How does blockchain technology enable secure transactions in cryptocurrency?

Blockchain technology enables secure transactions in cryptocurrency by providing a decentralized and distributed digital ledger that records all transactions. When a user initiates a transaction, it is broadcast to the entire network of nodes on the blockchain. The nodes verify the transaction using a consensus mechanism, such as proof of work or proof of stake, and add it to the ledger in the form of a new block.

Each block in the blockchain contains a cryptographic hash of the previous block, creating an immutable and tamperproof chain of blocks. The use of cryptography ensures that transactions are secure and cannot be altered once they are added to the blockchain.

In the case of cryptocurrency, the ownership of coins or tokens is associated with specific public and private keys that are used to sign and verify transactions. These keys are used to initiate transactions and verify ownership, ensuring that only the rightful owner of a particular coin or token can transfer it.