BlockChain and Bitcoin

[KennyR]

I always see people having misunderstanding about blockchain and bitcoin. To make it easy understandable I've tried making a tabulation from my understanding about Bitcoin and BlockChain.



I made a tabulation, but that doesn't look good. So I've took a snapshot and has added it here.

Thank You

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[pooya87]

Bitcoin is an innovation out of blockchain technology.

There wasn't really a "blockchain technology" before bitcoin came along so you can't say bitcoin came out of it. Bitcoin and blockchain aren't separate, Bitcoin is an innovative technology that defines blockchain technology.

There are much more real-time usage of blockchain technology apart from bitcoin.

There really isn't.

Blockchain transfers data, information, ownership rights and more other things between users   

Blockchain is the database that stores data. It doesn't transfer anything.

In all industry the usage of blockchain is getting more importance and some have already adopted it   

I haven't seen a single industry use blockchain to this day!

BlockChain technology is adopted by Estonian Government on all its governance   

Can we really call a centralized private database that uses cryptography (hash-value data submission) a blockchain? I don't think so.

As there is no central server to be targeted, the technology is more secure than the traditional centralized system.

This is not a characteristic of blockchains, it is a characteristic of bitcoin.

[Zilon]

Bitcoin is dependent on Blockchain technology for it's full functionality and not until the outbreak of Bitcoin Blockchain technology was still hidden despite it's vast application in the society. Bitcoin is just an aspect of Blockchain technology making Blockchain a network of different innovations built upon trusted database. Remember Blockchain can either be centralized or decentralized depending on the intent of the developers and the level of permission granted.

[davis196]

Bitcoin is dependent on Blockchain technology for it's full functionality and not until the outbreak of Bitcoin Blockchain technology was still hidden despite it's vast application in the society. Bitcoin is just an aspect of Blockchain technology making Blockchain a network of different innovations built upon trusted database. Remember Blockchain can either be centralized or decentralized depending on the intent of the developers and the level of permission granted.

What are you talking about?
A "centralized blockchain" isn't a blockchain at all.
It cannot be called a blockchain.It's just a database hosted on a bunch of servers.Somebody might call it a blockchain,but that doesn't make it a blockchain.(I'm not an expert on this topic,by the way).
Do we really have to try to explain what Bitcoin and blockchain technology are a million times?
Are we living in 2010-2013?I believe that the vast majority of the forum users already know all the concepts of Bitcoin Core,blockhain,mining,hashrate,etc.
Satoshi left a whitepaper.I wish that all the newbies entering the Bitcoin community could just read it.
If they don't understand something,there are plenty of old posts in the forum around this topic.
There's no point of starting topics,which were ended years ago.
 

[Dhaniii]

I don't think bitcoin is from the blockchain framework we've been talking about. because in the past bitcoin was present, the new blockchain was mentioned so far. blockchain is only a supporter born in the future in the process of digital money transactions. before blockchain was created in the concept of digital money bitcoin was included in commodity assets and now bitcoin has been included in the legal medium of exchange in certain countries.

[pooya87]

A "centralized blockchain" isn't a blockchain at all.
It cannot be called a blockchain.It's just a database hosted on a bunch of servers.

It is. A blockchain is simply a very inefficient form of database where data packets known as "blocks" are "chained" together using cryptography. For example XRP or the project Facebook pursued for a while or Petro (Venezuelan govcoin) are all centralized blockchains.

[hugeblack]

I recommend you to stay away from getting information from magazines, TV channels, Binance academy, paid topics, news bulletins, non-specialized forums, and telegram channels.
If you want to learn, books, Wikipedia and some good YouTube channels^[1] are the starting point, but you should always ask questions and try to get convincing answers.

So according to Wiki:

A blockchain is a growing list of records, called blocks, that are linked together using cryptography.
Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree).

Source --> https://en.wikipedia.org/wiki/Blockchain

By reading sources above, you will find more information.

[1] https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ

[kryptqnick]

There are much more real-time usage of blockchain technology apart from bitcoin.

There really isn't.

Blockchain transfers data, information, ownership rights and more other things between users   

Blockchain is the database that stores data. It doesn't transfer anything.

In all industry the usage of blockchain is getting more importance and some have already adopted it   

I haven't seen a single industry use blockchain to this day!

