Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: What is the relationship between bitcoin and blockchain?
by
frery
on 26/01/2018, 05:19:58 UTC
⭐ Merited by wolf one (1)
With respect to the blockchain, almost all of the technology is available before bitcoin, but no one thinks it works until bitcoin, so bitcoin is the first successful application of blockchain technology. To the extent that bitcoin is the first blockchain there's nothing wrong with it. If you want to understand the blockchain technology, Bitcoin is indeed a thing that can't go around.
As a decentralized, shared and encrypted distributed ledger technology, blockchain has three salient features: decentralized, traceable, and unreadable, so blockchain technology has transactional autonomy and saves regulatory costs , great confidentiality and security. However, the blockchain has been only a low-level technology for a long time and the application scenarios have not progressed smoothly. On the contrary, the digital tokens derived from it, such as Bitcoin, Ethereum, and all kinds of tokens, have suddenly become the darlings of the capital market and have become the objects of people's esteem and speculation.