Blockchain vs Bitcoin

Blockchain

What is Blockchain

Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization.

Digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

Blockchain

Check-Out Video Explanation on Blockchain

What is Bitcoin

Bitcoin is a computer file which is stored in a ‘digital wallet’ app on a smartphone or computer. It is believed to be created by Satoshi Nakamoto & came into picture in 2009.

Bitcoin is a decentralized digital currency, without a central bank or single administrator

Bitcoin
Bitcoin

Understanding Transactions on Blockchain

Blockchain Transaction

Every transaction is attached with hash code which is unique and can not be altered. Mathematical solution that verifies the transaction is attached into the block which can not be changed by reverse engineering.

Various Blockchain Solutions

Blockchain Solutions

Following are the best solutions from Blockchain networks:

  1. No or negligible transaction fees
  2. Avoid Double payments
  3. Stable financial system
  4. Totally Hack proof

Blockchain and Bitcoins are getting popularity because of technical reasons discussed in the video . Stay tuned for many more articles on Blockchain technology & cryptocurrencies. 

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