Attributes of bitcoin and blockchain

Both bitcoin and blockchains have the following similar attributes:

  • Blockchain is the technology behind bitcoin. It works like a database for all bitcoin transactions, and it keeps all records of bitcoin transactions since the very first transaction. The initial and most widely known application of blockchain technology was the public ledger of transactions for bitcoin. However, digital currencies are not the only use for blockchain technology.
  • Blockchain is a no-trust-based system, which can be used to conduct all kinds of transactions, such as digital contract signing. blockchain technology can be used to create a permanent public transparent ledger system for compiling data on sales, storing rights data by authenticating copyright registration, and so on.
There is even a digital nation founded on blockchain technology, called Bitnation.
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