The Earth's magnetic field is powered from energy supplied by slow cooling and freezing of the liquid iron core. Core thermal history calculations have been hindered in the past by poor knowledge of the properties of iron alloys at the extreme pressures and temperatures pertaining in the core. This obstacle is now being overcome by developments in high pressure experiments and computational mineral physics. Here we review the relevant properties of iron alloys at core conditions and discuss their uncertainty and geophysical implications.Powerful constraints on core evolution are now possible, due partly to recent factor 2-3 upward revisions of the all-important electrical and thermal conductivities. This has dramatic implications for the thermal history of the entire Earth, not just the core: the inner core is very young, the core is cooling quickly, and was so hot in the past that the lowermost mantle