ESDS Knowledge Base

19
Jun

What is the difference between Bitcoin and Blockchain?

Though Bitcoin and Blockchain are closely related, they are not the same.

a.Definition: Bitcoin is a crypto-currency, a type of unregulated digital cash. Blockchain is a ledger that records transactions.
b.Aim: Bitcoin offers increased speed of transactions without government restrictions. Blockchain provides a low-cost, secure and safe environment for peer-to-peer transactions.
c.Flexibility: Focused on lowering the cost and time of transactions, Bitcoin is less flexible. Blockchain is open to changes and hence, can cater to a vast number of industries.

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