Yes. If you use higher voltages, you can transfer the same amount of power with a small current of charged particles. The energy lost in the transmission through wires increases as the square of the amount of current through those wires so reducing that current is very important.
These devices use diodes, which are one-way devices for current. They only allow the current to flow a certain direction and block its flow the other way. With the help of some charge storage devices called capacitors, these diodes can stop the reversals of AC and turn it into DC. Those little black battery eliminators that you use for household electronic devices contain a transformer, a few diodes and a capacitor or two.
A step-up transformer has a secondary coil with many, many turns. As the current in the primary circuit flows back and forth, it creates a reversing electric field around the iron core of the transformer. This electric field pushes charges through the secondary coil so that it travels around and around the core. Each charge goes around many times, picking up more energy with each passage. By the time the charge leaves the transformer, it has lots of energy so its voltage is very high.
A transformer involves two completely separate circuits: a primary circuit and a secondary circuit. Charges circulate within each circuit, but do not move from one circuit to the other. If the primary circuit of a transformer has a small current flowing through it and that current experiences a large voltage drop as it flows through the transformer’s primary coil, then the primary circuit current is transferring power to the transformer and that power is equal to the product of the primary circuit current times the voltage drop. The transformer transfers this power to the current flowing in the secondary circuit, which is an entirely separate current. That current may be quite large, in which case each charge only receives a modest amount of energy as it passes through the secondary coil. As a result, the voltage rise across the secondary coil is relatively small. The power the transformer is transferring to the secondary circuit current is equal to the product of the secondary circuit current times the voltage rise.