What is the difference between Blockchin and Bitcoin

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I am learning about Blockchain and I want to know what is the difference between Blockchain and Bitcoin
Jul 13, 2018 in Blockchain by Mrunal
• 680 points
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1 answer to this question.

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Blockchain has potential beyond Bitcoin and cryptocurrency. Bitcoin will help you to understand other Blockchain applications Bitcoin is a cryptocurrency use case of Blockchain Technology

  • Blockchain gives a decentralized ledger
  • Blockchain changes the traditional way of transactions
  • Blockchain have both Business perspective and Technical perspective
  • It removes the trusted third party and uses peer to peer transactions
  • The blockchain is Decentralized, shared and open ledger which is shared among all different nodes
  • Blockchain can coexist with other internet technologies

The Blockchain structure looks like this:

image

Bitcoin is a digital payment system running on Blockchain technology the system was designed to work without any central authority

  • Working with bitcoin you don’t need to know the technical aspects
  • The Bitcoin payments are irreversible
  • The Bitcoin Blockchain have the same data structure as other applications of Blockchain
  • Bitcoin includes Merkle tree
  • Bitcoin network is dynamic as any node can join or leave the network.

Bitcoin and Blockchain have a lot to discuss. Hope this description will help you and to know more about bitcoin and Blockchain visit to this tutorial: https://youtu.be/9qfxLo1rt1Q

answered Jul 13, 2018 by shweta
• 440 points

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