Topic: Is Bitcoin equal Blockchain? (Read 657 times)
Obviously, no, bitcoin is not the same as blockchain. Blockchain is the technology behind bitcoin, while bitcoin is a type of cryptocurrency which we all know is the most dominant and popular cryptocurrency available. Blockchain technology is complex to teach here, better research about it. Try to research so that all your questions would be answered properly.
In my opinion blockchain and bitcoin are actually not much different, blockchain is a decentralized technology that has many advantages including blockchain having transaction records (blocks) and there are also some other blockchain features such as decentralization, transparency and others while bitcoin is a cryptocurrency that runs blockchain and bitcoin technology is also the first and not decentralized cryptocurrency.
Just because some crypto coin utilizes the blockchain doesn't make it secure or popular---a lot of coins have been attacked because of how insecure their networks are. It's a massive single point of failure.
If it's not popular then people won't use it for their business, either their business is a scam or legit, this is also supporting your own words, that :
Blockchain is a buzzword to help businesses and scammers attract capital. I have never liked the idea behind a whole blockchain industry. It's 95% hype and 5% utility. One day that hype will lose its momentum....
Scammers won't be able to attract people if blockchain doesn't look enough secure, popular or whatever it is
Bitcoin is known for its immensely powerful network---security that helps maintain its data integrity. I haven't seen many people praise Bitcoin because of it being a blockchain. People value Bitcoin's network.
You are right, in this matter. Still, none of us can'r deny the fact that Bitcoin is using blockchain, Bitcoin has its on blockchain.
Bitcoin and Blockchain are equal to one, because bitcoin cannot be function without Blockchain and also Blockchain cannot have a value without Bitcoin, Hence BTC is an asset of blockchain.
No not at all Bitcoin is not blockchain. Bitcoin is merely a currency created over blockchain. Blockchain is too vast and immensely useful for everyone. It's much more than merely being a currency it's a technology which supports mining of blocks for transmission of data over an interconnection of blocks. Now this data could be anything. Many companies are trying to develop techniques to store our daily use data over the chain and make it's transmission more fast and secure. Actually the best thing about blockchain is that it is a P2P settlement method without need of high infrastructure to either of the peer. So this technology can really prove to be radical.
No. Bitcoin cannot stand alone without blockchain since without the said technology, bitcoin is just a series of algorithms put together but of no use in reality. Whereas blockchain can be a stand-alone tech integrated into some other program/systems and help record data by putting it all together in a block forming a series of chains. Essentially, bitcoin is not bitcoin without blockchain but blockchain can be a blockchain even without bitcoin.
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We all know that bitcoin is our future right now. Many people think if bitcoin and blockchain are the same? Bitcoin is a cryptocurrency that many people are kow using it and because of that we earn some money out of it Blockchain is a technology that connects with other people through internet.
Without blockchain, Bitcoin won't be enough decentralized. Meanwhile without bitcoin, blockchain would never be known well by most people.
Just because some crypto coin utilizes the blockchain doesn't make it secure or popular---a lot of coins have been attacked because of how insecure their networks are. It's a massive single point of failure.Bitcoin is known for its immensely powerful network---security that helps maintain its data integrity. I haven't seen many people praise Bitcoin because of it being a blockchain. People value Bitcoin's network.
Blockchain is a buzzword to help businesses and scammers attract capital. I have never liked the idea behind a whole blockchain industry. It's 95% hype and 5% utility. One day that hype will lose its momentum....
Without blockchain, Bitcoin won't be enough decentralized. Meanwhile without bitcoin, blockchain would never be known well by most people.
Just because some crypto coin utilizes the blockchain doesn't make it secure or popular---a lot of coins have been attacked because of how insecure their networks are. It's a massive single point of failure.Bitcoin is known for its immensely powerful network---security that helps maintain its data integrity. I haven't seen many people praise Bitcoin because of it being a blockchain. People value Bitcoin's network.
Blockchain is a buzzword to help businesses and scammers attract capital. I have never liked the idea behind a whole blockchain industry. It's 95% hype and 5% utility. One day that hype will lose its momentum....
Bitcoin is digital gold that runs on the technology called the blockchain. It was necessary for bitcoin to run on the blockchain because the technology is tampered proof, and transactions on it are immutable. Blockchain spreads across various works of lives.
This made me remember when my friend asked my which one is the more important, Bitcoin or Blockchain.
Without blockchain, Bitcoin won't be enough decentralized. Meanwhile without bitcoin, blockchain would never be known well by most people.
Without blockchain, Bitcoin won't be enough decentralized. Meanwhile without bitcoin, blockchain would never be known well by most people.
Is Blockchain equal Bitcoin?
Blockchain is never the same or equal to Bitcoin. Blockchain is like the system in which controls and keeps record on data or information stored in it. Bitcoin on the other is just a digital representation of currency which uses the blockchain system as the central brain control how it is stored and transact from user to another. Bitcoin can never operate without Blockchain, whiles blockchain on it own can fully function as a data ledger.
Blockchain is the techonlogy where bitcoin is dependant and all of the altcoins that are alive right now. Without blockchain transactions would be impossible for cryptocurrencies so blockchain and bitcoin/cryptocurrency will never be equal to each other, blockchain I think is alot developed than bitcoin/cryptocurrency itself.
