3/20/2023 - Technology and Innovation

Decipher the chain: comprising the differences between Blockchain and Criptomonedas

By Ramiro Guerrero

Decipher the chain: comprising the differences between Blockchain and Criptomonedas

Just over a year ago I was conducting a study that aimed to know how many non-specialized people knew about Blockchain. Upon surveying the data, it showed that 74% of respondents could not differentiate between blockchain and cryptocurrency. In addition, 82% of the non-specialized public associated cryptocurrency as the main actor in the ecosystem and knew the existence of blockchain as such. That is why, in this article, the main differences between Blockchain and Cryptotones are sought. The goal is to give readers the necessary concepts to publicly disseminate non-specialized in a succinct manner the differences between both.

  • We will define both terms in a friendly manner for all audiences: Blockchain is a distributed registry technology that allows you to store and share information securely and decentralizedly. While cryptocurrencies are digital assets that are used as means of exchange and that use blockchain technology to work.
  • The profits that each has more than one believes. On the one hand Blockchain is used in a wide variety of applications, ranging from financial transaction registration to supply chain management. On the other hand, cryptocurrencies are specific for their use as a means of exchange.
  • The purpose of Blockchain is to provide an unchanging and secure record of transactions. In return, cryptocurrencies are used to allow transactions

    between parties without the need for intermediaries.

  • What is the value of blockchain? has an incalculable intrinsic value. So when you tell me about some cryptocurrency, what price are you giving me? Cryptocurrencies are directly linked to market supply and demand. Something that is important to know is that not all cryptocurrencies are coins. Some are utility tokens, which are used to access services or functions on a specific platform.
  • But how do blockchains and cryptocurrencies work? On the one hand, Blockchain works by creating information blocks that connect with each other to form a chain and uses a variety of consensus algorithms to ensure the integrity of the block chain. Cryptocurrencies work by creating digital assets that are transferred from one part to another and use cryptographic algorithms to ensure transactions.
  • Are they regulated? Blockchain itself is not regulated, but applications that use blockchain technology may be subject to regulations. Cryptocurrencies, on the other hand, are subject to government regulations in many countries.
  • How was each with the adoption of the general public? Blockchain is being adopted steps in a wide variety of industries, from banking and finance to medical attention and supply chain. While cryptocurrencies are mainly used in the financial field and are less common in other industries.
In conclusion, it is important to differentiate between blockchain and cryptocurrencies because they are distinct concepts with different applications, purposes and regulations. blockchain has a transformative potential in many industries, while cryptocurrencies are just a specific application of blockchain technology.

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ramiro guerrero d

Ramiro Guerrero

My name is Ramiro I am fond of new technologies
like IA and blockchain, my degree thesis focused on the application of
blockchain to the financing of SMEs. I have experience with
cryptocurrencies since 2017, I currently do a master's degree in
finance.

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