I'll keep it simple and quick. I'll add one more term: cryptocurrency.
The difference is the same which is there between bank databases, money and dollar.
Bitcoin -> Dollar
Cryptocurrency -> Money
Blockchain -> Bank Database
You buy and sell using dollars. What it actually is to you is money. Each of your transaction is stored in a bank database.
Topic: difference between bitcoin and blockchain - page 3. (Read 726 times)
BItcoin nis the electronic currency that you used as a investment while the blockchain is the market wherein the exchanges and tradings are happen, it is a place wherein you can exchange your investments.
The difference between bitcoin over blockchain is that bitcoin is the first digital currency and it is also known as the new electronic digital paymet system and money. This system works independently. While blockchain is made for bitcoin to record all the transactions inside the bitcoin or between two parties. It is digital ledger and it is recorded publicly.
it seems almost all the same with answers that make no difference between blockchain and bitcoin is not the same between digital money and big books...
Bitcoin is a crypto currency which is used as a means of exchange and also a store of value, it is called crypto because it was built in a way that it cannot be copied this was done one the blockchain, without the blockchain there can be no decentralization of bitcoin. Blockchain is an open ledger where transactions are being stored, all transaction stored are distributed and decentralized. Meaning that everyone has access to be information but no one owns the information. Bitcoin is a coin built on the blockchain, while the blockchain is like a decentralized database with no owner.
Blockchain is the technology behind the ability to have secure, transactional power that is distributed globally, as opposed to having monetary transactions controlled by centralized financial institutions.While Bitcoin is the first cryptocurrency that emerged into the crypto world, the most known nowadays and with the highest value. Bitcoin is a crypto currency which is used as a means of exchange and also a store of value, it is called crypto because it was built in a way that it cannot be copied this was done one the blockchain, without the blockchain there can be no decentralization of bitcoin. Blockchain is an open ledger where transactions are being stored, all transaction stored are distributed and decentralized. Meaning that everyone has access to be information but no one owns the information. Bitcoin is a coin built on the blockchain, while the blockchain is like a decentralized database with no owner.
Blockchain is a type of technology and architecture for data storage while Bitcoin is digital payment system running on Blockchain technology the system was designed to work without any central authority. Bitcoin is a crypto currency which is used as a means of exchange and also a store of value, it is called crypto because it was built in a way that it cannot be copied this was done one the blockchain, without the blockchain there can be no decentralization of bitcoin. Blockchain is an open ledger where transactions are being stored, all transaction stored are distributed and decentralized. Meaning that everyone has access to be information but no one owns the information. Bitcoin is a coin built on the blockchain, while the blockchain is like a decentralized database with no owner.
this is very important and useful information if the bitcoin is without ownership and only the person who knows it is very safe like in the bank.
Bitcoin is a cryptocurrency, created and held electronically on your PC or in a virtual wallet. No one controls it or sees it – it is decentralized so no person, institution or bank controls the currency.While bitcoin had the power to make transactions untraceable, it was another innovation that promised to make every transaction transparent and permanent. Underlying the use of bitcoin is blockchain, which is almost entirely opposite its more famous alter-ego. possesses the ability of having permanent records of the transactions the blocks are used for, and at any time people can see those online in real time
In simple explanation Bitcoin is the currency while the technology being used is the blockchain. Bitcoins is build with blockchain as its foundation, without the blockchain bitcoin could not be called a crypto currency. Somehow the essence of bitcoin as a currency is the blockchain technology. But it is also important to understand what is this blockchain, blockchain is a record of transaction, a public ledger wherein you can monitor and trace whenever you make a transaction using bitcoin.
[Very accessible explanation, I fully agree with you.]
[Very accessible explanation, I fully agree with you.]
Bitcoin is the first decentralized cryptocurrency it was released in the year 2009 by the mysterious name Satoshi Nakamoto. This is the online or digital banking system and it works independently without authorities and central bank while blockchhain is a digital ledger that records or manage transaction or database between two parties publicly.
