How is a cryptocurrency based on a blockchain?

The validity of each cryptocurrency's coins is provided by a blockchain. A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp, and transaction data.

Who can use blockchain & cryptocurrency?

Perhaps the most profound facet of blockchain and cryptocurrency is the ability for anyone, regardless of ethnicity, gender, location, or cultural background, to use it. According to The World Bank, an estimated 1.4 billion adults do not have bank accounts or any means of storing their money or wealth.

How do miners make a cryptocurrency a 'cryptocurrency'?

Miners try to solve mathematical puzzles first to place the next block on the blockchain and claim a reward. Below is a list of seven things that every cryptocurrency must be in order for it to be called a "cryptocurrency": Digital: Cryptocurrency only exists on computers. There are no physical coins and no notes.