While its potential might be overhyped and it did not become dominant in any area that isn't cryptos, there were some use cases explored. There have been experiments with Blockchain voting (here's an example of an experiment in Virginia), ticket validation for events and similar things. Ukraine also plans to transfer various state registers onto Blockchain in a few years, according to its roadmap of adoption of cryptos and digitalization.

A "centralized blockchain" isn't a blockchain at all.
It cannot be called a blockchain.It's just a database hosted on a bunch of servers.

I think that even if it's centralized, we can call it blockchain as long as it functions as such (storing data with it being impossible to fake or modify it). If that does not count, why is this word used often when use cases of blockchain are explored?

[PreciousH]

Blockchain is a data ledger specifically developed for bitcoin. And you know, bitcoin is a digital currency where users can transfer bitcoins without the need of a third party. Great forum!!

[witcher_sense]

I think that even if it's centralized, we can call it blockchain as long as it functions as such (storing data with it being impossible to fake or modify it).

It is not the blockchain technology itself that provides immutability (no one can modify it) and tamper resistance (no one can fake it), but the consensus algorithm used to achieve agreement on the current state of the network, and the degree of distribution of sovereign peers that verify and enforce these consensus rules. In the case of centralized blockchains, the cost of network alterations is usually much less than that as in the case of Bitcoin's Proof-of-Work algorithm, and all the decisions regarding what consensus rules should be, who are to enforce and verify them, who can or can't join the network, are made by a centralized entity. It usually has enormous power over the blockchain, it can almost freely modify it, fake it and rule it.

[franky1]

a blockchain is simply this,
its a bunch/batch/block of data wrapped up with a hash code derived from a complex math of the contents of said data.
each block also contains the hash of the previous block of data. thus chaining the blocks together.
if the data changes, the hash changes. making it easy to spot any edits, deletions or malicious data manipulation.

blockchains can be distributed to:
thousands of independent people (of no familial, employments or friendship relationship in real life)
closed groups or organisations within a relationship/employment

blockchain has many layers of risk/safety depending on how they are set.
EG if there is only one developer team that make the upgrade decisions, this can become a central point of failure
EG if the blockchain is only distributed on systems within a company, this can become a central point of failure
EG if the block collation and hash solution(mining) is done within sole entity, this can become a central point of failure

blockchains are more secure the further they can achieve not having central points of failures. but this does not mean blockchains are not blockchains simply because they are being used inside a company on individual workers desktops
.
blockchains are not required to only hold certain 'currency' data. blockchains can be used for many things.
the first example of blockchains was using a currency payment system as the data within the blockchain. this currency was bitcoin.
..
blockchains that have a true cost of creating the secure block hash(PoW) are more secure then blockchains that can make blockhashes for free(PoS). because if there is no cost at risk. anyone can try to game the system. if there is cost at risk then people are more willing to stay in the rules to get paid for efforts, rather then waste money to break the rules

[hatshepsut93]

"Blockchain" is much more of a marketing term than a technical term. No one cared about blockchain until Bitcoin started pumping hard, and people realized that they can replicate this growth by selling their own "blockchain technology" to companies and investors. There is no excitement about blockchain among developers in the same way they are excited about neural networks or big data or other trends in IT.

[Cookdata]

Blockchain is a kind of technology that's very strong and good for adoption, but just in bitcoin alone but on other aspects of financial and life  but it wasn't sustainable enough to built bitcoin, that's why Satoshi added other technologies for its safety.
I will also make another small input between Bitcoin and bitcoin
People should learn to used Bitcoin when they are interactive with the Bitcoin protocol and bitcoin should strictly be for a it as a currency.
Misinformation sent to wrong person can send wrong knowledge to people.

[pooya87]

While its potential might be overhyped and it did not become dominant in any area that isn't cryptos, there were some use cases explored. There have been experiments with Blockchain voting (here's an example of an experiment in Virginia), ticket validation for events and similar things. Ukraine also plans to transfer various state registers onto Blockchain in a few years, according to its roadmap of adoption of cryptos and digitalization.

The problem is always efficiency not possibility. Otherwise you can use blockchain in a lot of weird things. In your examples for voting, ticket validation, property registration, etc. they are all already centralized and are running in the most efficient way with other types of databases that can be quickly accessed and searched. Replacing that with blockchain decreases efficiency of storage, searching and updating while increasing the size and storage burden.
The reason why this inefficient database works fine for bitcoin is because it is providing decentralization and security which wouldn't have been possible otherwise.

