What Is The Difference Between Blockchain And Bitcoin?

If you’ve ever scratched your head wondering what on earth is the difference between the two, this article is for you.

What is blockchain?

In super-simple terms, a blockchain is a computer file for storing data. Or, to put it in more technical jargon, it’s an open, distributed ledger (database), which means the data contained within the blockchain is distributed (duplicated) across many computers and is therefore decentralised.

This decentralisation is one of the things that makes blockchain so transformative. Unlike in a traditional, centralised database – where records are processed by one central administrator (say, a company or government) – the entire blockchain is transparent and data is verified by user consensus. Yet, despite this transparency, blockchains are incredibly secure. That’s because there’s no one central point of attack for hackers to target.
To get in depth knowledge on Microsoft business intelligence, enrich your skills on Blockchain online training professionals

Decentralised. Distributed. This sounds a bit like Bitcoin…

You’re spot on! Blockchain is the technology that underpins Bitcoin and it was developed specifically for Bitcoin. So, Bitcoin was the first example of blockchain in action and without blockchain, there would be no Bitcoin. That’s why the two names are so often used interchangeably.

But that doesn’t mean that blockchain and Bitcoin are the same thing.

Bitcoin is a decentralised digital currency, or peer-to-peer electronic payment system, where users can anonymously transfer bitcoins without the interference of a third-party authority (like a bank or government). Bitcoin is just one example of a cryptocurrency, though; other cryptocurrency networks are also powered by blockchain technology. So although Bitcoin uses blockchain technology to trade digital currency, blockchain is more than just Bitcoin.

Looking at the wider applications of blockchain

Because blockchain and Bitcoin are so inextricably linked, it took people a long time to realise that blockchain actually has much wider applications beyond cryptocurrency networks. In fact, blockchain’s potential is so great that many people (myself included) believe the technology will revolutionise the way we do business, just like the internet did before it.

Here are just a few examples of the wider applications of blockchain beyond Bitcoin and other cryptocurrencies:

  • Executing smart contracts. Thanks to Bitcoin, we already know that blockchain is great for facilitating digital transactions, but it can also be used for formalising digital relationships through smart contracts. With a smart contract, automated payments can be released once the contract terms have been fulfilled, which promises to save time and help to reduce discrepancies or solve disputes.
  • Maintaining a shared, transparent system of record. Blockchain is the ideal solution for maintaining a long-term, secure and transparent record of assets (land rights would be a good example) that all parties can access securely.
  • Auditing the supply chain. Blockchain allows users to trace the records of ownership for goods all the way back to the source. As an example of this, Diamond company De Beers has started to use blockchain to trace diamonds from the mine to the end customer. Anyone who wants to verify that their diamonds are free from conflict will have a transparent and complete record.
  • Providing proof of insurance. Nationwide insurance company is planning to use blockchain to provide proof-of-insurance information. The tool would help police officers, insurers and customers verify insurance coverage instantly, which should help to speed up the claims process.
    To get in-depth knowledge of this technology and to develop skills to make a great career in this regard one can opt for Blockchain online training Hyderabad.

#blockchain online training #blockchain online course #blockchain training #blockchain course #blockchain online training hyderabad #blockchain online training india

What is GEEK

Buddha Community

What Is The Difference Between Blockchain And Bitcoin?
Giles  Goodwin

Giles Goodwin

1596920160

Adding Messages On The Bitcoin Blockchain - A How-To Guide

Hey!,

Today Luca asks:

Can I write on a Bitcoin Blockchain? Can I drop down a message?

Yes, Luca of course you can! You can leave a message on a Bitcoin blockchain using a particular op code, called **OP_RETURN**.

Through this operation code, your UTXO became unspendable! You can use at most 80 bytes for your message (160 hexadecimal characters)!

This operation is known as “timestamping of write information” because the message will become part of a block with a timestamp as well.

In Action

Can I write on Bitcoin Blockchain? — Italian Language 🇮🇹

First of all, I get a SegWit address from my testnet node.

$ bitcoin-cli getnewaddress "" "bech32"
tb1qrggdlvezgd4uy9mntz50mpmwd6l4vk9rm4ft3d

I need bitcoins! I need to use a faucet service such as: https://bitcoinfaucet.uo1.net/send.php

After that, I can check my mempool and find my TX ID.

