What is the basic difference bitcoin and ethereum?

JooBra

full member

Activity: 1204

Merit: 162

Quote from: lumierre on September 05, 2021, 10:11:22 PM

One of the main differences between those two mainstream currencies is that Bitcoin has a limit of 21,000,000 coins, as opposed to unlimited Ethereum.
Also I think that bitcoin is more decentralized.
We see that Ethereum is changing all the time during updates. On the other hand, Bitcoin is in stagnation.

The difference is much more than that. What you said is true if you look from trading perspective but fundamentally ETH has so much more to give to people than BTC. But we are on verge on so many new stuff that ETH and BTC wont be able to keep up with it.

Godday

sr. member

Activity: 1610

Merit: 406

PredX - AI-Powered Prediction Market

Both have differences in many ways, cryptocurrencies have established bitcoin as the parent of all other coins and bitcoin can also stand alone without any connection to altcoins, bitcoin is also a store of value in crypto while ethereum is very dependent on the price of bitcoin, ethereum and bitcoin has the same value, it's just different levels in several ways, such as its use which is always made on the bounty platform as the main network, for me the difference between the two is very far, bitcoin is the parent coin and ethereum is one of the altcoins that is currently at the top level.

Rahman11

sr. member

Activity: 1428

Merit: 250

Ethereum is more versatile than Bitcoin, which is one of its most significant advantages. ... Ethereum also processes transactions faster than Bitcoin, and it's less energy-intensive. While Bitcoin uses a proof-of-work (PoW) mining protocol, Ethereum is moving to a proof-of-stake (PoS) network.

cryptoshade2015852

newbie

Activity: 1

Merit: 0

Ethereum is a ledger technology that companies are using to build new programs. Both Bitcoin and Ethereum operate on what is called “blockchain” technology, however Ethereum's is far more robust. Wink

Jolankaa

newbie

Activity: 28

Merit: 2

This article describes absolutely all the differences between Bitcoin and Ethereum. Just read https://blockster.com/blockdesk/780_bitcoin-vs-ethereum-what-039-s-the-difference

Melignya

newbie

Activity: 28

Merit: 1

Ethereum has a big commission, this is a major disadvantage for many but we actually c one side, Bitcoin provides more anonymous transactions and Ethereum is more flexible. There is a good article on Blockster called Bitcoin VS. Ethereum: a Brief History which is very detailed, I think many people will be interested in it, I will leave the link https://blockster.com/blockdesk/1217_bitcoin-vs-ethereum-a-brief-history

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

Quote from: fuguebtc on July 21, 2021, 10:21:50 AM

Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

This is really true, and I agree with your post as it states the clear difference between them.
However, in a bid to add, by understanding the difference between these two great coins, people will come to the understanding that both have different perspective towards this crypto space that is where Bitcoin has made the transaction between two parties to take place without any intermediary, Ethereum has succeeded in making it easy for more projects to have a good foundation for growth; but yet their end goals are the same which is to project the crypto space to the future where people will be able to achieve a lot which traditional systems didn't make possible.
Nevertheless, in my own opinion, even though Bitcoin and Ethereum are solving a great issue and/or limitations in this space and the world at large, Bitcoin is still seen, regarded and addressed as the best cryptocurrency.

Jolankaa

newbie

Activity: 28

Merit: 2

I read a perfect description of the difference on Blockster. https://blockster.com/blockdesk/780_bitcoin-vs-ethereum-what-039-s-the-difference

lumierre

full member

Activity: 862

Merit: 100

One of the main differences between those two mainstream currencies is that Bitcoin has a limit of 21,000,000 coins, as opposed to unlimited Ethereum.
Also I think that bitcoin is more decentralized.
We see that Ethereum is changing all the time during updates. On the other hand, Bitcoin is in stagnation.

adiebitsler

hero member

Activity: 1106

Merit: 509

Quote from: H1N1 on September 05, 2021, 08:52:09 AM

I don't think btc is the only peer to peer electronic money, ethereum and other altcoins are peer to peer money too.
The basic difference between Bitcoin and Ethereum is the smart contract.
Ethereum blockchain has smart contract that we can use to build many apps such as defi apps.

Now almost all coins already have peer to peer technology, it's just that the number of uses is different, so the one that is used the most will always be more famous and also be better than the others, even though the technology is almost the same.

H1N1

full member

Activity: 812

Merit: 100

I don't think btc is the only peer to peer electronic money, ethereum and other altcoins are peer to peer money too.
The basic difference between Bitcoin and Ethereum is the smart contract.
Ethereum blockchain has smart contract that we can use to build many apps such as defi apps.

avarnet

sr. member

Activity: 896

Merit: 250

Ethereum and BTC are the same thing: because they are digital currencies that are traded online and stored in different types of cryptocurrency addresses. Both tokens are decentralized, meaning they are not issued or regulated by a central bank or state financial services authority. but they use a distributed ledger technology known as blockchain. However, there are also many important differences between the two most popular cryptocurrencies by market cap

RbiggerG

full member

Activity: 302

Merit: 100

The Standard Protocol - Solving Inflation

Quote from: yhiaali3 on August 08, 2021, 02:02:51 PM

The question of who is better is not fair!! Both Bitcoin and Ethereum have some good features that make them superior to other coins and they also have some negatives, for example Bitcoin has the problem of block size and transaction delay in addition to the problem of electrical energy that we need for mining, but despite all that Bitcoin remains the coin The first popularity in the world and has the largest trading volume in the market in addition to being the real engine of all markets.
Ethereum mainly suffers from network congestion and high fees but also has many other important features and DAPP applications and with the move to Proof of Stake POS will solve the problems of congestion, delays and high fees and is the second currency in the market.
Conclusion I can say that with hundreds of coins appearing that outperform Bitcoin, but Bitcoin will remain the #1 best and most popular coin of all time.

