What is blockchain vs cryptocurrency?

03 Oct 2022 By PAYCEC

There are several reasons why newcomers confuse blockchain with cryptocurrency.

First of all, both are intangible - Cryptocurrencies are digital tokens you cannot physically touch as a $20. Blockchain is a decentralized network that stores cryptocurrencies and does not exist in a physical data center.

Blockchain is the underlying technology behind cryptocurrency, which is allegedly more advanced and secure than traditional databases. Similarly, folks believe cryptocurrencies rival, even surpass fiat money.

Now you might realize the difference between these two: One is the root, and the other emerges from it. Let's break down five main differences between blockchain and cryptocurrency so you can’t mess up:

Blockchain Cryptocurrency
A digitally decentralized public ledger A virtual currency powered by blockchain
Has no monetary value Has a monetary value
Prioritizes transparency Promote transparency
Besides using cryptocurrency, blockchain is also used to record transactions in banking, healthcare, supply chain, and retail Used to buy goods, services, or invest
Can not be stored in a single location Can be used to transaction anywhere as long as it is acceptable

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