Question

Explain the similarities and differences of the "use case" and "Satoshi's white paper" in depth.

Answer 1

White paper is a term used for a nine page document which gave birth to the very famous Bitcoin . It basically describes all the important functionalities of bitcoin. It was introduced by SATOSHI NAKAMOTO who mined the genesis block. White paper talks about a Peer to peer payment system without any intermediary or human interaction & usage of mathematics , statistics and algorithms. All the transactions will not be stored in central data base or accounting ledger known as blocks but will be stored among the various participants or nodes. Use case is basically a syestematic set of instructions which an individual uses to run a particular system or to achieve the desired output. differences include presence of human intervention i.e for use case human touch is required whereas bitcoin is made with the purpose of avoiding any human intervention. Whitepaper eliminates huge transaction cost, fraud by making everything digital whereas for use case the system can be tampered with and fraud can take place. Transactions in bitcoin which are recorded will be available publically where as for use case the user could indulge in secrecy. Similarity includes both require an internet network, technology. Both require complex understanding & personnel may not be well trained. Immense growth opportunity & discovery still exists for both.