You're most likely hearing a lot of buzz words these days like "crypto," "bitcoin," "or "blockchain." This article will help you decipher their meanings and differences.
Cryptocurrency, also known as Virtual Currency or "Crypto," is a digital asset originally designed to function as an alternative to sovereign fiat currency (US Dollars, for example) whereby transactions between two parties are verified through a public, distributed ledger, also known as a blockchain. Most people think of Bitcoin or Ether when they hear "Crypto." While Bitcoin is the original cryptocurrency and most widely followed, many cryptocurrencies are currently available and the use cases are constantly expanding their borders.
Let's break it down to make sure you understand.
Blockchain is the technology that allows transactions to be decentralized, secure, and trustless.
A cryptocurrency is a medium of exchange that two parties agree has a particular value.
Bitcoin is a particular cryptocurrency. You can think of it as a particular "brand" of a cryptocurrency.
I hope this clears things up for you. If you have any questions about this topic, please feel free to reach out and we'd love to connect you with one of our blockchain experts or connect you with the right resources.