Wait, what and why Blockchain ? 🤔

#blockchain #tutorial #beginners #devjournal

Table Of Content

Why should one care about blockchain, crypto, bitcoin etc. ?
What is Blockchain ?
What is Bitcoin ?
Is Bitcoin and Blockchain are same ?
Ethereum : A programmable Blockchain
Bitcoin vs Ethereum
Writer's Support ❤️

Why should one care about blockchain, crypto, bitcoin etc. ?

Okay, before you stop reading the article, quickly check below the two graphs pinned and imagine if you become an Ethereum Blockchain Developer now then how much you be earning in 2025 🤩🔥

The above image shows how massively the world is investing in cryptocurrencies (Bitcoin, Ethereum, DogeCoin, etc.). The research done by statista.com clearly depicts that in 2021, 32.5 Billion US Dollars were invested in cryptocurrencies 🤯.

And I will not be exaggerating if I say it's just the beginning 🤔. Let me present you with another graph to prove this.

Looking at the comparison above, remember the times (1983 - if you are old enough 😶) when the internet was a big buzzing word around. A lot of rumors and grapevine surrounding the whole world, and then see today in 2022, we can live without food the whole day but without the internet 🤔... no chance. The same goes with blockchain, it's gaining popularity much faster than the internet. Hence anyone investing their time in learning blockchain might create new Google or Microsoft in 2030 or earlier 🤔.

What is Blockchain ?

The simplest definition of blockchain suggests that it is a decentralized public ledger that helps in recording all transactions throughout multiple computers. One of the biggest highlights of blockchain technology is that the network does not have any central point.

Simply put together it is a much more secure database that is not centralized to any one authority but is distributed in peer-to-peer nodes(Computer systems).
For example, all your personal details are centralized in the bank's database. Suppose your bank compromised its security then you and thousands of clients become fragile for the spammers.
But in blockchain, your data is decentralized that is not present in the bank's database in one place rather it is distributed over a network which is completely immutable and hence almost impossible to attack.

What is Bitcoin ? Is Bitcoin and Blockchain are same ?

Note: Bitcoin and blockchain are not the same.

I often listen to the analogy that blockchain and bitcoin are the same but it is not true.

The concept of a blockchain was first fully actualized in Satoshi Nakamoto's 🥷 Bitcoin Whitepaper, the underlying component technologies draw from years of research across cryptography, computing, and economics.
Hence, Bitcoin is a product(cryptocurrency) of blockchain similar as Ether(for Ethereum), Dogecoin etc. .

Ethereum : A programmable Blockchain

Ethereum (Ether) is the second most expensive and valuable cryptocurrency besides Bitcoin.

That's it just another cryptocurrency 🤷 ... No Ethereum is much more powerful.

EVM - Ethereum Virtual Machine is often referred to as a world computer for decentralized applications (dApps).
Ethereum is a platform on which anyone can build decentralized applications, where every program and action is universally accessible and verifiable because everything happens on the global Ethereum blockchain (mainnet).
The feature of Ethereum that makes it so extensible is that it is a programmable blockchain. It is similar to a programmable distributed ledger, where everyone agrees to run the same applications with the same data.
The main Ethereum blockchain is permissionless, meaning anyone can join the network.