Blockchain Technology :The new invention of digital world

Now, most of the people confused amidst BLOCKCHAIN or BITCOIN. To understand blockchain, you perceive to know about bitcoin first.
WHAT IS BITCOIN?
Bitcoin is the world's first cryptocurrency or a digital currency that allow to you send money from one person to another without involving a third party such as a bank. Bitcoin transactions are stored and transferred using a distributed ledger on a p2p (peer-to-peer) network that is open or public. The blockchain is the base technology that maintains the Bitcoin transaction ledger.
Now, WHAT IS P2P?
P2P stands for Peer to Peer. In a P2P network, the "peers" are computer systems which are connected to each other via the Internet. Files can be shared directly between systems on the network without the need of any central server.

Finally, WHAT IS BLOCKCHAIN?

Blockchain technology is challenging the world using math and cryptocurrency. It provides an open decentralized database for every transaction involved in all business transactions like money, goods, property,work or even votes.
PUBLIC vs PRIVATE BLOCKCHAIN

The PUBLIC blockchain is open for everybody and permissionless. Anyone can download and view the entire history of a blockchain, Store information, Send and receive money and create smart contracts inside the blockchain .Example of public blockchain is Ethereum, Blockstream and

Factom.

The PRIVATE Blockchains are the total opposite to the public blockchain .The network requires an invitation and must be approved by the network starter.Example of private blockchain is Eris Industries, Blockstack, MultiChain and Chain Inc.

HOW BLOCKCHAIN WORKS?

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BENEFITS OF BLOCKCHAIN TECHNOLOGY
1. Surpassing transparency
2. Heightened security
3. Reduced transaction costs
4. Decentralization
5. Improved traceability
6. User-controlled networks
7. Increased efficiency and speed
8. Faster transaction settlements