Normally, lots of people feel that the blockchain & Bitcoin are synonymous. However, fundamentally, both of them are the worlds apart. In each word, Bitcoin is the currency that you will purchase, trade, and invest in. It isn’t something that you will do with the blockchain. Alternatively, blockchain is the technology that powers Bitcoin network and supports all the digital currencies.
All countries across the world are also trying hard to adopt the blockchain tech. On a contrary, lots of countries all over the world have banned the use of Bitcoin.
Bitcoin & blockchain: An example
The blockchain is a technology & pitting it against the virtual currency isn’t the fair comparison. The functionalities may overlap, but it is where you will draw a line. For the better knowledge, you can compare the Bitcoin and blockchain together with combination of the AI and robotics. AI is the technology, which is quite important when building robots. However, AI isn’t the robot in itself. The robot is helpful to perform the routine daily activities. However, robot functions in the pre-defined rules and has AI. Thus, functioning of the robot relies over AI. In a same way, Bitcoin is the digital currency. This can prove very useful for daily transactions. But, functioning of digital currency generally relies on the blockchain technology.
The blockchain is one radical technology, which has potential of changing your enterprise approach to the business. So, do you know when internet was in the nascent stage, concept gaining people’s approval? Also, you can say that the blockchain tech is what internet was during early nineties. The blockchain makes this possible to execute, record, as well as maintain the database for the transactions in decentralized network. This is scalable and can encompass the entire world in the single interface.