Bitcoin Vs Ethereum

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  • Today’s Bitcoin Price

    1 BTC
    $45088

start Bitcoin mining
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  • Today’s Ethereum Price

    1 Ethereum
    $3416.43

start Ethereum mining

Bitcoin

Invented seven years back, Bitcoin is the first cryptocurrency introduced by a pseudonym Satoshi Nakamoto that charges low transaction fees as compared to other traditional payment mechanisms. The digital currency has no control of government and financial authority on it, unlike fiat currencies. As Bitcoin is a virtual currency, so balances are associated with private and public keys. The acceptance of this digital currency has increased to a great extent among government bodies and regulators. Though, this is a not a recognized payment medium, Bitcoin has managed a position and coexist in financial system even after being debated and scrutinized.

Ethereum

Invented seven years back, Bitcoin is the first cryptocurrency introduced by a pseudonym Satoshi Nakamoto that charges low transaction fees as compared to other traditional payment mechanisms. The digital currency has no control of government and financial authority on it, unlike fiat currencies. As Bitcoin is a virtual currency, so balances are associated with private and public keys. The acceptance of this digital currency has increased to a great extent among government bodies and regulators. Though, this is a not a recognized payment medium, Bitcoin has managed a position and coexist in financial system even after being debated and scrutinized.

Differences

Bitcoin and Ethereum, both the cryptocurrencies work on the principle of blockchain technology; however they both differ technically. For instance, Ethereum programming language is complete whereas stack based language is used in Bitcoin. The second factor is the average block time, as Ethereum average block time is in seconds and Bitcoin takes around 10 minutes. In addition, basic building of both the cryptocurrencies is different. Bitcoin uses SHA-256 algorithm and Ethereum makes use of Ethash.

Generally, Ethereum and Bitcoin differs from each other in different ways. Bitcoin work as an alternative to fiat currency and becoming an online payment medium and store of value. When talking about Ethereum, it is developed in order to facilitate applications via currency value and peer-to-peer contracts. As Ether and Bitcoin, both are cryptocurrencies, the main purpose of Ethereum is to not only work as payment alternative, but also to monetize and facilitate the Ethereum work to enable developers in order to build and run ?Apps (Distributed Applications).