Sep By Mr Singh 5 369 0 Comments
What is the relationship between bitcoin and blockchain?

Blockchain is Bitcoin’s underlying technology, and Bitcoin was its terribly 1st application. As mentioned before, every Bitcoin transaction is recorded on a decentralized ledger, which is the blockchain.

Bitcoin is digital payment system running on Blockchain technology the system was designed to work without any central authority.

Bitcoin is a digital currency, created with the intention to simplifying online transactions by bypassing government controller currency. This is done by storing in transaction currency over a network called blockchain - rather than using the central banking system.

You buy and sell Bitcoin using dollars. What it actually is to you is money. Each of your transaction is stored in a bank database.

The blockchain that underlines the bitcoin has some crucial similarities, but also a key differences to a blockchain built for business.

Blockchain technology may be a term that's relating a system that enables for transparent record keeping. it's a public ledger, and lots of cryptocurrencies rely on blockchain so as to store transactions and make sure that there's not a risk of fraud occurring. whereas this new and exciting technology without doubt owes an large portion of its reputation and popularity to the actual fact that triple-crown cryptocurrencies run on its system, blockchain technology is not exclusively related to the world of finance..

You will find more about these:

  • blockchain definition
  • blockchain wiki
  • blockchain for dummies
  • blockchain explained
  • blockchain applications
  • blockchain tutorial
  • how does blockchain work
  • blockchain technology
  • what is blockchain
  • bitcoin transaction
  • blockchain wallet
  • blockchain and cryptocurrency
  • blockchain info
Comments
Leave a Comment

Latest Cryptocurrency News
Uganda shilling remains broadly stable
19 Feb 2019

Uganda shilling remains broadly stable

Now, Uganda Shilling is stable as cryptocurrency market expert focus on setting of mid-month tax duty. Demand was overcast with transaction confined in the range of 3665/3675, barely unaffected from the early session of the week. In the interbank cur.. Read More