What is a blockchain and how does it relate to Cryptocurrency?

Blockchain technology is a digital ledger that records transactions in a secure and efficient manner. It stores information in a series of blocks; each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The data stored in the blockchain is not editable or deletable and is not centrally controlled by any single entity. This allows users to securely transfer funds, verify contracts, and access other applications without the need for a third-party intermediary.

Cryptocurrency is a type of digital currency that utilizes blockchain technology to create and secure transactions. Cryptocurrency utilizes encryption techniques to regulate the generation of units of currency and verify the transfer of funds. Each transaction is recorded and added to the public ledger that is stored on a decentralized network of computers. This system provides a high level of transparency, trust, and security for all transactions.