Blockchain technology is essentially a digital public ledger. Bitcoin is both a cryptocurrency and blockchain. The BTC blockchain was created specifically for trading finance without being able to copy it.

ETH blockchain technology was created in response to the BTC blockchain. The head creator of Ethereum blockchain, Vitalik Buterin argues that "BTC & Blockchain tech would benefit from other applications besides money and needed a more robust language for App development, lead to attaching real world assists like stock, property, to the blockchain." Basically BTC is the leader for blockchain tech but requires too much GPU power to add programs on; ETH is supposed to make blockchain tech more accessible.

 

 

For clarification, Blockchain technology has been talked about almost 20 years before bitcoin blockchain chain was created.

 

Blockchain technology was first outlined in 1991 by Stuart Haber and W. Scott Stornetta. However, the first real-world application of blockchain was in 2009 with the launch of Bitcoin: 

• 1991: Haber and Stornetta describe a cryptographically secured chain of blocks 

• 1998: Nick Szabo works on "bit gold", a decentralized digital currency 

• 2000: Stefan Konst publishes his theory of cryptographic secured chains 

• 2008: The developers behind Bitcoin, working under the pseudonym Satoshi Nakamoto, release a white paper establishing the model for a blockchain 

• 2009: Nakamoto implements the first blockchain as the public ledger for Bitcoin transactions 

 

I believe blockchain technology is harder for the average person to understand because it doesn’t have a company brand or face behind it; when you’re buying Microsoft Word, you understand that somewhere along the line Microsoft/Bill Gates is at the top. When you’re buying an iPhone, you understand originally that Steve Jobs was somewhere at the top leadership of the programs and product as well.

Bitcoin blockchain tech was specifically made not to have those companies, countries, or figure heads control it. Anonymous is their brand. 

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Why use blockchain technology?

 

Blockchain technology can be used for many reasons, including:

Reduced costs
Blockchain can reduce costs by automating manual tasks, streamlining transaction processing, and making reporting and auditing easier. 

Faster transactions
Blockchain can speed up transactions by allowing peer-to-peer cross-border transfers with digital currency. 

Improved security
Blockchain can help secure transaction information by using shared ledgers and two security keys for each transaction. 

Supply chain transparency
Blockchain can provide real-time visibility and tracking of products throughout the supply chain. 

Digital voting
Blockchain can be used for digital voting, and is transparent enough that regulators can see if changes are made to the network. 

Real estate
Blockchain can be used to record real estate transactions, making the process more secure and accessible. 

Contract management
Blockchain can help with contract management and auditing the origin of a product. 

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Blockchain is decentralized, which removes the need for middlemen in many processes.