Cryptocurrencies are digital assets backed by blockchain. Blockchain technology stores a ledger of every crypto asset transaction on every node that drives the blockchain. Nodes are computers connected to the Bitcoin network for mining crypto assets, such as Bitcoin. If any of the miners tries to enter a fake transaction, the transaction will be canceled by the correct ledger.

The correct ledger is determined by most of the record miners. In theory, you can hack a blockchain by controlling 51 percent of the crypto asset blockchain network in a process called a 51% attack.

To make transactions or trades using crypto assets, you must have a set of public and private keys. These two keys are passwords generated by your crypto asset wallet. Your public key is linked to your wallet address and can make it easier for anyone to send you any number of crypto assets. While the private key is used to approve transactions sent from your wallet and only you have access to your private key.