What is the relation between cryptocurrency and Blockchain technology?

Since 2009 the world has been talking about Blockchain and Bitcoin. While many thought them the same, there is a stark line of difference between these two concepts. Well, first, we are going to focus on Bitcoin. It is a digital currency that Satoshi Nakamoto introduced. Bitcoin aided peer-to-peer transactions without any third-party intervention. Despite facing initial hurdles, Bitcoin continued to grow. It became a popular cryptocurrency; in fact, it also led to the rise of many other cryptocurrencies like Litecoin, Ethereum, Ripple and others. But what garnered the attention of many was the underlying technology that aided the swift Bitcoin transaction, and the world got new technology, Blockchain.

What is Blockchain?

This is a distributed ledger technology that works on peer-to-peer networking nullifying the need to have a third party involvement in governing the transaction. In simple words, this is a decentralized platform where every information is encrypted cryptographically. Some of the key features of Blockchain technology :

1. Decentralization

2. Peer-to-peer interaction

3. No third-party intervention

4. Data security

5. Traceability

All these features are making Blockchain an inevitable technology of the future. But we are talking about Blockchain, then the discussion is incomplete without mentioning Bitcoin.

Bitcoin, as a digital currency has created quite a fervour in the market. The digital currency that was once surrounded by all kinds of dilemma and apprehension has emerged as the most sought-after currency globally. Almost every investor who has embraced this digital financial revolution is ready to invest in this technology.

However, some people use Bitcoin and Blockchain interchangeably. But the fact of the matter is that both these aspects are very different, while Blockchain is the underlying framework guiding the functioning of Bitcoin, the latter is what people use in the forefront.

In simple words, Blockchain is the platform on which Bitcoin operates, and you cannot imagine Bitcoin functioning on its own. We can also say that Blockchain is like the internet, which aids online transaction or exchange of Bitcoin or other digital currencies.

What’s next?

Despite initial resilience from the developers and other industries, both Bitcoin and Blockchain managed to grow and create their impact. Blockchain has emerged as a mainstream technology that is aiding many other technologies like AI, Big Data and IoT. With this growing change and development, we can say that Blockchain is the future, and one should be ready to invest in it if they want to create strong career growth.

One way to start a good career is to choose the right learning platform, and the Blockchain Council provides you with the same. You can pursue a specialized certification program in niche Blockchain platforms like Corda and Hyperledger; one can also opt for Blockchain certification and Bitcoin certification. So, based on your preference, you can choose the right learning course.

Blockchain is the future, and if you also wish to be a part of this futuristic growth, connect with the Blockchain Council today.

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What is the relation between cryptocurrency and Blockchain technology? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

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