Blockchain 101: Episode 13 – How is Bitcoin different from QQ Coin?

Bitcoin is a decentralized digital asset, not controlled by any single entity.

Q Coin is issued by Tencent. It is closer to an electronic reward point, rather than a currency.

Q Coin needs to be issued by a centralized institution, Q Coin is widely accepted because of Tencent’s credibility and backing.

However, its utility is also limited to Tencent’s gaming and services, the value of Q Coin is completely dependent on people’s trust in Tencent.

Bitcoin is not issued by any central authority, yet it manages to achieve worldwide adoption.

This is due to Bitcoin’s innate ability to create trust, its issuance and circulation is recorded in the blockchain, and without relying on any central authority, it ensures that no one can tamper the ledger.