Although these two terms are almost often heard together, blockchain and crypto are actually two different things. As is known, the trend of digital assets is also currently increasing among the public, especially since Bitcoin reached its highest price record last year.

In general, crypto is a digital currency system that is secured by cryptography so that it cannot be counterfeited by criminals. On the other hand, blockchain is a technology used as a digital data storage system connected through cryptography. Therefore, although they are different, they complement each other because blockchain is the technology for cryptocurrencies.

Blockchain Advantages

• The transaction system is transparent because it can store transaction data safely and transparently
• Has good data protection, namely with the verification system by miners or miners before being executed on many computers
• The transaction process is more efficient and faster
• Its security is guaranteed because this technology is equipped with the advantages of encryption with cryptography
• Has a better audit system because here everyone can see directly and track transaction data which allows him to know the audit trail of an asset
• Eliminate broker fees. Through the presence of blockchain, the role of brokers is no longer relevant because the transaction fee for it will be replaced by a consensus algorithm.

Blockchain Weaknesses

• Requires a long time. This happens because the confirmation of data on this network requires agreement from the parties included in the network. Therefore, sometimes the process on the blockchain network will take longer when you want to join the network
• Difficult to regulate. Because the decentralized system has made a number of parties in this network spread from various parts of the world, which makes updates unable to occur evenly and thoroughly. The changes will occur depending on whether the parties want to make updates or not.