The technology behind cryptocurrencies works through a decentralized network utilizing blockchain technology. Each transaction is recorded on a public ledger called a blockchain, which is secured using cryptographic algorithms that ensure transparency and prevent fraud. The process involves mining, where powerful computers solve complex mathematical problems to validate transactions and add new blocks to the chain. This decentralized approach eliminates the need for a central authority, offering users increased autonomy and security in their transactions. Cryptocurrencies also employ various consensus mechanisms, such as Proof of Work and Proof of Stake, to maintain network integrity.