Bitcoin is cryptocurrency,created and held electronically on your PC or in a virtual wallet.While the blockchain is possesses the ability of having permanent records of the transactions the blocks are used,for and at any time people can see those changes on line in real time.
Bitcoin is a cryptocurrency, created and held electronically on your PC or in a virtual wallet. No one controls it or sees it..Blockchain possesses the ability of having permanent records of the transactions the blocks are used for, and at any time people can see those changes online in real time.
Bitcoin is a coin made with algorithmic calculations that have a limited number of ordinary we call cryptocurrency. Blockchain is a technology used by Bitcoin.
yeaa its right that bitcoin is using blockahin network to make sure that bitcoin will work to do transaction and the place to stroe the data, so blockchain is like the databasse, if in web or other programming we have mysql, posgre, oracle. in bitcoin and cryptocurrencies we have the blockchain.
Bitcoin is cryptographic code which is anonymous in transactions and we can send a peer to peer with no need to reveal identity whereas blockchain is open ledger with is uneditable and store entire data and open source anyone can view
bitcoin is one type of digital currency. whereas blockchain is a technology system that underlies bitcoin, blockchain shows all transaction data that ever happened in bitcoin network.
a block chain is digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.while bitcoin is a decentralized digital currency that uses block as its ledger..
Bitcoin is a digital currency.its used blockchain technology.without blockchain,cannot called bitcoin is a cryptocurrency.blockchain is a record of transaction.I think bitcoin and blockchain are both of part of upgrade financial ,digital technology.
What is the difference between Bitcoin and Blockchain? Most people are misguided right now, where many say Blockchain is the same as Bitcoin. But actually both are different but interrelated.
Bitcoin is one of the digital currencies, this currency is known as crypto currency and is done in a distributed peer-to-peer that can be transferred instantly and securely between two people in the world. It's like electronic / digital money that can be used to pay merchants or send money to friends or family.
Blockchain is the ledger record of all crypto transactions in the form of blocks that once executed. The transaction records in this ledger continue to grow as each 'finished' block is added to it with a new recording set. Blocks are added to the blockchain in a linear and chronological way. Blockchain has a platform and currently uses the Bitcoin protocol.
Bitcoin and blockchain are part of Financial Technology that shook the world of banking around the world because it is more transparent and more secure. Without any control from the government.
Bitcoin is one of the digital currencies, this currency is known as crypto currency and is done in a distributed peer-to-peer that can be transferred instantly and securely between two people in the world. It's like electronic / digital money that can be used to pay merchants or send money to friends or family.
Blockchain is the ledger record of all crypto transactions in the form of blocks that once executed. The transaction records in this ledger continue to grow as each 'finished' block is added to it with a new recording set. Blocks are added to the blockchain in a linear and chronological way. Blockchain has a platform and currently uses the Bitcoin protocol.
Bitcoin and blockchain are part of Financial Technology that shook the world of banking around the world because it is more transparent and more secure. Without any control from the government.
I believe that we should go simple as much as we can to make the other person familiar with the topic that we are trying to explain. I always use the real-life examples when it comes to explaining Bitcoin/blockchain to a layman and as far as my observation, that works.
Example: If I have to explain Bitcoin to someone, I use the example of email system and start with the basics like the public key is similar to the email address and the private key is a kind of password and so on. However, the crucial part is when I have to explain the core concept of money. Everyone says USD/INR/EUR is more secure as it is controlled by the governments. It takes much time to explain the difference between centralization and decentralization rather than blockchain or technology part.
Example: If I have to explain Bitcoin to someone, I use the example of email system and start with the basics like the public key is similar to the email address and the private key is a kind of password and so on. However, the crucial part is when I have to explain the core concept of money. Everyone says USD/INR/EUR is more secure as it is controlled by the governments. It takes much time to explain the difference between centralization and decentralization rather than blockchain or technology part.
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