Questions tagged

CryptoMystic Sun Oct 06 2024 | 5 answers 995

Is blockchain the same as bitcoin?

Excuse me, could you please clarify something for me? I've been hearing a lot about blockchain and Bitcoin lately, and I'm wondering if they're actually the same thing. I understand that bitcoin is a type of cryptocurrency, but I'm not sure how blockchain fits into the picture. Is blockchain just a technology that bitcoin uses, or is it something more fundamental and widely applicable? I'd really appreciate it if you could help me understand the relationship between these two concepts.

Elena Sun Oct 06 2024 | 5 answers 967

Is Skyway and SLEX the same?

I don't understand this question. Could you please assist me in answering it?

Riccardo Sun Oct 06 2024 | 5 answers 1312

Is DeFi the same as crypto?

Are DeFi and cryptocurrency one and the same, or are they distinct concepts within the world of digital finance? It's a question that often arises among those new to the space, as the terms are often used interchangeably. To clarify, DeFi, or decentralized finance, refers to financial applications and services that run on blockchain technology and operate without intermediaries, such as banks or financial institutions. It encompasses a wide range of decentralized products and services, including lending, trading, and borrowing platforms. In contrast, cryptocurrency is a digital or virtual currency that uses cryptography for security and is decentralized, meaning it's not issued or controlled by a central authority. While DeFi often utilizes cryptocurrencies as a means of exchange, the two are not synonymous. So, in answer to the question, DeFi and cryptocurrency are not the same, but they are closely related and often work together within the decentralized finance ecosystem.