A blockchain network is a decentralized and public ledger or database that securely records transactions. In contrast to traditional centralized databases, where a single entity controls all the data, blockchain distributes information across a network of interconnected computers in a peer-to-peer fashion. Various blockchain networks serve different purposes; for instance, Bitcoin is designed for managing transactions of its native BTC token, while Ethereum supports diverse use cases and various cryptocurrencies such as ETH, USDC, and DAI.

The Bitcoin network is a decentralized and distributed system that facilitates the exchange of Bitcoin, a digital currency. The Bitcoin network allows secure and transparent transactions to be recorded on a public ledger. Unlike traditional currencies, Bitcoin is not controlled by any central authority; instead, it relies on a distributed network of nodes to validate and confirm transactions. Bitcoin transactions are secured using cryptographic techniques, ensuring the integrity and immutability of the blockchain.

Sock uses the Bitcoin network to facilitate bitcoin transactions for our customers. Bitcoin offers a reliable and secure platform for transferring value, and its widespread adoption makes it a popular choice for digital transactions.

No, blockchain networks operate independently, with assets confined to their respective networks. This means that bitcoins on the Bitcoin network cannot be transferred to another network, such as Ethereum or Arbitrum. Bitcoins can only be sent or received between addresses on the Bitcoin network.