Blockchain and Cryptocurrency – What is the difference????
Many people get confused when trying to understand and define the two main featured words of DLT (Decentralized Ledger Technology). Below are a few key features to help you better understand, define and apply the concepts behind the terms.
- Controlled by nobody and everyone all at once.
- A technology built on a series of rules and protocols agreed upon by the majority and decentralized from any single governing body.
- The blockchain can only be added or changed by anonymous and unanimous consensus based on verification of truth.
- There are no whimsical changes made by human board members, and no fees charged to cover the fancy buildings or lobby associations or executive bonuses.
- Blockchain technology (all of the above applies).
- Decentralized digital money.
- May valued by a represented technology .
- May exist only as a traded currency.
- Not always exchangeable for goods or services.
- Absent of governed control (Government or Corporation).
- Equal in value regardless of where you live or pledge allegiance.
- Taxable (in most countries as an asset, not a currency).