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NotFound404
NotFound404

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Differences between Blockchain and Cryptocurrency

People aways misunderstand blockchain with cryptocurrency.
It is because the first cryptocurrcency Bitcoin uses the blockchain technology.
But the blockchain technology is one of the technologies used in the first cryptocurrency - bitcoin, it is only a storage technology that keeps data checked. With the bitcoin p2p network and the hashrate contest which can almost keep it unable to be changed by any attack.
So the blockchain technology itself is a very simple technology.
The unchangablity of the cryptocurrency data is assured by the consensus algorithm not blockchain.
With consensus, we can hold data from being changed without blockchain technology.
I don't think we should misconcept everything into blockchain, such as consensus, p2p network, persistent data, wallet.
These concepts should be part of the cryptocurrency technology.

As far as we can see, these technologies are currently included in the crytpocurrency technology:

  1. Persistence: Blockchain / dag
  2. P2P networking
  3. Consensus
  4. Money System: Mining/Wallet/Transaction
  5. Extension: Contracts

As cryptocurrency technology still on its early stage, we should be clear that the cryptocurrey technology can be very importance to the future of the world.
The new decentralized world may be build upon it.

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