Difference between Blockchain and Bitcoin

in #blockchain3 years ago (edited)

bitcoin.jpg

While people are increasingly developing interest in Blockchain and Bitcoin, many often inadvertently use these words interchangeable to mean the other.

why?

Because, people often think both words are the same. however, they both are entirely different in terms of meaning and functionality.

How?

Blockchain is basically an accounting system developed purposely to keep accurate and transparent records of a distinct desirable digital currency (Bitcoin). therefore one can say because of Bitcoin, Blockchain was developed. Right?

So just picture blockchain as the accounting technology on which any transaction using Bitcoin as a currency can be traced.

Now that this is being said, Bitcoin is basically a digital currency designed purpose to provide seamless peer to peer transaction without any middlemen and with little or no transaction fee. this coin is then stored in a secured wallet called the Bitcoin wallet of a particular holder.
which means that, without a bitcoin wallet an individual can not possess or keep Bitcoin.

Final words

Therefore, without blockchain, an individual can not conduct any transaction with Bitcoin as a digital currency.

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woow.
well said.
insightfully engaging.

thanks man