And I need to emphasize that Bitcoin is a ledger first, and a currency second...Bitcoin is above all a database. What is this database used for? It is used for keep accounts. What kind of accounts does it keep? It records the transaction and transfer records of Bitcoin between different people. This is what Bitcoin does. It exists as an exchange equivalent, as a medium of exchange. When we all regard Bitcoin as the general equivalent in our transaction process, it plays the role of currency. Then it is considered a currency.
I think it is inappropriate to directly compare the accounting of Bitcoin with the accounting of the central bank.
Most of the current blockchain projects either use the UTXO model as the underlying data structure, or use the account balance model to store transaction-related information.
- The UTXO model organizes the input and output of all transactions in a chained manner. The output of each transaction can eventually be traced to a Coinbase, which is the first transaction of the block when Bitcoin is currently mined.
- The account model is easier to understand, each person’s account and transactions are recorded separately
My answer is that if all external factors are removed, Bitcoin is a distributed database.
The database you mentioned is not valid in my opinion. Because in the blockchain you cannot deduce from his hash what his content is. So the blockchain is meaningless as a database.
IPFS，I have briefly understood this thing before.Maybe this concept is more in line with the database you mentioned