Crypto currencies like Bit coin and Ethereum are powered by a technology called the block chain. At its most basic, a block chain is a list of transactions that anyone can view and verify. The Bit coin block chain, for example, contains a record of every time someone sent or received bit coin. Crypto currencies and the block chain technology that powers them make it possible to transfer value online without the need for a middleman like a bank or credit card company.
Imagine a global, open alternative to every financial service you use today, accessible with little more than a smartphone and internet connection.
Almost all crypto currencies, including Bit coin, Ethereum, Bit coin Cash, and Lite coin, are secured via block chain networks. Which means their accuracy is constantly being verified by a huge amount of computing power.
The list of transactions contained in the block chain is fundamental for most crypto currencies because it enables secure payments to be made