Topic: difference between bitcoin and blockchain - page 6. (Read 726 times)
It's all very true with what you say in your post, and therefore all bitcoin transactions in blockchain can not be deceived or baited because with a decentralized system.
it is called crypto because it was built in a way that it cannot be copied this was done one the blockchain,
It is called crypto because the whole idea is based on Cryptographic hash function not because "it cannot be copied".
without the blockchain there can be no decentralization of bitcoin.
Blockchain is only one thing that used to achieve decentralization. Decentralization can be achieved even without block chain. There are new technologies like hash graph.
Your explanation is bit misleading.
What is the purpose of this thread???
Comparing Bitcoin and Blockchain is bit unusual. Blockchain is a data structure while BTC is a Cryptocurrency.
Why do you compare two different things???
It is true that bitcoin is a coin created from Blockchain technology, and blockchain is like a book to record all transaction activities, and blockchain is the most sophisticated technology greeting the world today with a decentralized system.
The difference between bitcoin and blockchain is that bitcoin is a digital money in a virtual wallet while blockchain is the technology being used. Blockchain is a protected ledger that protects your every transaction transparent. Bitcoin is the token traded and it is built in blockchain.
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.
Bitcoin is a new currency that was created in 2009 by Satoshi Nakamoto. No middleman is required to transact in bitcoin. Payment is directly sent from one person's account to the other person's account without any middleman or agent or the bank. Bitcoin can be used to book hotels , online shopping of clothes, electronic items, eatables also being purchased in few countries. Big giants like Samsung also given approval to accept bitcoin as receipt of their dues from their customers. People though are holding / acquiring bitcoin with the intention of getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.
A list of records / blocks ; linked and secured using cryptography which is continuously growing is called blockchain which was invented by Satoshi Nakamoto. Modification to data is not possible. It is an open to all, visible ledger recording efficiently, transactions between two parties.
A list of records / blocks ; linked and secured using cryptography which is continuously growing is called blockchain which was invented by Satoshi Nakamoto. Modification to data is not possible. It is an open to all, visible ledger recording efficiently, transactions between two parties.
It is true that bitcoin is a coin created from Blockchain technology, and blockchain is like a book to record all transaction activities, and blockchain is the most sophisticated technology greeting the world today with a decentralized system.
Bitcoin is just the token that are used to transfer value. The Blockchain is a decentralized ledger that keeps track of the transfer of tokens from one owner to the other. This might be a over simplified way to define this, but it works for me. The token can be a currency or commodity, depending on how it is used by the owner.
When you hear a company talking about the implementation of Blockchain technologies, you have to ask What token they will be using. The token will determine if it is Bitcoin or not, and this is very important.
When you hear a company talking about the implementation of Blockchain technologies, you have to ask What token they will be using. The token will determine if it is Bitcoin or not, and this is very important.
Bitcoin is a coin currency built on the blockchain, while the blockchain is like a decentralized database with no owner.
Well said!
instead of putting the definition in your own words and make it more complicated and also make mistakes in some places it is best that you read some trusted sources
for example this doesn't make any sense:
for example this doesn't make any sense:
it is called crypto because it was built in a way that it cannot be copied
it is called a crypto-currency because it uses cryptography! Your example is splitting hairs. "Crypto" is synonymous with cryptography.
According to Merriam-Webster the #2 definition of "crypto" is Cryptography.
instead of putting the definition in your own words and make it more complicated and also make mistakes in some places it is best that you read some trusted sources like this one: https://en.wikipedia.org/wiki/Blockchain or https://www.coindesk.com/information/what-is-blockchain-technology/ and understand what it really means. if you want to share it then simply quote the same text and put the reference here.
for example this doesn't make any sense:
for example this doesn't make any sense:
it is called crypto because it was built in a way that it cannot be copied
it is called a crypto-currency because it uses cryptography!
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.
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