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Bitcoin Vs Ethereum


People get to know and attract towards cryptocurrencies. It seems to be as ‘Tipping Point’ as institutions come on board. Thanks to large institutional investment and growing regulatory groundwork. Governments and Financial institutions are getting approval as cryptocurrency as other alternative for international trade. U.S. Securities Exchange Commission approves the First Full Securities Registration for a company issuing Crypto-tokens. This approval marks the first instance in which the SEC has cleared a full registration statement for a public offering of crypto-tokens. Citibank said that Bitcoin could “become the currency of choice for international trade.




As of January 2021, there are more than 4k cryptocurrencies in the world. Bitcoin is the first and most popular digital or cryptocurrency in the world. Ethereum is a decentralized, open-source blockchain featuring smart contract functionality. Demand for Bitcoin exists across Goldman Sachs' wealth management clientele. Ether is the native cryptocurrency of the platform. It is the second-largest cryptocurrency by market capitalization, after Bitcoin. Ether is the native cryptocurrency of Ethereum blockchain. Both Bitcoin (BTC) and Ethereum (ETH) have been top two digital currencies by market cap since many years. Though there are similarities between two, they have some differences as well. It’s nothing but to compare Apples to Oranges.



Origin

Bitcoin was launched in 2009 when Satoshi Nakamoto published the white-paper. No funding was raised at that time. Miners who did mine for Bitcoin network get to receive first Bitcoins.

Ethereum was founded in 2013 by Vitalik Buterin followed by ICO in 2014. Pre-mined quality of Ethereum was distributed to investors.

Scripting Language

Bitcoin’s scripting language is simple with robust code but less vulnerable to bugs. It can support simple smart contracts.

Ethereum’s scripting language has more wide range of bugs and harder to find the audit. It is meant to be Smart Contracts/dApps platform.

Monetary Policy

The monetary policy of Bitcoin is fixed and non-inflationary. Inflation rate of Bitcoin’s supply is hard-coded in the protocol. Each four years the rate is cut in half.

No fixed maximum supply for Ether. It has no maximum cap set in stone. Ethereum produces a block for every 15 seconds.

Consensus Algorithm

Proof of Work (PoW) algorithm for Bitcoin is SHA256. Proof of Work (PoW) algorithm for Ethereum is ETHASH.

Fees

Bitcoin transaction fees are optional where as you must provide some amount of Ether in Ethereum.

Time & Size

10 minutes average amount of time it takes to add a block to blockchain in Bitcoin. In Ethereum, it takes just about 15 seconds to add new block to blockchain. The block size is 628.286 kilobytes for Bitcoin and 25.134 kilobytes for Ethereum.

There are pros and cons to come to conclusion which one is better as per their requirements. Bitcoin works better in Peer-to-Peer (P2P) network whereas Ethereum preferable to create and build distributed applications and smart contracts.

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