Why ETH transaction is cheap and fast - page 3.

drogas

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Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

Just overall has better tech behind it I think.

This is why I believe that ETH will eventually surpass BTC as the number one coin

badykvik

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I think some of the reasons why transaction is cheaper in ethereum than bitcoin is because bitcoin requires more powerful equipment to mine it and the transaction is expensive and slow while it is faster for etherem because there is more space on the network and it is easy to mine. These two coin are different and thus have different system functions and algorithm and they both have different advantages.

kryptqnick

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Quote from: liuqi on May 27, 2018, 12:30:04 PM

Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

Bitcoin technology is older and costlier transaction. But Ethereum is easy mine and low transaction because ETH concept is used in most of the project so other coins also depends on ETH platform. Automatically Ethereum is popular in Crypto market and transaction fees is depends on mining capability of the coin.

That might be true, but currently the bitcoin's transactions are pretty cheap and fast. Today I payed 10 cents for a priority transaction which was performed in about 10 minutes! Yes, eth is still cheaper and faster, but in these hard times I trust bitcoin more, as mining eth is totally unprofitable and the platform is too buggy to be considered reliable. I don't understand why people keep forgetting all those eth coins that were lost simply due to bad programming.
However, eth is mined a lot easier. If my calculations are correct, every minute there appear eth worth $169.8k and btc worth only $9.377k.

hcoin01

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The money transfer in the crypto money world is cheap thanks to the Blockchain system.
With the Blockchain system you can transfer money quickly, cheaply and easily.
The system is so good thanks to the blocks created on the network.

bontkoli01

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Actually, it depends on the algorithm and the blockchain technology. Since both are easy in crypto, costs are preferably low as well.

CrimsonGT

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Etherium system is far more better and faster than bitcoin blockchain. The other part of its attractiveness is that etherium will be always cheaper than bitcoin and has high liquidity, hope it will last forever.

poodle63

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Quote from: fernandoelis1 on May 27, 2018, 12:18:36 PM

Ethereum has algoritm more easy to mining

It doesn't matter and the only reason because the block size of ethereum network is more bigger compared with bitcoin and ethereum has fast block than bitcoin. it has a different spesification.
Algorithm doesn't matter a lot at this case and you must understand about that.

mega sylviku

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Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

it might happen due to the concept of the founder of ethereum itself. how they can create coin which can be acceptable and frequently used by many people. moreover, ethereum appeared after bitcoin, it can adopt from bitcoin by determining the strength and the weakness of bitcoin in terms of transaction. from the weakness, the team can learn to create it better.

Olatunjex

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Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

Let me ask, did you send or have transaction when ethereum was $1400 last year, if you did you will notice around that time the gas price and gas limit of ethereum transaction must be increase before you could send out transaction.
I remembered when bitcoin was 700$ before the bullrun the transaction fee was minimal but when bitcoin value shoot up the fee also increased
But as far as why it is faster than bitcoin i think ethereum smart contract was an improvement to bitcoin.

Crypto Chips

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Cryptocurrency is Dilema

compare to bitcoin eth is more fast and cheap because ethereum dev is has taken experience through what happened to bitcoin

rxkinglampung

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it can be caused because ethereum has a lot of investors, the number of coins that spread large enough so that the possibility of transaction is very large too. And then at this time many projects once a project based on ethereum blockchain, so that opens the possibility of transactions using ethereum or the sale and purchase of ethereum is greater.

yura888

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Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

I think it's all that has been a lot of time between creating a bitcoin and etherium. And the ETH was made much more technologically. Who knows, maybe EOS will be even cheaper and faster, as it is even more recent technology

Devanomrz

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The block of ethereum is nore lights than bitcoin
It makes ethereum are more easy to mining
And make the block confirmation run so fast

krinerr

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Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

ETH is much better adapted to use than bitcoin, really newer technology than in BTC .

marmeladko

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We can't compare ETH and BTC network, so we can't do the same with transaction fees. Also you should pay attention on transactions amount and time between blocks.

bryancowart69

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There can be many reasons for this. I believe this is on the grounds that there's a noteworthy contrast between the two, they have distinctive frameworks and favorable circumstances, they have altogether different squares possibly that is influencing, yet that is only my theory, I don't comprehend why they are so unique.

singpolyma

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Honestly, I'm not strong in the technical characteristics of coins, but I think that the Ethereum is the strongest coin in terms of characteristics. The thing is in the developed platform.

samiraetn

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Bitcoin is old in the market. Ethereum arrived in the market just a few days ago. So, ethereum has better technology for smoother and faster transaction.

sergio-faucetbitcoin

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Ethereum transactions are cheap and fast only if you compare them to Bitcoin. But if you look at other cryptocurrencies, you can find many with cheaper and faster transactions, like Komodo or Stellar for example.

TastyChillySauce00

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Quote from: Ziaderi33 on May 29, 2018, 02:20:07 AM

Quote from: rosstiller on May 27, 2018, 12:05:57 PM

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

In my opinion, bitcoin technology is out of date, as is ethereum, between bitcoin and ethereum, fast transactions are ethereum, but, new coins now have good technology, beating bitcoin and ethereum

How about you try to use bitcoin's lightning network and Im pretty sure that you will be surprised how cheap it will become and how fast the confirmation will arive, the bitcoin's transaction can be even cheaper than bitcoin only if the people only use as small fee as they can but in reality people want their transaction to be confirmed as fast as possible, resulting in an increase of transaction fee massly which therefore affecting the blockchain as a whole.

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