What is the difference between cryptography and blockchain technology?
What Is Cryptography?
Cryptography is a type of web security. It is the method involved with transforming data into code – encryption – so just the expected beneficiary can get to the data. Scrambling information safeguards data from would-be programmers, referred to in the cryptography world as “foes.”
What is Blockchain?
In the easiest terms, a blockchain is a bunch of recorded information connected together. In additional specialized terms, a blockchain is a computerized record. It records exchanges on an organization that is shared across an immense snare of PC frameworks, likewise called hubs.
A “block” is a bunch of recorded exchanges. The “chain” is the blend of exchanges as they are added to the record. All exchanges are consistently noticeable to each hub on the organization.
The world of cryptocurrencies is full of specific jargon. Let’s see if we can untangle a couple of related topics that are usually not clearly stated: the difference between cryptocurrency and blockchain.
A cryptocurrency is a form of digital money. Examples of this are Bitcoin, Ether, Litecoin and Tether. The units of cryptocurrency are called coins or tokens.
A Blockchainx is a distributed peer-to-peer database that has strict rules for aggregating data. Each cryptocurrency is associated with a blockchain that serves as a ledger.
Behind the Bitcoin cryptocurrency is the blockchain known as the Bitcoin blockchain. Ether works on top of a blockchain database called Ethereum.
Tether does not have its own blockchain. The Tether token exists on the Ethereum blockchain and that is where Tether transactions are recorded. Ethereum was designed for maximum flexibility and many tokens are hosted on it.
Ethereum is so flexible that in addition to cryptocurrencies the Ethereum blockchain also hosts most of the popular market for non-fungible tokens or NFTs . Those tokens are like coins and cryptocurrency tokens with the difference that each NFT has a unique identity, like a serial number, so different tokens can have different values.
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