The real secret behind the success of encrypted digital currencies is simply the success of the blockchain system, and this is information that every beginner in the field of encrypted currencies must know and understand well.
The blockchain is simply the database system on which encrypted currencies are based, and any database system has the role of recording all the balances and transactions of the currency, and each currency has its own blockchain, but any token can be created on an already existing blockchain, and this is the difference between the currency and the token, by the way.
The important thing is that the real revolution behind the success of cryptocurrencies is the success, excellence, and security of the blockchain system
Let us simplify the meaning of blockchain so that I hope all people understand it, because it will translate a lot of things for you in the field.
If we say that cryptocurrencies can be likened to paper currencies as a means of payment, then the blockchain can be likened to the bank in which all transactions of this currency, its wallets, and its balances are kept. But the difference is that instead of in paper currencies, all your information is present in one place, which is your bank, the opposite is done. In encrypted currencies, they are recorded on the blockchain, which is a decentralized system. This means that there is an exact copy of the blockchain on hundreds of thousands of devices in the world, so it is difficult or even impossible for them to be counterfeited other than the high speed of transmission and reception, and of course, and finally, the complete security that exists in the blockchain.
From here came the blockchain revolution, including the revolution of cryptocurrencies, which is one of the very many applications made on the blockchain or by using the blockchain.
In the coming articles, we will talk more about blockchain and its other applications
