Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: chayskie04 on August 27, 2018, 04:31:19 PM
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We understand that as a beginner it might be difficult to differentiate between different cryptocurrencies so we will try to give you a brief summary of Ethereum in comparisson to Bitcoin and what sets them apart.
Bitcoin was the first cryptocurrency that was developed and it is the longest running most well-known digital currency. Vitalik Buterin, the founder of Ethereum, found that the bitcoin protocol was lacking in the sense that it did not give users the ability to program on top of the blockchain. As a result of this alot of developers would be required to create their own blockchain to meet their needs. In other words, Vitalik saw the demand for a general purpose blockchain that could be used as a decentralized application platform and created the whitepaper for the Ethereum platform.
Ethereum allows for the creation of smart-contracts which means you can program contracts with various complex conditions that are able to enforce themselves. As to the economic model of Bitcoin in comparisson to Ethereum, this differs in that Ethereum has a static blockreward that will not change over time in contrast to bitcoin of which the blockrewards halve every four years. There are also more technical differences between the two cryptocurrencies but the basic philosophy behind Ethereum is that it will allow for more modern applications to be coupled to the platform with more ease.
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Very good and very useful explanation. I am sure there are still many beginners who do not know the difference between bitcoin and ethereum. Maybe they know, bitcoin is the first digital currency to launch. While ethereum is an alternative type of coin.
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Bitcoin is the pioneer of all coins as it were introduced first and so is still the king of all coins. Ethereum came later on. Bitcoin runs is decentralized currency that works on blochchain technology. Ethereum on the hand uses decentralized application. For technical point of view ethereum is better but actually bitcoin is the ultimate boss.
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There are some basic differences that we can easily recognize:
- BTC is number 1, ETH is number 2 :)
- Bitcoin uses POW, while ETH is about to be transferred via POS;
- It is difficult to program an application based on Bitcoin, but very easy on Ethereum;
- BTC is oriented to become a means of payment & storage of assets, while ETH is a utility token on the Ethereum network;
- Bitcoin uses Lightning, and Ethereum uses Shardings & Plasma extension solution;
- BTC founder Satoshi Nakamoto is anonymous, and ETH founder Vitalik Buterin is famous.
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They are so much different, mate. BTC is a crypto coin which has been created by Satoshi as the top 1 coin in crypto space. While ETH is the token that is created by Vitalik Buterin in 2013. BTC has been older than ETH, and it is called by the king of crypto. While ETH is called by the queen of crypto.
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The Bitcoin and Ethereum networks are different with respect to their overall aims. Bitcoin was created as an alternative to national currencies. Ethereum was intended as a platform to programmatic contracts, and applications via its own currency.
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A simple and accessible explanation, therefore a plus in karma. Bitcoin and ethereum are fundamental cryptocurrencies, created in 2009 and 2015, respectively. They are decently different from each other, at the same time, as it were, complement each other with their different capabilities. On their basis, all other types of cryptocurrencies were developed and appeared.
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Bitcoin and Ethereum two the best Cryptocurrency in the world cryptocurrency market. Bitcoin is the first positioned cryptocurrency and Ethereum is the 2nd favourite cryptocurrency in the world cryptocurrency market. People called bitcoin as a king of cryptocurrency and Ethereum queen of cryptocurrency.
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BTC is the most popular crypto coins, called the king. Almost all people in the world know it as the best crypto coins ever. And bitcoin is created by a very mysterious person, called Satoshi. Till now, no one really knows who Satoshi is, whether he is a single person or a group of people. While ETH, we all know that Vitalik who has created the token. And ETH is in the second position after Bitcoin in coinmarketcap.
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BTC is a pioneer coin and its unique, legendary and most loved cryptocurrency while ethereum is next generation blockchain network known for smart contracts and tokenization both are the top and best coins in the market at the moment.
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Yeah you're right, bitcoin and ethereum is different. Bitcoin is the basic coin with idea for decentralized coin and used for payment while ethereum is used for decentralized app also known as smart contract. Still these two is the top of cryptocurrency.
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Bitcoin invented at 2009 and Ethereum invented in 2015. One is the first positioned cryptocurrency and Ethereum next at bitcoin.
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The irony is that Etherum is having the best Dapps out there while Bitcoin not.
Etherum smart contracts is more scalable than any other smart contract out there.
I loved ETH since i joined crypto more than BTC & still do but the fact remain that BTC is the king & always will be the best asset that havs the most value in this cryptosphere.
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You can't explain it any better than this. You did so perfectly, technically Ethereum is better than Bitcoin as it uses dApps and enables developers to create smart contracts easily on Ethereum blockchain. This is not possible with Bitcoin because that's not its purpose i agree. But due to the fact that bitcoin was the very first coin in crypto space, it remains the king of cryptocurrency
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BTC is the first coin in crypto space, while ETH was created several years next after BTC was created by Satoshi. I think people already know about the differences, BTC is much stronger than other coins, including ETH. But ETH is the strongest altcoins till now.
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Bitcoin is like a backbone of Crypto market , I didn't think without Bitcoin Crypto market is exixt.
Etherium is also oldest and valuable coin in Market , Etherium is really have a good coinmarketcap value.
both coins are really valuable in market .
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your write up is informative, explanative, that will make one that is not into cryptocurrency benefit from it. but to add to it Bitcoin lead to birth of blockchain asset, and any blockchain asset other than bitcoin are altcoin which ethereum is part of them and one the best altcoin.
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The bitcoin protocol lacks the sense that it does not provide users with programming capabilities on the blockchain. As a result, a lot of developers will be required to create their own blockchain to meet their needs. In other words, the general purpose blockchain could be used as a decentralized application platform and has created the whitepaper for the Ethereum platform. That is the difference between Bitcoin and ETH
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Even though they are different in that aspect still they are the same potential and successful coin who really stand out over thousands of altcoins in cryptocurrency ecosystem. Ethereum provide the missing part of Bitcoin that makes ETH popular and adopt by new even old coins now. It is blessing for Ethereum.
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Very good description. It will surely be helpful for the new comers. As the first cryptocurrency in the world, Bitcoin is the king of the crypto world. Among all altcoins, Ethereum is the leader of the crypro market. There are many other differences between them but both are cryptocurrencies and the leaders of of the crypto world.
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Bitcoin as the first cryptocurrency sets out as the lead always in the crypto world. Ethereum later introduced smart contracts that has built over a thousand tokens on its bloclchain.
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In my opinion, bitcoin is very suitable for long-term investment and ETH is very suitable for trading because it is one of the coins suitable for short-term investments.
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In my opinion, bitcoin is very suitable for long-term investment and ETH is very suitable for trading because it is one of the coins suitable for short-term investments.
No. Both coins are good for long term investment depends on what you preferred to do. Ethereum is the secondary coin after Bitcoin that reached $487 few days ago and now decline to $320. I guess now is the right time to buy more Ethereum and hold like Btc.