I am unable to get the difference between
the wiki library
and blog site.
when to use a blog site and wiki library?
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As per my understanding both have specific meaning and purpose.
Blog template from SharePoint is to have blog functionality like
WordPress where a single/multiple author publish post/articles/news etc and categorized them in to different categories. Blog Viewers can view this article and can comments or like the articles. Blog can be used as team site,new sites, dairies, journal etc.. this is mainly used for opinion sharing... with blog template you get basic pages created like article listing page based on categories... and are usually display in chronological order.... perfect example is medium.com
Now coming to wiki library, wiki library are used to generate knowledge base, each wiki page itself serves single purpose like you can publish your organizations policies, procedures etc... this kind of content can change continuously... this is mainly used for knowledge sharing. perfect example is Wikipedia.
Hope this will give you idea on when to use when :)
The concept is basically the difference between Site Blog and Wiki Site. Both enable content approval. Permits are granted hierarchically from the sites, lists, folders, documents. At this point you should consider a blog basically are two lists: one exposes the entries, the other comments.
A Wiki site basically consists of three libraries: wiki pages, documents, and images.