What technology provides a decentralized method for transaction verification in cryptocurrencies?

The technology that provides a decentralized method for transaction verification in cryptocurrencies is blockchain. Blockchain is a distributed ledger technology that records transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. This decentralization enhances security and trustworthiness, as each participant in the network can verify the transactions without needing to rely on a central authority.

In the context of cryptocurrencies, blockchain ensures that each transaction is validated by multiple nodes within the network, making it highly resistant to fraud and tampering. This decentralized approach contrasts with traditional databases, which rely on a central authority to manage and verify transactions.

While cloud computing and networking are crucial components of technology infrastructure, they do not inherently provide the decentralized mechanism required for transaction verification that blockchain offers specifically within the realm of cryptocurrencies.