What is Blockchain and Cryptocurrency

Blockchain, it is a distributed database means there are lots of systems are connected to each other, all system are connect in form of distributed batabase. And every system has the record of each system and whole data is in encrypted form no one can hack this data, this is highly secured. The blockchain is fault tolerance also means if one system is not working then working is not stop,other system are doing there work normally and transaction or there other work in going normally. It's first use in 2008 for Bitcoin Cryptocurrency. It can use in any field where 3rd party is required such as in financial coition or can use by goverment also.

Cryptocurrency is a currency whom we can't see and can't feel, it's a virtual currency. The main motive behind this currency is not to centralized this currency like our Indian currency is centralized, it is operated by the government or some groups of people. But Cryptocurrency is not operated by any government or any group. Currently, in the market, there are lots of Cryptocurrency like Bitcoin, Litecoin, Ripple, Ethereum etc. Every cryptocurrency is work on an algorithm  like  Bitcoin works on SHA-256d and Litecoin works on Scrypt. So a payment system is built on this algorithm for the particular Cryptocurrency. Now one person transfers some Cryptocurrency to other people on this payment system. Then there is a transaction of this payment and this transaction is stored in the block and this block goes for verification and verification process is known as miners some server is there some people are there who done verification and they get some Cryptocurrency in reward of this verification. So the whole process of 2 people done their transaction and this transaction store on the block then go to miners this whole process is also known as blockchain.