There are several common misconceptions between people, such as Bitcoin, crypto money, and Blockchain. You can clarify some of these here:
1- Blockchain = Bitcoin
Bitcoin is mixed with Blockchain because it is more popular than the underlying technology. Blockchain is a technology that enables transactions between peers to be stored in a distributed manner across the network. Bitcoin is a transferable crypto paradise between two people without going through a third vehicle like a bank.
2- Blockchain’s only application is crypto paradise
Blockchain and crypto are like chocolates with money nuts. Together they make a splash, but at the same time they do great work on their own. There is only one usage area for Blockchain, like crypto money. On the contrary, it can be used in different forms in all sectors.
3. Activities in Blockchain are not open to the public
One of the common misinformation in Blockchain technology is not open to the public. Most of the activities in Blockchain can be followed very much in contrast to popular belief. In addition, there is a secret secret for Blockchain and a dark criminology about their activities.
4- Crypto operations are anonymous
Many people are under the assumption that all Bitcoins and crypto operations are anonymous. Bitcoin is a public open-source directory that keeps track of how much has been sent from one address to another. Many governments are in contact with the big stock exchanges in order to make the owner of the address open. Besides, it is known that the American National Security Agency (NSA) can access the identity of Bitcoin users worldwide.
5- Blockchain will change everything about commercial transactions
Blockchain is often positioned as a technology that can change the way businesses log and manage their business. For security reasons, it is often useful if the transaction records need to be verified securely and not altered. Otherwise, the use cases are limited.
6- Crypto money is volatile, so Blockchain should not be reliable
There is a widespread belief that associating the volatility of crypto money with the credibility of Blockchain technology. Blockchain has many applications beyond crypto money, and probably a game changer in the long run.
7- Crypto money is the best option for guilty
It is true that anemia and anonymity are particularly good features for criminals, but they are also good features for law-abiding citizens in an economically and politically unstable environment. It is probably the best place to keep your money if you are willing to pay your money in local banks due to corruption or if your country is unstable. However, when we look at the research done, crypto money is under 1 percent less than everything else, such as money, used by criminals.
8- Crypto money and Blockchain only for technology and finance people
The ordinary consumer has little knowledge of Blockchain and crypto money and therefore thinks it is only for finance people. However, crypto money is a technology that has the potential to affect the future of ordinary people in Blockchain. For this reason, it directly concerns ordinary people.
Bitcoin is a chain of happiness
Bitcoin, crypto money, and Blockchain are not the same kind of people who are unfamiliar with the concepts.
Bitcoin is not connected to a central authority. Bitcoin does not pay back its investors. Bitcoin does not require a steady stream of money to maintain the system.
Bitcoin is a real innovation in computer units and solves a problem known as Byzantine generals.