In the wake of the growth of Bitcoin and other cryptocurrencies, blockchain has made virtually daily headlines. Blockchain, however, is not as well known as bitcoin. In the same sentence, terms like bitcoin system and blockchain raise more questions than they answer. This is before a trader adds Bitcoin to the equation to further confuse matters. Blockchain technology and bitcoin are also popular topics of discussion. Many people might think that way, and it's easy to understand why. Let's sift through the jargon and uncover the truth. In recent years, these terms have been used interchangeably, but they must be distinguished. It is good news that this technology is relatively easy to understand despite cryptic financial and FinTech terminology such as DLT.

Bitcoin differs from other cryptocurrencies mainly in its purpose, design, and market position. It was the first cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. Bitcoin’s main goal is to serve as a decentralized digital currency and store of value, similar to digital gold. Most other cryptocurrencies, like Ethereum, Solana, or Cardano, go beyond this by supporting smart contracts, decentralized apps, or specific blockchain use cases. Bitcoin’s blockchain is relatively simple and highly secure but less flexible, while newer cryptocurrencies often trade some security for greater speed and functionality. Bitcoin also has the largest market capitalization and widest adoption, making it the most recognized and trusted name in the crypto space.