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What is the Difference between Cryptocurrency, Bitcoin, and Blockchain?

We hear so much about blockchain, bitcoin, and cryptocurrency. Everyone’s talking about them in an almost synonymous sense of way and it’s really difficult to differentiate the three terms.

Here is a simple logic: cryptocurrency is an online currency; a digital one, just like dollar or euro is an offline and physical currencies. Bitcoin is one kind of cryptocurrency. As there are different currencies in different regions like the dollar, euro, pound, rupees, yen- in the online world, we have bitcoins and others like Dash, Ripple, and some more about which we will learn here. The blockchain is a distributed ledger which records every transaction in the online world. Like we have banking system recording everything we do with our money. Here, this made it simpler for you? Yes? We hope it did.

What about careers in such technology that is taking over the world? Where does that fit blockchain certifications or for that matter any cryptocurrency specialist certification? Now, suppose somebody with cash wants to invest in cryptocurrency but hasn’t got a clue as to how to invest. What would he is likely to do? Where would s/he approach?

That’s where cryptocurrency specialists and blockchain engineers come into the picture. How do they know better than an individual? Because of the various educational courses like cryptocurrency certification and blockchain certifications out there in the market that they complete.

Okay, now taking these topics one on one for a better grasp:

Cryptocurrency: A digital asset acting as an exchange system is called cryptocurrency. There are credit, cash, and electronic wire systems that we know as assets today. But unlike credit and cash, cryptocurrency doesn’t require a bank or third party acting as a mediator between the payer and the payee. Banks charge extra money for such transactional activities. But with cryptocurrency, this hassle has been removed owing to an ultra-safe method that it has become.

Bitcoin: Bitcoin is one of the many cryptocurrencies available in the market. Other examples of cryptocurrencies are Litecoin (LTC), Dash, Zcash, Ethereum (ETH), Monero (XMR), and Ripple (XRP). These are the famous ones out of 3000 cryptocurrencies which have started to be accepted by the world gradually. The sound and safe technology required in maintaining bitcoins in blockchain has been given an alternative name called the bitcoin technology. Some of the famous retailers accepting cryptocurrencies are Newegg, Overstock, Expedia, and Dish network.

Blockchain: The validation of cryptocurrencies is done by a system called blockchain which is a form of distributed ledger recording every transaction that ever took place. It is foolproof as it requires authentication form various channels. Even if you want to dupe the system of a single bitcoin or other cryptocurrencies, you require authentication from many users and need to alter the data retroactively, all of which is almost impossible and makes the system quite safe.

If you are someone reading this, you certainly aren’t a bitcoin technology expert. You are somebody confused with all the hoopla surrounding this new technology or else someone opting for a career in it. It’s alright to be not sure of the terms and now after you know it, the rest could easily be made clear with a right cryptocurrency specialist certification and blockchain certifications, based on whichever you like and whoever you want to be. All the best!

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