Did you know that there are more than 250,000 confirmed transactions of Bitcoin daily?
Bitcoin and Ethereum are two of the most talked-about cryptocurrencies right now.
If you’re like most people, you’ve heard of Bitcoin but don’t know what it is. You’ve also heard of Ethereum, but you’re not sure if it’s better than Bitcoin or not.
But don’t worry. Keep reading because, in this bitcoin vs Ethereum
article, we’ll compare Bitcoin and Ethereum to help you decide which one is right for you. We’ll cover everything from their history to their features to help make your decision easier.
Cost
The cost of Bitcoin and Ethereum are always fluctuating. The value of a single Bitcoin peaked at around $200 in early 2018, while Ethereum hovered around the $20 mark. However, by late 2018, both prices had dropped significantly.
Bitcoin fell to around $6,000 per coin, while Ethereum plummeted to around $100. The cost of these cryptocurrencies is highly volatile and can change rapidly.
As a result, investors must be cautious when investing in either Bitcoin or Ethereum. But, if you want to buy Ethereum or purchase bitcoin, you can find the best crypto exchange here.
Use Cases
Bitcoin and Ethereum are both decentralized digital currencies, but they have different uses. Bitcoin was designed as a digital currency, while Ethereum was created as a platform for decentralized applications.
Bitcoin can be used to purchase goods and services, or traded on exchanges for other currencies. Ethereum, on the other hand, is used to fuel the network of dapps built on its platform.
Dapps are often compared to apps built on traditional centralized platforms like iOS or Android. However, because dapps are decentralized, they are not controlled by any single entity.
This enables apps to offer some advantages over traditional apps, such as greater security and transparency.
While both Bitcoin and Ethereum have their unique use cases, they are both important players in the world of cryptocurrencies.
Mining Difficulty
The difficulty of mining for a particular cryptocurrency depends on how many people are trying to mine it at any given time. The more people that are mining, the higher the difficulty.
As a result, Ethereum’s mining difficulty is much lower than bitcoin’s, meaning that it’s easier to mine for ether. This relative ease of mining is one of the main reasons why Ethereum has become so popular in recent years.
Block Time
One of the key differences between bitcoin and Ethereum is their respective block times. Bitcoin’s block time is ten minutes, while Ethereum’s is just twelve seconds.
This may not seem like a big difference, but it can have a significant effect on the speed of transactions. With Ethereum, transactions are confirmed much more quickly, which is beneficial for businesses that need to move funds around quickly.
Scalability
Ethereum’s scalability is much better than bitcoin’s, due to its use of sharding. This means that more transactions can be processed on the Ethereum network without running into scalability issues.
Bitcoin vs Ethereum: Which One Wins?
Both bitcoin vs Ethereum have their own strengths and weaknesses. Ultimately, it’s up to you to decide which cryptocurrency is right for you. Do your own research and invest in the one that you believe has the most potential.
Want to learn more about how to purchase cryptocurrency? Check out our blog for more articles like this.
