Page 1

Coinscapture.com https://coinscapture.com


Is Blockchain & Cryptocurrency The Same? | What is the difference between Blockchain & Cryptocurrency? | Coinscapture


https://coinscapture.com/blog/is-blockchain-andcryptocurrency-the-same

Still lost with regards to Cryptocurrency, Bitcoin, and Blockchain? Whether they are different or they are the same? To keep it short, we will say that they are different. Here's a quick clarification- What they are? Why they are different? And how they differ from each other?

A while ago, when bitcoin was just a single popular digital currency, the words blockchain and bitcoin were utilized inversely. But as different types of cryptocurrencies emerged in the global market, it became necessary to get a different meaning. Blockchain refers to distributed technology containing “chain of blocks”. Each block includes the data of the transaction made. This data is bundled together, verified and permanently recorded in the distributed ledger i.e. Blockchain. On the other hand, cryptocurrency represents the tokens that are exchanged in a blockchain network. These tokens have monetary value and can be used for sending, receiving, investing and can be used to do payments.


https://coinscapture.com/blog/is-blockchain-andcryptocurrency-the-same Let’s get in a deep differentiation:

Comparison

Blockchain

Cryptocurrency

Nature

A decentralized technology which A virtual currency used records cryptocurrency in transactions on a transactions blockchain

Use

A technology that runs cryptocurrency transactions

Value

No monetary value

They have monetary value and can be used as a measure of wealth

Mobility

They are non-transferable

They can be transferred.

the Used in blockchain to make payments, investments, and storage of wealth


https://coinscapture.com/blog/isblockchain-and-cryptocurrency-the-same 

This was the crux difference between the two. Now, let’s understand how they work?

The blockchain is a technology on which the cryptocurrencies are made to play. It serves as a distributed ledger, forming a network. This network acts as a medium for the transaction. Cryptocurrencies are the tokens used to send or pay for the transaction within the network. Cryptocurrency can be the digitized value of an asset or used as a tool on a blockchain. Thus, they go hand-in-hand because the blockchain serves as a technology in which cryptocurrencies is the part of the system and without cryptocurrencies; any transaction is not possible on the blockchain.

Hence, even if the Cryptocurrency is not the same as Blockchain, yet they work together for a Bright Future.

Profile for coinscapture com

Is Blockchain & Cryptocurrency The Same? | What is the difference between Blockchain & Cryptocurren  

Find Cryptocurrency Vs. Blockchain - What is the difference/Comparison between Blockchain & Cryptocurrency @ Coinscapture Blog.

Is Blockchain & Cryptocurrency The Same? | What is the difference between Blockchain & Cryptocurren  

Find Cryptocurrency Vs. Blockchain - What is the difference/Comparison between Blockchain & Cryptocurrency @ Coinscapture Blog.

Advertisement