Cryptocurrency and Blockchain – The Duo Transforming Finance

Cryptocurrency and Blockchain – The Duo Transforming Finance

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For the last few years, terms such as ‘cryptocurrency’ and ‘blockchain’ have become popular in the sphere of finance and IT (information technology).

But what are these two, and how are they connected? Here we will explain these ideas further and establish how they are connected.

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Understanding cryptocurrency

Cryptocurrency can be defined as a digital or virtual currency that has attributes of money and makes use of cryptography to secure the transactions.

Cryptocurrencies are different from the government-backed currencies – known as fiat currencies – as they are based on the technology known as blockchain.

This means they cannot be regulated by any central power such as a bank or a government.

Bitcoin is the first and the most

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