While we are talking about the energy consumption and block size as a problem for Bitcoin, we shouldn't forget that with these features as I call them Bitcoin obviously stayed on top since its inception and is the most valuable network there is in the crypto world. The majority of investors sees it the same way or otherwise we would see coins with no energy consumption and no block size problems at the top of the list, but that is not the case. We must thoroughly consider what kind of long term implications certain aspects about the protocol really have. Energy consumption sounds negative at first glance, but is it really or is there also good things about it?

yhiaali3

legendary

Activity: 1848

Merit: 1982

Payment Gateway Allows Recurring Payments

The question of who is better is not fair!! Both Bitcoin and Ethereum have some good features that make them superior to other coins and they also have some negatives, for example Bitcoin has the problem of block size and transaction delay in addition to the problem of electrical energy that we need for mining, but despite all that Bitcoin remains the coin The first popularity in the world and has the largest trading volume in the market in addition to being the real engine of all markets.
Ethereum mainly suffers from network congestion and high fees but also has many other important features and DAPP applications and with the move to Proof of Stake POS will solve the problems of congestion, delays and high fees and is the second currency in the market.
Conclusion I can say that with hundreds of coins appearing that outperform Bitcoin, but Bitcoin will remain the #1 best and most popular coin of all time.

aemma

copper member

Activity: 966

Merit: 14

Thanks for the short write-up, it is actually filled with the necessary information one can grab as fast as possible. In addition, I would like to add that, Ethereum is the blockchain with the best smart contracts than others, and its DApps are growing more and more with each day that is to show more users and developers are finding it better than others.
Bitcoin on the other hand can be said to be the most decentralized blockchain than Ethereum, and this decentralization is most likely what lead to the huge trust people have for it, such that many people who want to invest in a big way with crypto always starts with Bitcoin, people who are planning for long term also starts with Bitcoin before considering others like Ethereum . However, both are the best cryptocurrencies out there and their growth and adoption can't be compared to others.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

but i expect lower gas fee so its can be used for small transaction like coffee shop or grocery. So it can be wide adoption and create a huge cashflow in the future.

It can be lower than the current gas fees when all of updates will be fully implemented but im still waiting whether there will be an adjustment to the block to increase the block size. This will be totally needed to increase the capacity of the transaction and then the ethereum users can receive or send with very small fees.
Retail store and merchant can start to use it as online payment system

hidingyou

member

Activity: 291

Merit: 13

Quote from: fuguebtc on July 21, 2021, 10:21:50 AM

Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

The difference between the two, was Bitcoin is the strongest in crypto market. It is the highest value and the King of all coins.
While Ethereum is the second for bitcoin and the greatest of all Altcoins which is transparent also for all tokens in every gas transaction.

sunsilk

hero member

Activity: 3038

Merit: 634

Quote from: ?? on ??

Quote from: sunsilk on July 23, 2021, 11:59:55 AM

For those type of transactions, the most ideal crypto for it is bitcoin. It's cheaper than before and with those coffee shops and other stores, they can accept bitcoin's lightning network.

That's surely are cheap fees for every transaction. There are some altcoins that are also good for it which offers free transactions like Nano. But it won't be stopped to see Ethereum being adopted to be used for those transactions.

Im never use lighting network, it should be something so techy to be used or just a simple click to do? Is it a second-layer network that need to be installed or something?

You don't have to be techy to use it. There are a lot of articles that teaches you how to use it and how fast it is for small transactions.

https://www.investopedia.com/terms/l/lightning-network.asp

What is Lightning Network and how it works

If that's not enough, search for videos that shows graphical explanation about it.

Qirtov

jr. member

Activity: 121

Merit: 1

I will try to add a little explanation about the basic differences between btc and eth. Firstly Ethereum uses smart contracts, you can use smart contacts for many more things than Bitcoin. second
The Ethereum blockchain was released in 2015. It is 6 years newer and further developed compared to the Bitcoin blockchain (released in 2009). third
The Ethereum blockchain is an advanced version of the Bitcoin blockchain so it can fix some issues and introduce new features like smart contracts. the latter
Ethereum transaction fees are cheaper and faster in seconds than Bitcoin transaction fees and time which is more expensive and takes minutes.

J1mb0

hero member

Activity: 983

Merit: 502

Quote from: fuguebtc on July 21, 2021, 10:21:50 AM

Many people frequently ask is bitcoin better or is ethereum better.

There is no exact answer to this question, Bitcoin and ETH were born to serve different purposes.
Bitcoin was born first and is the king of the market
ETH was born with the purpose of being the foundation currency and it is considered by everyone as the queen of the market.

Topic: What is the basic difference bitcoin and ethereum? (Read 384 times)