What is the difference between bitcoin and “cryptocurrency”?
Question: What is the difference between bitcoin and “cryptocurrency”?
Bitcoin is a specific type of cryptocurrency, which is a digital or virtual currency that uses cryptography for security and operates independently of centralized institutions. While Bitcoin was the first and most well-known cryptocurrency, there are now thousands of different cryptocurrencies that operate on blockchain technology. Each cryptocurrency has its own unique features and use cases, but they all share the common characteristic of being decentralized, secure, and trustless payment systems that enable peer-to-peer transactions without intermediaries. Overall, while Bitcoin is a specific type of cryptocurrency, the term "cryptocurrency" refers to a broader category of digital currencies that share similar characteristics.
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