Cryptocurrency Basics: The Many Blockchains

What is a Blockchain

There are now many different Blockchains in the cryptocurrency space. Picture are the websites of companies building the Harmony One, Solana, and Binance Smart Chain blockchains.

The Bitcoin Blockchain

An even more old school version of continuous paper, from a line printer. Via ArnoldReinhold

The Ethereum Blockchain

via The Block Crypto
Etherescan.com, accessed June 30, 2021
via gasnow.org, accessed June 29, 2021.

Paying Ether Gas Fees to run transactions on the Ethereum blockchain

The Binance Smart Chain

BscScan.com, Accessed June 30, 2021
via https://moonarch.app/, accessed May 2021

Blockchain Blockchain Blockchain

  • When you are trying to swap one cryptocurrency for another (which is rather difficult, and requires a way to “bridge” a crypto on one blockchain to another).
  • When you’re using a DeFi protocol — Uniswap runs on the Ethereum blockchain; Pancake Swap runs on the Binance Smart Chain; Mochi Swap runs on the Harmony One blockchain.
  • Which website you go to view your (or others’) transactions.

--

--

--

Alexis is a former Wall Street worker who now advocates for a safer & fairer economy.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Weentar(WNTR) Will be Available on CoinTiger. 340,000 WNTR to Give Away!

How to develop a Pancakeswap clone software instantly?

#DeleteCoinbase

homeownersguides.org

Announcing KOLnet IDO on Thorstater and Official Partnership

Today, we’re excited to reveal the next stop for the Etched 2022 roadmap.

Will Bitcoin Go Back Up?

AutoShark Tokenomics [Updated June 2021]

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Alexis Goldstein

Alexis Goldstein

Alexis is a former Wall Street worker who now advocates for a safer & fairer economy.

More from Medium

If You Only Read a Few Books in 2022, Read These

Why Coinbase Won: Marketing in an Empathetic Future

Building a Spark Plug Culture with Burning Man’s Utopian Principles

NFTs Aren’t About Clout: They’re Offering Us Greater Community