jasper
Member
Blockchain technology boosts the security of cryptocurrency transactions by using cryptographic techniques to ensure that once a transaction is recorded, it cannot be altered or deleted. Each transaction is verified by a decentralized network of computers (nodes), making it resistant to fraud and hacking attempts. The lack of a central authority eliminates single points of failure, enhancing overall security. Transparency is achieved because all transactions are recorded on a public ledger accessible to anyone, promoting accountability. This open ledger allows users to independently verify transactions, fostering trust in the system.