An Overview of Crptocurrency

There has been a lot of noise lately about bitcoin, blockchain and the cryptocurrency world as a whole. While some part of it is hype, some points to important forces in the financial services industry. So what does it mean?

Below is an overview of the whole cryptocurrency shout.

Let's start with some quick definitions. Blockchain is the technology that makes the existence of cryptocurrency (among other things) possible. Bitcoin is the name of the best known cryptocurrency, for which the blockchain technology was invented. A cryptocurrency is a medium of exchange, just like the American dollar, but is digital and uses coding techniques to check the creation of monetary units and to verify the transfer of money.