Bitcoin and Blockchain?

[ololajulo]

Bitcoin is not the first blockchain project but it is the first successful blockchain project that serve a purpose,especially in finance. Now we have some developments with blockchain idea and purpose but does not bear the name. Some of the improvement in the blockchain line is the smart contract but we later see the improved version that looks more secure and gave the second coinmarket cap a threat for the adoption and use.

[24Kt]

Blockchain can do without Bitcoin, but Bitcoin can't do without Blockchain. Blockchain has been around for long, but there was no use for it for as much as I can remember. So, Bitcoin played the key role of making Blockchain popular. It was after Bitcoin was created that people started to think of other ways that the Blockchain can be used. As for now the only thing that has been achieved with Blockchain is just the transaction part and nothing else. Other things that has been said to be possible includes voting, education, etc. Let's look forward to all that.

So, you can understand now that blockchain technology is something which makes bitcoin possible. It is kind of distributed ledger where our bitcoins resides and our transactions are recorded in a manner no one could manipulate on own wish.

I always wonder on in what other possible ways bitcoin would have been designed along with no central authority to issue bitcoins and to verify bitcoin transactions? I could not find an answer for it. So, to have a decentralization, we must need blockchain to govern all these things yeah blockchain is taking care of what a central authority or a engine (the core part of a software) in a software/business is doing for example paypal (issuing of new money is missing).

So right now, the rise of blockchain technology is owed to bitcoin. It makes this technology popular to many. It paves the way on realizing that blockchain tech has a lot of benefits if utilized correctly. So right now, we are grateful that bitcoin is invented via blockchain tech. It opens a lot of doors for this technology.

[Rulelies]

Blockchain without bitcoin comes first. Blockchain can exist without bitcoin existing but it can’t be the opposite way because bitcoin and other coin are built on the blockchain. Blockchain is the foundation.

[witcher_sense]

Blockchain without bitcoin comes first. Blockchain can exist without bitcoin existing but it can’t be the opposite way because bitcoin and other coin are built on the blockchain. Blockchain is the foundation.

Before claiming that blockchain is more important than bitcoin, please consider some features that make blockchain an unique technology. What is interesting about blockchain in case of bitcoin network. It holds an information about transactions made within the network. That information cannot be erased or rewritten without doing some expensive work. Everything is slow inside blockchain, it is essential aspect to provide a decent security, otherwise full nodes wouldn't be able to check if consensus rules are followed. No one would want to maintain security in the network on blockchain without an incentivizing aspect such as block reward in native currency. To provide a security on a decentralized basis, the network must have something that makes its participants to operate honestly. If consesnsus rules are not respected by someone, that participant cannot recieve a reward or propagate a transaction. If there is only technology without any rules then it will be look like an ordinary database where you can change everything you want. Blockchain like that had existed before bitcoin, but it wasn't interesting and unique back then.