🔵Blockchain is a distributed ledger technology characterized by decentralization, immutability, and transparency. It ensures consensus among all nodes in the network for data addition through consensus mechanisms. Purpose: Blockchain provides a secure, transparent, and decentralized infrastructure for recording transactions or other data. Application scenarios: not limited to cryptocurrency, but also include supply chain management, data storage, identity verification, smart contracts, etc. Relationship with Bitcoin: Bitcoin is the first application of blockchain technology, and blockchain is the core technology supporting Bitcoin's operation.
🔵Bitcoin is a digital currency aimed at achieving peer-to-peer value transfer, decentralized, and does not rely on any central authority (such as banks). Features: decentralization, limited supply, blockchain-driven. Relationship with blockchain: Bitcoin is the first successful application of blockchain technology, with blockchain providing a distributed ledger to record all transactions. Relationship with Web3: Bitcoin is part of the Web3 ecosystem, but its functionality is more focused on value storage and payment.
🔵Web3 is a new form of decentralized internet based on blockchain technology, aiming to build a new type of internet where users have direct control over data, identity, and assets through blockchain, cryptocurrency, and decentralized protocols. Features: decentralization, user ownership, smart contracts, economic incentives. Relationship with blockchain: Blockchain is the technological foundation of Web3, and applications in Web3 (such as decentralized finance, NFTs) rely on the distributed ledger and smart contracts of blockchain. Relationship with Bitcoin: Bitcoin is part of the Web3 ecosystem, but the scope of Web3 is broader, with Bitcoin primarily focusing on the functionality of digital currency.
🔵The relationship among the three: Blockchain is the encryption technology, Bitcoin is a derivative asset of blockchain, and Web3 is the commercial form of blockchain. Analogy: Blockchain is 'electricity', providing basic energy; Bitcoin is the 'light bulb', the first successful application of electricity; Web3 is the 'smart grid', a more complex and extensive system based on electricity.
