Since the invention of Bitcoin, there has been a battle of the supremacy of some sort between Bitcoin and blockchain. While some folks are of the belief that Bitcoin will not be what it is today if not for blockchain technology, quite a number of cryptocurrency devotees are of the opinion that blockchain technology will be useless if it wasn’t made use of when implementing the Bitcoin protocol. Now, while both parties have come up with reasons to support their claims, this bone of contention remains inconclusive. To a lot of believers in blockchain technology, blockchain is the future of financial technology. However, some Bitcoin enthusiasts such as Johnathan Corgan believe that blockchain is just an ingredient in the invention of Bitcoin and will be nothing without digital currency.
Johnathan Corgan is the president of Corgan labs. He is also a machine learning researcher, a Bitcoin developer, a navy submarine vet, a pilot, and a cypher-punk. He is one of the many cryptocurrency devotees that believe that although blockchain provides the transparency that Bitcoin needs and is an important ingredient in the invention of the flagship cryptocurrency, it is not the most vital ingredient.
What does Johnathan Corgan hold Against Blockchain Technology
Just after the end of Consensus 2018 conference, Johnathan Corgan took to Twitter to air his view on the lack of attention given to Bitcoin. Although he was not the first person to air his displeasure towards the outcome of the Consensus 2018 conference, he gave an in-depth explanation of why he thinks that blockchain is nothing without Bitcoin. To him, rating blockchain ahead of Bitcoin can be likened to geeks being bashed publicly by popular kids that secretly try to look into their assignments.
What is Blockchain Technology
Blockchain technology can be likened to the internet. It is a technology that has the ability to store information that cannot be corrupted and is believed to promote transparency. With blockchain technology, the authenticity of any business related transactions can be ascertained. So far, there have been no cases of invalid transactions, unapproved exchanges and machine errors. The many qualities of blockchain technology have proven to be very inbstrumental to the overall success of Bitcoin.
It has also made some individuals consider it to be much bigger than Bitcoin which brought it to limelight. In as much as there are valid points that support the claim that the blockchain technology is more valuable than Bitcoin, there is still no conclusion as regards which is greater, blockchain or Bitcoin.