Cryptocurrency is not Blockchain technology; One only supports the other.

in #cryptocurrency6 years ago

A number of people that are new to the world of crypto use the terms blockchain technology and cryptocurrency interchangeably to mean the same thing. I believe most of us have been in that state at one point in time when these terms were new to us. These two terms can be challenging at first but it takes a little digging to understand the underlying difference and how best to use each of them.

photodune-11416829-elderly-man-with-glasses-confused-with-laptop-software-s.jpg
credit

Blockchain technology is basically a public distributed database which is kept secure using mathematical functions to enable a safe way of storing and transacting data. And cryptocurrencies are tools used when storing or transacting something of value across this blockchain network. These tools are electronic, no one can see them physically except on a computer.
So we can conclude that blockchain technology supports the use of the cryptocurrencies.

Blockchain-Technology (1).jpeg
credit

Though blockchain technology had existed earlier in time, it was the geniousity in Satoshi that made it sounding when he used the concept to introduce bitocin to the world. It was here that there was very little distiction between the two; blockchain was basically bitcoin. But as blockchain technology grew wider and started being adopted in various fields of profession, various cryptocurrencies started getting created. And now there are more than 1000 cryptocurrencies that are used in different blockchain technologies around the world.

Sort:  

Dear friend, you do not appear to be following @wafrica. Follow @wafrica to get a valuable upvote on your quality post!

Congratulations @cryptoword! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!