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The blockchain is therefore the technology that allows cryptocurrencies such as bitcoin to work. Blockchain technology is essentially a database, also called a ledger or all the transactions on a certain computer network. It is independent of the government and is digital money not controlled by one person or government. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. The main purpose of a cryptocurrency coin is to function as digital cash (also called digital currency).
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This category of coins possesses its own native blockchain.
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Cryptocurrency Blockchain Technology Concept Vector Clipart from images.vector-images.com Blockchain is becoming a legitimate disruptor in a myriad of industries. Cryptocurrencies are therefore different from blockchain, but, yet, an integral part of blockchain technology.cryptocurrencies ensure that there is an economic incentive to host the records. Dollar is controlled by the federal reserve. Originally devised for the digital currency, bitcoin blockchain, (buy bitcoin) the tech community has now found other potential uses for the technology. Examples of cryptocurrency coins include bitcoin (btc), monero (xmr), and bitcoin cash (bch). The blockchain is therefore the technology that allows cryptocurrencies such as bitcoin to work. Blockchain technology is the foundation of cryptocurrency, which can be used for secure and decentralized digital transfers of value. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.
The technology behind blockchain essentially means that blockchains power the entire cryptocurrency concept.
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Blockchain technology is at the core of crypto's success.
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