Blockchains vs Cryptocurrencies - Blockchain 101
Channel: Blockchain WTF
Date: 2020-10-05

The blockchain is the technology that serves as the distributed ledger that forms the network. This network creates a means for transacting and enables the transfer of value and information. A blockchain is a platform that allows cryptocurrencies to exist. Cryptocurrencies are coins or tokens used within these networks to send value and pay for these transactions. Furthermore, you can see them as a tool on the blockchain, in some cases serving as a resource or utility function. Other times they are used to digitize the value of an asset.

In other words, blockchains serve as the base technology, in which cryptocurrencies are a part of the ecosystem. They go hand in hand, and a cryptocurrency is often necessary to transact on a blockchain. Without the blockchain, we would not have a way for these transactions to be recorded and transferred in a transparent way. A blockchain is a technical design pattern that allows networks to exist without relying on a central authority for network management and maintenance. A cryptocurrency is usually (but not always) a required part of a blockchain ecosystem, and is used to incentivize users to secure the network.

Blockchain 101
Lesson 11/18

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