$ bitcoin-cli getrawmempool | grep c5ce66d638f1b8ca702dfb8f7d1da7a6707d9c6497212dc66829c99f69b28b9a

the c5ce66d638f1b8ca702dfb8f7d1da7a6707d9c6497212dc66829c99f69b28b9a is the faucet’s transaction.

When can I use my UTXO?

I can use it after the mining process.

Please recover my UTXO with **listunspent** command.

$ bitcoin-cli listunspent 1 101 '["tb1qrggdlvezgd4uy9mntz50mpmwd6l4vk9rm4ft3d"]' | jq
[
{
"txid": "c5ce66d638f1b8ca702dfb8f7d1da7a6707d9c6497212dc66829c99f69b28b9a",
"vout": 1,
"address": "tb1qrggdlvezgd4uy9mntz50mpmwd6l4vk9rm4ft3d",
"label": "",
"scriptPubKey": "00141a10dfb322436bc2177358a8fd876e6ebf5658a3",
"amount": 0.00100000,
"confirmations": 6,
"spendable": true,
"solvable": true,
"desc": "wpkh([3a46ecca/0'/0'/4']020d12775323bbdaf0cb6e9a2b44ae7a591ef5872364e80e363a93d283c10b9e4f)#kxjva7dw",
"safe": true
}
]

Nice! I need to retrieve the private key, as we know it’s mandatory to sign my transaction.

$ bitcoin-cli dumpprivkey tb1qrggdlvezgd4uy9mntz50mpmwd6l4vk9rm4ft3d
cPHTHs7ERe6jDYiitj9eLVswsX3RpeKMB19eXYjpLb4CkEHd7drq

Now, we are able to create an amazing message, for instance: corsocompleto.bitcoininaction.com.

Yep, we need to use hexadecimal!

$ printf "corsocompleto.bitcoininaction.com" | xxd -ps
636f72736f636f6d706c65746f2e626974636f696e696e616374696f6e2e636f6d

I have the necessary to create the transaction!

Using _help_ I can retrieve a lot of information about this method. I want to use it on **createrawtransaction**.

$ bitcoin-cli help createrawtransaction

The receiver is the faucet’s address, I give back bitcoins :).

The address is:

2NGZrVvZG92qGYqzTLjCAewvPZ7JE8S8VxE

Finally, I can build my transaction, in the data field I can put my hexadecimal message. Remember that it will create an operation code OP_RETURN as we discussed above.

#bitcoin #blockchain #what-is-bitcoin #blockchain-development #blockchain-use-cases #blockchain-developer #btc #bitcoin-spotlight

Abigail betty

Abigail betty

1624323600

How to Buy Bitcoins in 2021? (4 different methods reviewed). DO NOT MISS!!!

Here’s a quick guide for buying your first Bitcoin:
Step 1 – Get a Bitcoin wallet
Step 2 – Find your Bitcoin address
Step 3 – Go to Coinmama and choose the amount of Bitcoin to buy
Step 4 – Enter your Bitcoin address and payment information
That’s how to buy Bitcoins in a nutshell. For a detailed explanation watch the complete video, here’s what I’ll cover:

0:51 - Bitcoin wallets in a nutshell
1:47 - How many Bitcoins should you buy?
2:44 - Choosing a Bitcoin exchange
4:53 - Trading platforms vs. Brokers
6:20 - Registration + KYC
6:55 - Moving your Bitcoins from the exchange
7:44 - Bitcoin ATMs
8:31 - Buying from an individual
📺 The video in this post was made by 99Bitcoins
The origin of the article: https://www.youtube.com/watch?v=tuUO-Q4_b5c
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
⭐ ⭐ ⭐The project is of interest to the community. Join to Get free ‘GEEK coin’ (GEEKCASH coin)!
☞ **-----CLICK HERE-----**⭐ ⭐ ⭐
Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!

#bitcoin #blockchain #bitcoins #how to buy bitcoins in 2021 #buy bitcoins #how to buy bitcoins in 2021? (4 different methods reviewed)

What Is The Difference Between Blockchain And Bitcoin?

Did you know that blockchain and Bitcoin aren’t the same thing? If you’ve been using the terms interchangeably, you’re not alone; plenty of people do the same thing, probably because blockchain and Bitcoin are so closely related.

This is image title

What is the Difference Between Blockchain And Bitcoin?
If you’ve ever scratched your head wondering what on earth is the difference between the two, this article is for you.

