Topic: What is the basic difference bitcoin and ethereum? - page 2. (Read 381 times)
In my opinion bitcoin is the first digital money made in cryptocurrency with a very limited amount of course having a very high value, while Ethereum is a platform that was developed to become a network for a project, besides that ETH is also a promising investment.
Bitcoin and Ethereum are a distributed public blockchain network, but their uses and capabilities are different. Bitcoin is a currency, and Ethereum is a symbol. Ether is for money, and Ethereum is for contracts.
Bitcoin is the value itself, and Ethereum is a computing platform that can provide all kinds of applications to run.
As I will re-state what Michael Saylor view this, Bitcoin is a digital property. It is a great store of value. As to Ethereum is the digital business entity that can exist within a digital property. Bitcoin secures the network where in Ethereum propagates the use of blockchain applications.
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.
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.
Overall Ethereum is very easy to use, this application cannot be controlled by anyone, thus allowing people to be an option in the future.
But Bitcoin has a more sophisticated system, even those who first managed to rank 1, its value is very tempting, even though it was created as an online payment system.
Regardless of the advantages and disadvantages of both, choice is the portion that is needed, if this year Bitcoin is more profitable then why do we use Ethereum, and vice versa, if Ethereum is more profitable it is impossible for bitcoin to be an option.
I think it's just a matter of need-matching, so both are the best choices, considering we are more likely to choose what we need at this time rather than just choosing it.
Yea its nicer now, 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.
When it comes to transactions on the Ethereum platform, I think it's pretty cheap now when compared to the fees in the past, but for fees on Bitcoin I myself have rarely used it so I can't give a conclusion now.
There is a huge difference is the supply, for bitcoin its completely fixed from the beginning while ethereum availability is still unlimited which is the reason why ethereum often faces scalability issues.ETH2.0 also going to end this unlimited supply and the mode of verification is going to be changed from PoW to PoS so these two are completely different chains with different utility purposes.
There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Agree, both are greats project on Crypto space currently, the only thing that needs to be improved for both projects are the transaction time and cost.
I've done several transactions for bitcoin and Ethereum and I'm surprised that those transactions didn't do much for the fee. A 2 sat per byte isn't a lot.
While for Ethereum it's 5-10 gas fee.
Yea its nicer now, 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.
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.
Many people frequently ask is bitcoin better or is ethereum better.
It's like asking who is better - the inventor or the innovator? I always feel that you cannot compare the successor with the founder/inventor because if the founder didn't existed, there was no place for a successor while if the successor doesn't exist, there is no room for improvement.I would blindly say that ETH is much better and has more use cases than BTC but that doesn't mean it's better than BTC because they are both trying to solve a problem in different ways.
From an investor's point of view, I still prefer BTC over Ethereum and any altcoin because the face value of BTC is tremendous.
However, if i'm not mistaken, they are working on building assets on top of BTC blockchain now.
Maybe even go as far as smart contracts.
Maybe even go as far as smart contracts.
I dont think its possible to building without Layer 2 like RSK network, did u means that? In RSK network i see Sovryn deployed on it and claim its on top of bitcoin.
Of course, each is very different, but I would say that Ethereum is far more flexible because of it's dApps. And more devs are into it obviously as they would have to create applications that will work hand in hand with the dApps. And there are competitions already for Ethereum but nevertheless they still on the top of the competition despite many great crypto competing against them. dApps still remains relevant.
Yeah, I agree with you. Ethereum was more flexible with more wider scalability, They have the an solid community with tons of dApps for prototype for different use case, One of them is DeFi that we can see before becoming the new things Beside that NFT and sometimes integrated with games too, It's have a lot potential i suppose since the Smart-Contract was really powerful. There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
Agree, both are greats project on Crypto space currently, the only thing that needs to be improved for both projects are the transaction time and cost.
I've done several transactions for bitcoin and Ethereum and I'm surprised that those transactions didn't do much for the fee. A 2 sat per byte isn't a lot.
While for Ethereum it's 5-10 gas fee.
Ethereum is programmable money but it can't scale fast enough. Side-chains like FTM and NEAR aurora are good options to scale Ethereum.
However, if i'm not mistaken, they are working on building assets on top of BTC blockchain now.
Maybe even go as far as smart contracts.
Maybe even go as far as smart contracts.
Both BTC and ETH are giants in the cryptocurrency field. They have similarities and differences. Ethereum serves as a platform that uses its own currency to promote contracts and applications. The purpose of Bitcoin is to serve as a global decentralized financial system, a medium for payment transactions, and the ability to become a store of digital value.
...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.
The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools. Yeah, I see what you mean. We are assuming that since Dapp is decentralized it can not be intruded or hacked but no the reality is so different based on many instances we already seen and even experienced for the past years. Well, this can be categorized under the "you can't have your cake and eat it too" thing. Anyway, am still hoping that there comes a time when we can really witness Ethereum and even Bitcoin for that matter fulfill their full potential.
The difference between bitcoin and ethereum is that bitcoin tops all currencies in crypto. The currency of bitcoin is known as bitcoin and was targeted as the only alternative currency without any intermediaries like the central bank this allows anonymous transactions directly between the buyer and the seller ethereum The coin of ethereum the king of altcoin is known as ether. Although transactions are similar to bitcoin anonymously and digitally each transaction may contain much more information than a bitcoin transaction.
As a pioneer in the crypto sphere, bitcoin has many advantages but also weaknesses. This project has been abandoned by Satoshi Nakamoto thou' I believe there are still many things that can be done. It becomes an obelisk for the crypto community and still has become the standard until now. However, Ethereum is still developing each day to become more sophisticated. It grows with technology and innovation like DeFi etc. Vitalik seems working hard for his baby. I won't be surprised if ethereum will be more superior in the near future.
The two are not comparable.
Bitcoin established the status of cryptocurrency and is the king of cryptocurrency.
Ethereum is the king of altcoin and focuses on application.
Maybe the OP is comparing as far as the decentralization aspect is concern.
Of course, each is very different, but I would say that Ethereum is far more flexible because of it's dApps. And more devs are into it obviously as they would have to create applications that will work hand in hand with the dApps. And there are competitions already for Ethereum but nevertheless they still on the top of the competition despite many great crypto competing against them. dApps still remains relevant.
There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.
Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
It's normal for people to compare this two top coins and decide later on which they'll invest their money.Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.
They both have different network and different purpose, it's more of a store value for Bitcoin and the ETH network are widely used to create more projects under its network.
ETH and BTC are grows a lot over the past years, I'd appreciate how they lead this market into a good opportunity for everybody. I'm sure most of us here are holding this top two coins, that's one of the best decision we've ever made.
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