Blockchain vs Bitcoin

This blog, we will shortly discuss difference between Blockchain vs Bitcoin

What is Blockchain?

Blockchain technology is a decentralized digital ledger that records transactions across a network of computers. This innovation ensures transparency, security, and immutability of data, making it nearly impossible to alter once recorded. Its applications extend beyond cryptocurrencies, influencing sectors like healthcare, finance, supply chain management, and more. At its core, blockchain operates on the principle of distributed ledger technology (DLT), where each block in the chain contains a number of transactions; every time a new transaction occurs, a record of that transaction is added to every participant’s ledger.
CK Simplifies: Imagine you’re in a class where everyone shares notebook. In this notebook, everyone writes down every exchange they make with each other—like trading sandwiches, pencils, or even notes about homework. This notebook is special because:
1. Everyone can see it: Everyone in the class can look at the notebook anytime, so everything written in it is public knowledge.
2. No cheating: Once you write something in the notebook, you can’t erase it. This means everyone must be honest about what they trade.
This shared notebook is like the Blockchain. It’s a system where everyone can see every transaction, and once something is written down, it can’t be changed or deleted.

Bitcoin is introduced back in 2009 by an anonymous entity known as Satoshi Nakamoto, is the first and most well-known cryptocurrency. It’s a form of digital currency that operates on blockchain technology, allowing secure peer-to-peer transactions across the internet. Unlike traditional currencies, Bitcoin is decentralized, meaning it’s not controlled by any government or financial institution.