Question

Distinguish the difference between the blockchain and cryptocurrencies. Is it possible to have one without the other? Explain.

Here is what I think: Cryptocurrencies are an algorithmically limited "currency", so they are inherently deflationary. Cryptocurrencies are encrypted investments, because they are not widely accepted and they are subject to large fluctuations in value. Bit-coin is an example of a cryptocurrency.

Blockchain allows cryptocurrencies to trade securely. Blockchain maintains a ledger for cryptocurrency transactions on multiple servers, thus it is close to impossible to cheat the ledger. However, if more than 50% of blockchain ledgers report the same incorrect change, then the incorrect change goes onto the ledger.

Cryptocurrencies would be worthless without blockchain. This is because, people without strong central banks are the largest owners of cryptocurrencies. The cryptocurrency is a safer investment than many national currencies. Blockchain protects the investments of people who live in financially insecure countries. Without blockchain, cryptocurrencies wouldn't be encrypted and they'd be worthless.

Answer 1

Answer: A blockchain is nothing but an online tool which records all the transactions. Those transactions can be money , buy and sell of goods and services or it can be any type of information. Block chain Is the ledger or books that holds all the transactions from generations of crypto currencies and crypto currency is a form of peer to peer online based currency which uses block chain to record the transactions in public ledger. Those transactions are recorded successfully and secured using crypto currency. Crypto currency is also known as tokens.

cryptocurrency has no meaning without block chain, Block chains and crypto currency go hand in hand as without block chain we would not have means for these transactions to be recorded or transferred.