bitcoin and blockchain

Difference between Bitcoin and Blockchain

What is Botcoin: Jaiinfoway
What is Botcoin: Jaiinfoway
Difference Between Bitcoin & Blockchain
Difference Between Bitcoin & Blockchain

What is Bitcoin

  • Bitcoin is the first cryptocurrency. It is a form of digital currency that operates outside the boundaries of a central authority and can be used for performing online transactions.
  • Bitcoin transactions are stored and transferred using a distributed ledger on a peer-to-peer network that is open, public.

What is Blockchain

  • Blockchain is a distributed database technology, which restricts bitcoin.
  • It is a digital ledger that was created to record bitcoin transactions among the parties.
  • Due to decentralized nature blockchains are incredibly secure as there is no single point of attack.

Difference Between Bitcoin & Blockchain

  • Bitcoin is a cryptocurrency whereas Blockchain is a distributed database.
  • Bitcoin is limited to trading as a currency whereas Blockchain can easily transfer anything from currencies to property rights of the stock.
  • Bitcoin main aim is to simplify and increase the speed of transactions without much government restrictions whereas blockchain’s aim is to provide a low cost, safe and secure environment for peer to peer transactions.
  • Bitcoin promotes anonymity, while blockchain is about transparency.
  • Bitcoins are simply a digital token while blockchain works as a distributed database for recording transactions.

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