How different is Cryptocurrency from Blockchain Technology ?

The basic difference between is, Bitcoin is a cryptocurrency that is virtual money and Blockchain is a secure ledger in the form of blocks that are linked together via cryptographic hashes. This also puts out different uses or applications of them as well.

• Purpose: Bitcoin was introduced to simplify the transactional process and unify payment services using only a single type currency or a form of digital currency. Whereas blockchain was introduced with the purpose of providing a secure and decentralized system to store data.
• Application: Bitcoin is limited to crypto exchanges and payments or crypto trading. Blockchain has varied applications, it can be applicable to any industry and can be molded accordingly.
• Identity: Blockchain focuses on having a making process more transparent and with Bitcoin you can maintain anonymity.

In layman terms …

Bitcoin = Currency of any form ($$).

Blockchain = Bank Account.

So to say bitcoin is a part or subset of blockchain. How?

Blockchain deals with keeping or transferring records or assets or anything of value and provides the necessary structure for storing them. These assets or records when transferred from one owner to another are in the form of tokens. This token is now formerly known as cryptocurrency which initially was “Bitcoin”. How is cryptocurrency development services different from custom blockchain application development services?

Cryptocurrency development services include

• ·Crypto-wallet development services.     
•  Crypto-exchange development services.
•  Cryptocurrency development services.
•  ICO services.

To support these you need decentralized ledger, which blockchain provides you with and becomes the backbone of these services.

Alternatively, you can use existing applications for personal use. ICO under cryptocurrency development can be used to raise funding for startups. The cost-effective way to raise funding without worrying about government regulations.

W3villa Technologies is one of the priemere custom Blockchain Software Development Company, that offers Cryptocurrency Development Services and others under one roof. We have worked on and delivered a number of blockchain projects in time and also provide support after the project delivery. We have a team of dedicated blockchain application development developers and also offer different hiring models for the same to fit your requirements and budget.

OriginalSource:https://medium.com/@w3villa/how-different-is-cryptocurrency-from-blockchain-technology-8213fbfc2d7e