How are cryptos different from blockchain?

Asked 18-May-2022
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  • Blockchain is a decentralised storage technique that is used to save data. Cryptocurrency, like the US dollar, is a medium of exchange. Beyond cryptocurrency transaction records, a blockchain can be used to store a variety of data.
  • A monetary value exists for all cryptocurrencies. You've probably heard about Bitcoin reaching a high of 65,000 dollars (about 48 lac rupees) or Ether reaching a high of 4,000 dollars (about 3 lac rupees). There is no monetary value to a blockchain.
  • Beyond cryptocurrencies, blockchain technology has many applications. Blockchain can be used in banking, healthcare, supply chain, and retail to record transactions. Cryptocurrency is a type of digital money that may be used to buy goods and services as well as to invest.
  • Blockchain technology is decentralised and globally dispersed. There is no single location where all of a blockchain's records are kept. Although cryptocurrency is stored in blockchains, it can be accessed through mobile wallets. If you have a bitcoin wallet, you can use it to conduct business with anyone who accepts bitcoins.


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