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Author Topic: Blockchain and cryptocurrencies relation  (Read 78 times)
CryptoStats
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April 02, 2018, 11:09:16 PM
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Hello,

In the last weeks, I'm watching a lot of news about blockchain use, actually or in the future. For example: https://cointelegraph.com/news/first-all-blockchain-commodity-trade-completed-between-china-and-singapore

Each time I see this kind of news I think "ohh, that's cool, it's good for cryptocurrencies".

But, exists direct relation between big companies using blockchain and cryptocurrencies? What's the relation between them if exists?

Thanks!

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April 02, 2018, 11:14:15 PM
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Block chain is a distributed database technology, which has the characteristics of open, decentralized and irreversible modification.
Bitcoin is a digital cryptocurrency, an application case based on blockchain technology.

Yes, I know, but why cryptocurrency news websites are posting news about blockchain? Seems with this kind of news the cryptocurrencies are better but I think they don't have direct relation.

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April 02, 2018, 11:16:23 PM
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In simple terms, blockchain is a technology that encrypts digital currency is the application of this technology!

Because a technology is the development and maintenance cost, digital encryption need to issue currency for maintenance and improvement, only in this way can make the application block linked to constantly improve, and then create a practical application value.
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April 02, 2018, 11:38:59 PM
 #4

blockchain its the technology....

things like commodities, assets, financial tokens or anything that has a financial value is a currency thus if that is 'traded'/transacted using blockchain then it would be classified as cryptocurrency


cryptocurrency is the type of 'data' (of financial value) that is put on the blockchain

however if there was a blockchain that just stored chapters of a book, or patient hospital notes that had no financial value.. then although its data is distributed on a blockchain. that data is not cryptocurrency. its just data

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April 02, 2018, 11:47:11 PM
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Most definitely have something to do with the big companies in it, because we understand that big companies are as big investors as they are, and that's the hope of their progress.

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April 03, 2018, 05:15:10 AM
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Hello,

In the last weeks, I'm watching a lot of news about blockchain use, actually or in the future. For example: https://cointelegraph.com/news/first-all-blockchain-commodity-trade-completed-between-china-and-singapore

Each time I see this kind of news I think "ohh, that's cool, it's good for cryptocurrencies".

But, exists direct relation between big companies using blockchain and cryptocurrencies? What's the relation between them if exists?

Thanks!

In this particular example, blockchain based ledger were used to record the logistics information related to an oil trade. These big companies implementing blockchain technology for their uses is little more than buzzwords used by them.

They haven't mentioned what exactly was used but i assume it was one of the "private" blockchains running on company-rented servers. In such cases, you are basically creating trusted parties. This is as good as using any other classic method to create a trusted party and record transactions.
A private blockchain isn't of much interest to me as a bitcoin enthusiast. The permissionless, decentralized nature of bitcoin is what differentiates it from big companies running their own blockchain.

I like to think of it like the difference between the Worldwide Open Internet and the corporate intranets. The intranet is useful for the company and uses the same technologies but the real innovations and value for technology comes from the open internet that we all use. Imagine if you had to pay for free internet services all the time, would internet ever be the transformative technology it was??



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April 03, 2018, 05:37:04 AM
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Any Blockchain based technology that does not use the Bitcoin token, is competition for Bitcoin. When a company announce that they are going to use "Blockchain" technology, we should not celebrate before we know what token they are going to use. The last couple of years, companies did not want to be left out in the cold and they all announced that they were going to use some "Blockchain" based technology in their company. <but it is never, Bitcoin>

I feel a shiver going down my spine, when they make these announcements, because I know it is new competition for Bitcoin. The reason why they are not using Bitcoin is simple : They want full control over every aspect of the technology. 

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April 28, 2018, 10:20:15 AM
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Blockchain a technology in which transactions made in digital currencies are recorded chronologically and publicly.
Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of fundws. Instead, think of cryptocurrencies as digital assets tied to the value of a particular blockchain protocol.
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April 28, 2018, 11:04:04 AM
 #9

Undoubtedly, there is a connection.
Such support from powerful companies, provides greater confidence among investors, in the future this will be a good help.
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April 28, 2018, 12:51:17 PM
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Blockchain is a ledger that holds different types of coins,i mean cryptocurrency,the relationship is mutual and needed by both parties to show their efficiency.they simply can't do without each other..
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April 28, 2018, 01:02:58 PM
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many analysts who, without understanding the essence of the matter, glue on bitcoin and other crypto-currencies labels like "bubble" or "tulipomania."

According to him, the "tulip bubble" is a popular cliche for lazy critics who try to insult an asset whose price is growing, but which they absolutely do not understand.

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August 03, 2018, 01:05:15 PM
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Blockchain is the platform which brings cryptocurrencies into play. The blockchain is the technology that is serves as the distributed ledger that forms the network. This network creates the means for transacting, and enables transferring of value and information.

Cryptocurrencies are the tokens used within these networks to send value and pay for these transactions. Furthermore, you can see them as tool on blockchain, in some cases serving as a resource or utility function. Other times they are used to digitize value of an asset.

Blockchains serve as the basis technology, in which cryptocurrencies are a part of the ecosystem. They go hand in hand, and crypto is often necessary to transact on a blockchain. But without the blockchain, we would not have a means for these transactions to be recorded and transferred.

You might take note undoubtedly there is a connection in supporting powerful companies which come to provide greater opportunity for investors.
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August 03, 2018, 01:27:53 PM
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all i know that blockchain cant run by itself without cryptocurrency. Blockchain technology is a source of product/good that allowing the cryptocurrency work as a transaction using DIGITAL CURRENCY.
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August 03, 2018, 04:55:59 PM
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Cryptocurrency is a blockchain technology that is used. The security of cryptocurrency is guaranteed by blockchain technology, so cryptocurrency is very safe.

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