To get in depth knowledge on Microsoft business intelligence, enrich your skills on Blockchain online training professionals

What is blockchain?

In super-simple terms, a blockchain is a computer file for storing data. Or, to put it in more technical jargon, it’s an open, distributed ledger (database), which means the data contained within the blockchain is distributed (duplicated) across many computers and is therefore decentralised.

This decentralisation is one of the things that makes blockchain so transformative. Unlike in a traditional, centralised database – where records are processed by one central administrator (say, a company or government) – the entire blockchain is transparent and data is verified by user consensus. Yet, despite this transparency, blockchains are incredibly secure. That’s because there’s no one central point of attack for hackers to target.

Decentralised. Distributed. This sounds a bit like Bitcoin…

You’re spot on! Blockchain is the technology that underpins Bitcoin and it was developed specifically for Bitcoin. So, Bitcoin was the first example of blockchain in action and without blockchain, there would be no Bitcoin. That’s why the two names are so often used interchangeably.

**But that doesn’t mean that blockchain and Bitcoin are the same thing. **

Bitcoin is a decentralised digital currency, or peer-to-peer electronic payment system, where users can anonymously transfer bitcoins without the interference of a third-party authority (like a bank or government). Bitcoin is just one example of a cryptocurrency, though; other cryptocurrency networks are also powered by blockchain technology. So although Bitcoin uses blockchain technology to trade digital currency, blockchain is more than just Bitcoin. Learn more from blockchain online course

Looking at the wider applications of blockchain

Because blockchain and Bitcoin are so inextricably linked, it took people a long time to realise that blockchain actually has much wider applications beyond cryptocurrency networks. In fact, blockchain’s potential is so great that many people (myself included) believe the technology will revolutionise the way we do business, just like the internet did before it.

Here are just a few examples of the wider applications of blockchain beyond Bitcoin and other cryptocurrencies:

Executing smart contracts. Thanks to Bitcoin, we already know that blockchain is great for facilitating digital transactions, but it can also be used for formalising digital relationships through smart contracts. With a smart contract, automated payments can be released once the contract terms have been fulfilled, which promises to save time and help to reduce discrepancies or solve disputes.
Maintaining a shared, transparent system of record. Blockchain is the ideal solution for maintaining a long-term, secure and transparent record of assets (land rights would be a good example) that all parties can access securely.

Auditing the supply chain. Blockchain allows users to trace the records of ownership for goods all the way back to the source. As an example of this, Diamond company De Beers has started to use blockchain to trace diamonds from the mine to the end customer. Anyone who wants to verify that their diamonds are free from conflict will have a transparent and complete record.

Providing proof of insurance. Nationwide insurance company is planning to use blockchain to provide proof-of-insurance information. The tool would help police officers, insurers and customers verify insurance coverage instantly, which should help to speed up the claims process.

I hope you reach to a conclusion about tools in BlockChain. You can learn more through Blockchain online training Hyderabad.

#blockchain online training #blockchain online course #blockchain training #blockchain course #online blockchain training #blockchain training online

Devin Pinto

1606217442

Blockchain Certification | Blockchain Training Course | Blockchain Council

In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors of the industry. It also has the ability to be one of the career-influencing innovations at the same time. We have seen an increasing inclination towards the certification of the Blockchain in recent years, and there are obvious reasons behind it. Blockchain has everything to offer, from good packages to its universal application and futuristic development. Let’s address the reasons why one should go for Blockchain certification.

5 advantages of certification by Blockchain:

1. Lucrative packages- Everyone who completes their education or upskills themselves wants to end up with a good bundle, not only is one assured of a good learning experience with Blockchain, but the packages are drool-worthy at the same time. A Blockchain developer’s average salary varies between $150,000 and $175,000 per annum. Comparatively, a software developer gets a $137,000 per year salary. For a Blockchain developer, the San Francisco Bay area provides the highest bundle, amounting to $162,288 per annum. There’s no point arguing that learning about Blockchain is a smart decision with such lucrative packages.

2. Growing industry- When you select any qualification course, it becomes important that you choose a growing segment or industry that promises potential in the future. You should anticipate all of these with Blockchain. The size of the blockchain market is expected to rise from USD 3.0 billion in 2020 to USD 39.7 billion by 2025. This will see an incredible 67.3 percent CAGR between 2020-2025. To help business processes, several businesses are outsourcing Blockchain technologies. This clearly demonstrates that there will be higher demand in the future for Blockchain developers and certified Blockchain professionals.

