Blockchain as a whole


#1

Hello Everyone,

So I am new to blockchain and crytocurrency but am quickly becoming fascinated.

But I wanted to ask a pretty conceptual question on blockchain information as a whole.

I know this is a super beginner question, so go ahead and mock me - it is worth it to get an answer :stuck_out_tongue:

So with blockchain involving cryptocurrency - is there one overall blockchain? OR is there a blockchain for each cryptocurrency?

And what about blockchain for other purposes outside of cryptocurrency (like money transfers that don’t involve crypto) - is there an overall blockchain? OR is there a separate blockchain that is created by a company and then any transactions that occur for transactions that are managed by that blockchain are recorded in that specific blockchain. so there would be separate, unique blockchains that only cited the transactions of items that that specific blockchain managed…did i ask that clearly?

So say that company A has blockchain software and is a car manufacturer. while Company B is involved with creating and shipping medicine. assuming that these two companies are independent with completely 0 crossover, would they be utilizing separate blockchain accounts from separate blockchain providers? so there would be two block chains between these two companies?

Thanks Guys


#2

Hi Douglas

I dont know much either but i do know that each currency has their own blockchain
and each of them can have utilities that others don’t like bitcoin and etherium. Currently etherium has smart contracts and bitcoin not. It came to me that there is some company trying to figure out how to connect each blockchain
https://dogechain.info/ - dogecoin blockchain
https://etherchain.org/ - Ether blockchain
https://blockchain.info - btc blockchain
And which is also cool is that nowadays we have blockchains that don’t work on POW (proof of work) to create more supplies like those above instead they use POS (proof of stake) making its coins are limited like peercoin because there is no block reward just the fees it self

If you wanna know more about PoW & PoS


Hope i answer your question

Brgds,
Lefyt