[uchegod-21]

I believe we don't need to stress ourselves very much to differiate between blockchain and bitcoin. They work hand in hand and heart to heart. My short relationship between is that Blockchain is the foundation upon which bitcoin is laid, and other cryptocurrencies are laid, and the foundation is still open for other companies or organisation to come and lay.

..
blockchains that have a true cost of creating the secure block hash(PoW) are more secure then blockchains that can make blockhashes for free(PoS). because if there is no cost at risk. anyone can try to game the system. if there is cost at risk then people are more willing to stay in the rules to get paid for efforts, rather then waste money to break the rules

PoS still has a cost at risk. The coin miner will donate some coins like colleteral before mining. If he will try to game the system he has coins at stake.

[franky1]

I believe we don't need to stress ourselves very much to differiate between blockchain and bitcoin. They work hand in hand and heart to heart. My short relationship between is that Blockchain is the foundation upon which bitcoin is laid, and other cryptocurrencies are laid, and the foundation is still open for other companies or organisation to come and lay.

..
blockchains that have a true cost of creating the secure block hash(PoW) are more secure then blockchains that can make blockhashes for free(PoS). because if there is no cost at risk. anyone can try to game the system. if there is cost at risk then people are more willing to stay in the rules to get paid for efforts, rather then waste money to break the rules

PoS still has a cost at risk. The coin miner will donate some coins like colleteral before mining. If he will try to game the system he has coins at stake.

coin at stake is of no loss. stakers pay no bills(to others) for making a successful block. if they are not a block solver, they also lose nothing(just dont gain anything either)
he just has to hold coin to show he is rich enough to be more important than others. he doesnt need to hand it to other people, doesnt need to spend it(lose it) just to try making a block. he just needs to have coin to have a chance of making a block. no loss

[coupable]

Blockchain technology can create a permanent, public, transparent ledger system for compiling sales data, tracking digital usage and payments to content creators, and in turn the use of bitcoin is  a digital currency that works without any central control or supervision of banks and governments.  Instead it relies on a peer-to-peer software and cryptography.

You made it somehow more confused by the way you have described the blockchain. Can you please mention which other industries are using the blockchain like the ones you mentioned as content creators for instance or sales data?
Yes bitcoin is the technology made by the cryptographic system of the blockchain and can't be run out of it, although it's not the same thing at all and the blockchain can run in other different ways like creating smart-contracts for example.

[uchegod-21]

coin at stake is of no loss. stakers pay no bills(to others) for making a successful block. if they are not a block solver, they also lose nothing(just dont gain anything either)
he just has to hold coin to show he is rich enough to be more important than others. he doesnt need to hand it to other people, doesnt need to spend it(lose it) just to try making a block. he just needs to have coin to have a chance of making a block. no loss

Contrary to what I believed.
Knowledge speaks.
Let the guru have the final say!

[Flyingjack123]

a blockchain is simply this,
its a bunch/batch/block of data wrapped up with a hash code derived from a complex math of the contents of said data.
each block also contains the hash of the previous block of data. thus chaining the blocks together.
if the data changes, the hash changes. making it easy to spot any edits, deletions or malicious data manipulation.

blockchains can be distributed to:
thousands of independent people (of no familial, employments or friendship relationship in real life)
closed groups or organisations within a relationship/employment

blockchain has many layers of risk/safety depending on how they are set.
EG if there is only one developer team that make the upgrade decisions, this can become a central point of failure
EG if the blockchain is only distributed on systems within a company, this can become a central point of failure
EG if the block collation and hash solution(mining) is done within sole entity, this can become a central point of failure

blockchains are more secure the further they can achieve not having central points of failures. but this does not mean blockchains are not blockchains simply because they are being used inside a company on individual workers desktops
.
blockchains are not required to only hold certain 'currency' data. blockchains can be used for many things.
the first example of blockchains was using a currency payment system as the data within the blockchain. this currency was bitcoin.
..
blockchains that have a true cost of creating the secure block hash(PoW) are more secure then blockchains that can make blockhashes for free(PoS). because if there is no cost at risk. anyone can try to game the system. if there is cost at risk then people are more willing to stay in the rules to get paid for efforts, rather then waste money to break the rules

Very well explained,👍... I assume blockchain is the backbone  technology which will be transforming several fields, in a way similar to how internet transformed world in 90s..
While bitcoin is both an application, a reward and a token of financial transaction  based on blockchain.