Bitcoin vs Blockchain

Bitcoin is the digital currency that utilizes cryptocurrency and it is controlled by the decentralized authority which is not like the government-issued currencies whereas the blockchain is the type of the ledger recording all of the transactions that are taking place and helps in facilitating peer-to-peer transactions.

Bitcoin vs Blockchain Differences

Whenever we talk about bitcoin and blockchain, people generally think they are the same because bitcoin was the first-ever application of blockchain. People usually mistake bitcoin vs blockchain.

Since then blockchain has undergone huge technological changes and now blockchain is even catering to other industries as well.

Bitcoin-vs-Blockchain

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Bitcoin vs Blockchain Infographics

Here we provide you with the top 6 difference between Bitcoin vs Blockchain

Bitcoin-vs-Blockchain

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Bitcoin vs Blockchain Key Differences

Here are the key difference between Bitcoin and Blockchain–

  • One of the key differences between bitcoin and blockchain is the adaptability. When we look at bitcoin, we look at something that is rigid and concentrates on cross-border transactions. While blockchain first started out as a ledger of the bitcoin currency, but it began to improve and slowly started catering to other industries as well. It has made continuous improvement in technology and now blockchain is the hottest thing running in the market right now.
  • Bitcoin is a cryptocurrency that is used to reduce the transaction charges and transaction time of cross-border transactions. The blockchain is a distributed ledger that enables peer-to-peer transactions in one of the safest environments. Transactions done through blockchain are made public so that it can be transparent.
  • Bitcoin is a little bit closed system and it very much likes anonymity. Even when we find the transactions in the ledger, bitcoin vs blockchain are recorded in numeric codes that people can’t understand and that is why it is unable to move forward. On the other hand, blockchain has been working with various industries and hence it should comply with the rules and norms of the companies like the anti-money laundering, knowing your customer etc. So, it shows all the transactions clearly and the public has full access to the ledger thus companies trust more on the blockchain.

Bitcoin vs Blockchain Head to Head Differences Between

Now, Let’s have a look at the head to head difference between Bitcoin vs Blockchain–

The basis for comparison between Bitcoin vs BlockchainBitcoinBlockchain
What is it?A crypto-currencyA ledger
Main AimTo simplify and increase the speed of transactions without much of government restrictions.To provide a low cost, safe, and secure environment for peer-to-peer transactions.
TradeBitcoin is limited to trading as a currency.Blockchain can easily transfer anything from currencies to property rights of stocks.
ScopeThe scope of bitcoin is limited.The blockchain is more open to changes and hence has the backing of many top companies.
StrategyBitcoin focuses on lowering the cost of influencers and reduces the time of transactions but is less flexible.Blockchain can be adapted to any change and hence it can cater to different industries.
StatusBitcoin likes to be anonymous and hence even though we can see the transactions in the ledger, they are numbers that are not in any particular sequence.As blockchain works with various businesses, it should have compliance with KYC and other norms. Hence blockchain is very transparent.

Bitcoin vs Blockchain – Final Thoughts

Both bitcoin and blockchain have their own strengths. Now in this digital age, it is certain that more and more people will look at how they can get the advantage of bitcoin and blockchain. With millions and millions of cross-border transactions being done every day, bitcoin and blockchain will make the lives of the people easier.

But with the improvisation of blockchain technology, it has more applications than bitcoin. Bitcoin was the first cryptocurrency and since then many cryptocurrencies have been invented and used. As a result, the popularity and importance of bitcoin have significantly reduced.

This has been a guide to the top difference between Bitcoin and Blockchain. Here we also discuss the Bitcoin vs Blockchain along with infographics and comparison table. You may also have a look at the following articles –

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  1. budger says

    very nice work
    a lot of creativity.. <3 !

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