3. Universal application- One of the major reasons for the success of Blockchain is that it has a global application. It is not sector-specific. Blockchain usage cases are discovered by almost all market segments. In addition, other innovations such as AI, big data, data science and much more are also supported by Blockchain. It becomes easier to get into a suitable industry once you know about Blockchain.

**4. Work protection-**Surely you would like to invest in an ability that ensures job security. You had the same chance for Blockchain. Since this is the technology of the future, understanding that Blockchain can keep up with futuristic developments will help in a successful and safe job.

**5.**After a certain point of your professional life, you are expected to learn about new abilities that can help enhance your skills. Upskilling is paramount. Upskilling oneself has become the need for the hour, and choosing a path that holds a lot of potential for the future is the best way to do this. For all computer geeks and others who want to gain awareness of emerging technology, Blockchain is a good option.

Concluding thoughts- opting for Blockchain certification is a successful career move with all these advantages. You will be able to find yourself in a safe and secured work profile once you have all the knowledge and information. Link for Blockchain certification programme with the Blockchain Council.

#blockchain certificate #blockchain training #blockchain certification #blockchain developers #blockchain #blockchain council

What Is The Difference Between Blockchain And Bitcoin?

If you’ve ever scratched your head wondering what on earth is the difference between the two, this article is for you.

What is blockchain?

In super-simple terms, a blockchain is a computer file for storing data. Or, to put it in more technical jargon, it’s an open, distributed ledger (database), which means the data contained within the blockchain is distributed (duplicated) across many computers and is therefore decentralised.

This decentralisation is one of the things that makes blockchain so transformative. Unlike in a traditional, centralised database – where records are processed by one central administrator (say, a company or government) – the entire blockchain is transparent and data is verified by user consensus. Yet, despite this transparency, blockchains are incredibly secure. That’s because there’s no one central point of attack for hackers to target.
To get in depth knowledge on Microsoft business intelligence, enrich your skills on Blockchain online training professionals

Decentralised. Distributed. This sounds a bit like Bitcoin…

You’re spot on! Blockchain is the technology that underpins Bitcoin and it was developed specifically for Bitcoin. So, Bitcoin was the first example of blockchain in action and without blockchain, there would be no Bitcoin. That’s why the two names are so often used interchangeably.

But that doesn’t mean that blockchain and Bitcoin are the same thing.

Bitcoin is a decentralised digital currency, or peer-to-peer electronic payment system, where users can anonymously transfer bitcoins without the interference of a third-party authority (like a bank or government). Bitcoin is just one example of a cryptocurrency, though; other cryptocurrency networks are also powered by blockchain technology. So although Bitcoin uses blockchain technology to trade digital currency, blockchain is more than just Bitcoin.

Looking at the wider applications of blockchain

Because blockchain and Bitcoin are so inextricably linked, it took people a long time to realise that blockchain actually has much wider applications beyond cryptocurrency networks. In fact, blockchain’s potential is so great that many people (myself included) believe the technology will revolutionise the way we do business, just like the internet did before it.

Here are just a few examples of the wider applications of blockchain beyond Bitcoin and other cryptocurrencies:

  • Executing smart contracts. Thanks to Bitcoin, we already know that blockchain is great for facilitating digital transactions, but it can also be used for formalising digital relationships through smart contracts. With a smart contract, automated payments can be released once the contract terms have been fulfilled, which promises to save time and help to reduce discrepancies or solve disputes.
  • Maintaining a shared, transparent system of record. Blockchain is the ideal solution for maintaining a long-term, secure and transparent record of assets (land rights would be a good example) that all parties can access securely.
  • Auditing the supply chain. Blockchain allows users to trace the records of ownership for goods all the way back to the source. As an example of this, Diamond company De Beers has started to use blockchain to trace diamonds from the mine to the end customer. Anyone who wants to verify that their diamonds are free from conflict will have a transparent and complete record.
  • Providing proof of insurance. Nationwide insurance company is planning to use blockchain to provide proof-of-insurance information. The tool would help police officers, insurers and customers verify insurance coverage instantly, which should help to speed up the claims process.
    To get in-depth knowledge of this technology and to develop skills to make a great career in this regard one can opt for Blockchain online training Hyderabad.

#blockchain online training #blockchain online course #blockchain training #blockchain course #blockchain online training hyderabad #blockchain online training india