Bitcoin is not equivalent to blockchain. Blockchain is much more richer than bitcoin, without blockchain cannot be bitcoin. Let us say that blockchain technology is the essence of bitcoin and all cryptocurrency, it is what makes them as cryptocurrency. But even though blockchain is much richer than bitcoin since this technology could be of use anywhere but blockchain cannot undermine bitcoin since the reason why blockchain was invented was because Satoshi wanted to create a digital currency named Bitcoin.
Looks like the OP has got an answer about that question. But if the OP wants to know more, why not look for it directly on the internet, it seems easy enough. Now enough people have given their opinions on this question and I think that's enough.
Of course not. Blockchain technology is a much broader concept than Bitcoin. Bitcoin is one of the first applications of the first blockchain technology products.
Therefore, almost all states accept blockchain technology, but they are ambiguous about its product, cryptocurrency.
Therefore, almost all states accept blockchain technology, but they are ambiguous about its product, cryptocurrency.
Maybe we could say, bitcoin's blockchain is the foundation of other blockchains in the market. Without the blockchain technology, bitcoin will not be secured, efficient, and worthy. We couldn't separate bitcoin with blockchain or compare them to each other. And for me, the best implementation of the blockchain is the currency. Let us not associate it with media or file storing cloud servers.
it's different, like a train with rails, like a car and wheels. like the internet and chrome, facebook, twitter, etc.
Bitcoin and blockchain are one body. but different functions. if bitcoin functions as a vehicle. then the blockchain functions as a road. Blockchain can live without Bitcoin. but bitcoin won't be useful without blockchain.
Bitcoin and blockchain are one body. but different functions. if bitcoin functions as a vehicle. then the blockchain functions as a road. Blockchain can live without Bitcoin. but bitcoin won't be useful without blockchain.
That is one of the nicest explanations I have ever heard about Bitcoin to distinguish it from the technology it uses which is blockchain:)
I think it is also equal to point out here that not all crypto are equal and the same that not all blockchain are equal. In fact some blockchain technology does not even use a blockchain (I remember like NANO,,, if I am not mistaken).
Bitcoin is blockchain but blockchain is not Bitcoin:)
Bitcoin is a kind of unregulated electronic currency which was first developed by Satoshi Nakamoto in 2008. Also referred to as a "cryptocurrency," it was released with the intent to bypass government currency control buttons and also simplify online transactions by eliminating third party payment processing intermediaries. Naturally, accomplishing this required a lot more than simply the money itself. There needed to be a safe method to make transactions together with the cryptocurrency.
Bitcoin transactions are saved and transferred utilizing a distributed ledger during a peer-to-peer system which is anonymous, public, and open. Blockchain is the underpinning technological innovation which provides the Bitcoin transaction ledger. Find out much more below and also view the video clip below for an overview more....
Bitcoin transactions are saved and transferred utilizing a distributed ledger during a peer-to-peer system which is anonymous, public, and open. Blockchain is the underpinning technological innovation which provides the Bitcoin transaction ledger. Find out much more below and also view the video clip below for an overview more....
Is Blockchain equal Bitcoin?
No, it's not. Bitcoin and Blockchain are two different entities. To further explain, blockchain is an idea of having decentralized nodes (computers) connected together with P2P (peer-to-peer), with each node having a copy of the blockchain. The blockchain mentioned here is an encrypted series of blocks, with each block pointing to the next one, with stored data (of any kind you want to) in a block. Those nodes are the ones who create each block, requires great computing power since blockchain uses high cryptography that requires fast computations.
Bitcoin, on the other hand, is more of like a currency that is built around the blockchain technology. These makes each transaction of Bitcoin untraceable, anonimous, but irreversible. This is because when even a single bit of data is modified inside a block, its pointer to the next would change and all succeeding blocks of the chain should be modified to match the encryption pattern. On top of that, more than half of the nodes should agree that a modified block is good enough to their standards, or else it would be rejected. That's why the blockchain technology is reliable in handling sensitive transactions such as money.
yes it is . when we say bitcoin we automatically think about blockchain and when we say blockchain we also think about bitcoin or vice versa .
bitcoin is equal to blockchain because bitcoin cant live alone without blockchain and blockchain is not also possible to be discovered and became popular without the help of bitcoin .
idk why most of the users here in this thread are not agreeing with that fact . they also have thier own come up theory and they only believe on it .
You understood the post wrong, OP is comparing the 2 technologies side by side, and blockchain is not the same thing as bitcoin, because the 2 things are different pieces of technology. And BTC by far is more well-known, not a lot of people actually know bitcoin is built on blockchain technology.bitcoin is equal to blockchain because bitcoin cant live alone without blockchain and blockchain is not also possible to be discovered and became popular without the help of bitcoin .
idk why most of the users here in this thread are not agreeing with that fact . they also have thier own come up theory and they only believe on it .
Bitcoin is a decentralized crypto-currency that is built on blockchain technology, and also has an open ledger of transactions.
Blockchain technology is the tech that most crypto-currencies are built on.
it's different, like a train with rails, like a car and wheels. like the internet and chrome, facebook, twitter, etc.
Bitcoin and blockchain are one body. but different functions. if bitcoin functions as a vehicle. then the blockchain functions as a road. Blockchain can live without Bitcoin. but bitcoin won't be useful without blockchain.
Bitcoin and blockchain are one body. but different functions. if bitcoin functions as a vehicle. then the blockchain functions as a road. Blockchain can live without Bitcoin. but bitcoin won't be useful without blockchain.
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