When using cryptocurrency, transactions are recorded on a public digital ledger known as a blockchain. This ledger keeps track of the sender’s and recipient’s public keys (their unique alphanumeric identifiers) as well as details about the transaction such as its value, the type of cryptocurrency sent, and the time and date it was sent. Whenever a user sends cryptocurrency, their wallet requests a new address from the blockchain and assigns it to the recipient. The user then signs off on the transaction with their private key before sending it back to the blockchain to be added to the ledger. All transactions are verified by miners, who make sure that coins aren’t being double spent and ensure the accuracy of the blockchain. Once the transaction is verified, it is added to the blockchain and is irreversible.