the The Blockchain is considered by many as the breakthrough Innovation behind Bitcoin. But Bitcoin is more than just a chain of data blocks. Has a sense a Blockchain without Bitcoin-like Asset, accordingly, at all?
By Alex Roos
On the 27. November 2018 share Facebook Twitter LinkedIn xing mail
Blockchain yay, Bitcoin nay” is the attitude of many established companies to the technological phenomenon of the 21st century. Century. On the one hand, the big players want to be hip and innovative, on the other hand, undermines the decentralised technology equipped power structures. Therefore, Bitcoin is hushed in such circles is usually active. In contrast, the Blockchain technology is very popular. Finally, the Blockchain technology is the essence of Bitcoin and the fundamental innovation that could be used to overtake a number of processes. Hence, gain efficiency, without the middle men to be abolished. But is that true?
Peer-to-Peer-Revolution
Bitcoin is much more than just a Blockchain. Because Bitcoin is a sophisticated, digital money system without a controlling Institution. The participants can send each other money directly, as easy as you can also send E-Mails. Documented these Transfers on the Blockchain. To ensure their integrity is the task of the Miner, are in competition with each other. Thus, a transaction is confirmed, you must provide a Miner-the so-called Proof of Work. As a reward for the proven to work, the Miner gets a digital, on the Blockchain virgin Asset: Bitcoin. The Blockchain is only one component in the electronic Peer-to-Peer Cash System. In addition to the Proof-of-Work, the Asset, Bitcoin plays an essential role. In other words, the digital Asset serves as an incentive for the Miner to perform their work. Even more, it gives the whole construct a unit of value transferred and can be measured. In addition, Bitcoin is open for anyone and the computer code can be verified. Therefore, the genius of Bitcoin goes far beyond “the Blockchain”. Consequently, the concepts of Bitcoin and the Blockchain are not synonymous. For this reason, Onur discuss and I will follow this topic in today’s Podcast.
Onur Akpolat from the crypto-hero (image: Onur Akpolat)
Onur Akpolat is thrilled currencies of Crypto and says: “This is the digital Revolution, I’ve been waiting for“. From his passion, he cried with a Hung Tieu the crypto hero-Podcast. In today’s Episode, he is with us in the BTC-ECHO Podcast Studio and philosophise with me about the usefulness of block chains without the Coin.
Bitcoin Q&A: Bitcoin vs the blockchain
watch This Video on YouTube.
show notes
articles
article about Alex mentioned Event Delayed Proof of Work (dPoW) in the case of Komodo comparison between Ethereum, Hyper Ledger Fabric and Corda Websites say distributed the Save Sia Hyper Ledger Fabric
crypto-heroes
The Website of the crypto-hero Onur on Twitter Telegram group of crypto-hero
If the result has brought new insights, or you want something, write me an E-Mail and the BTC-ECHO Discord-channel.
