Blockchain VS Cryptocurrency

Blockchain and cryptocurrency are often mentioned in the same breath but are two distinct concepts.

Blockchain is a decentralized digital ledger that records transactions across a computer network. It is a distributed database maintained by a network of users rather than a central authority.

Each block in the chain contains a record of multiple transactions, and once a block is added to the chain, the information it has cannot be altered. This creates a secure and transparent record of all transactions on the network.

On the other hand, cryptocurrency is a digital or virtual currency that uses cryptography for security.

It is built on top of blockchain technology and is decentralized, meaning that any government or financial institution does not control it.

Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, thousands of other cryptocurrencies have been made, each with unique features and use cases.

In summary, Blockchain is the technology that enables the creation of a decentralized digital ledger, while cryptocurrency is a digital or virtual currency that uses blockchain technology.

While Blockchain and cryptocurrency are closely related, they are not similar.

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All the best,

Luis Soares

Head of Engineering | Solutions Architect | Blockchain & Fintech SME | Data & Artificial Intelligence Researcher. 20+ years of experience in technology.

#blockchain #defi #decentralization #technology #web3

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