What’s the difference between Bitcoin and blockchain tech? At first glance, not all that much. After all, in some spaces, people talk about the Bitcoin blockchain. It’s all rather confusing, especially if the concept is completely new to you.

Luckily though, we have the perfect introductory from Bitcoinfy on the topic for. You can have a look at it after you’ve finished reading here, so let’s shelve that for a minute and continue on to the differences between Bitcoin and blockchain tech.

While it’s true that the two do seem indelibly linked, hang on before you write them off as one and the same.

First off, you’re right in your assumption that Bitcoin wouldn’t be able to operate without blockchain tech. But if you thought that the reverse was also true, you’d be making a mistake. Bitcoin was simply the first application of the technology.

The Present of Crypto

It was essentially a dry run to see whether or not the tech would work as expected. But that was almost 10 years ago, and we’ve come a very long way since then. We’ve moved into a field where blockchain-based apps are being developed as a matter of course.

And while the very first app was started as an alternative to standard currencies, the subsequent apps have been very diverse in nature. Take Tron, for example. Its main purpose is to act as a go-between for copyright holders and the public.

While payments can be effected on Tron’s system, the app goes beyond merely a payments system. Artists and other creatives can use the system to store their data or to record their intellectual property.

Ethereum took the concept in a completely different direction by incorporating programming language into it. This was established as a platform for designers to create and distribute applications directly to the public.

It has since evolved and now allows for the creation of smart contracts. These are essentially contracts written in code. They execute automatically, without any outside interference. And while there are some limitations to this particular function at the moment, it won’t be long before we start to find ways to address these.

To conclude, it’s probably better to look at Bitcoin as one small aspect of the entire blockchain-based app industry.   

SOURCE URL: https://bitcoinfy.net/bitcoin-and-blockchain-technology/