not only for cryptocurrencies but also for applications in supply chain management, voting systems, and more.
Cryptocurrencies, powered by blockchain, offer a digital alternative to traditional currencies, with Bitcoin being the most well-known. Other cryptocurrencies like Ethereum are gaining traction for their smart contract capabilities, which allow automated agreements to be executed without human intervention.