All about Blockchain and CryptoCurrency

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What is Blockchain?

Hey Folks,

As you know nowadays CryptoCurrency is trading in the market and the future is moving towards digitalization. Where your physical money will also be converted to your digital wallet.

Now, the very first question which comes to everyone's mind, Hey..! this blog is on Blockchain why are we discussing Currency?

Well, in today's blog we would discuss many things like Blockchain, cryptocurrency, the relation between cryptocurrency and blockchain and many more.

CryptoCurrency Blockchain
Cryptocurrency Blockchain

So what is Blockchain?

Blockchain is a spread database present on multiple systems at the same time.
It keeps on constantly expanding as new sets of blocks, or records, are added to it.
Each record/block includes a timestamp and a link to the previous block, so they, in fact, form a chain with unique hash code each time.

What is CryptoCurrency?

In straightforward terms, cryptocurrency is nothing but form of virtual or digital money. It serves as ordinary money, such as rupees, dollars, euros, etc. But it has no physical peers like coinsor banknotes that can be carried around. So that cryptocurrency exists only in electronic form and not physical into your digital wallets.
I hope till now you have understood what is Blockchain and why this technology is used for CryptoCurrency.

If not no worries let's see with the live example to understand it more deeply.

How CryptoCurrency used with Blockchain?

Blockchain is the stage that elevates Crypto-Currencies into play. As mentioned above blockchain is the technology that serves as the distributed record that is formed using different networks and devices. This network generates the means for transacting and makes it possible transferring of value and report.

As explained above cryptocurrencies are the tokens used inside these networks to form a chain and sent value and pay for different transactions. In some cases, cryptocurrency serves as a resource or benefit function. Other than they are used to digitize the value of an individual's wallet.

Blockchains provide as the basis asset, in which cryptocurrencies are a part of its ecosystem. They go side by side, and cryptocurrency is frequently essential to make transact enable on a blockchain. But without the blockchain, we would not have any means for these transactions to be transferred and recorded.

Top 5 Trending CryptoCurrency!

  1. Bitcoin
  2. XRP
  3. Ethereum
  4. Bitcoin Cash
  5. Bitcoin SV

Thanks & Regards,
Tapan Patni
Blogger: https://tapanpatni58.blogspot.com
Skype: tapan.patni

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