Bitcoin and Ethereum (ETH) are interesting in several ways. They are the two top applications of blockchain technology. They are the two most valuable cryptocurrencies measured by market capitalization and the most talked about by netizens. So, of course, they would have to be discussed.
Ethereum is a decentralized network, whereas Bitcoin is digital gold. These systems are powered and protected by a decentralized network of miners. The miners are compensated for validating transactions on the network.
When you understand the distinctions between Bitcoin and Ethereum, you can better understand the future of the digital age of finance and the internet. Blockchain, Bitcoin, and Ethereum are concepts that don't need to be grasped entirely to realize we are at a watershed moment in history. Let's see below how Bitcoin (BTC) compares to the Ethereum (ETH) network:
● As the first cryptocurrency, Bitcoin has been around since 2009 and is still in use today. Ethereum, which deployed in 2015, is a much more recent development.
● Bitcoin was built to provide a way for people to transfer value from one person to another without a central bank.
● Ethereum (20tps) settles transactions five times faster than Bitcoin(4.6tps).
● A smart contract is possible on the Ethereum network, but data attached to Bitcoin network transactions are typically used to keep track of things like transaction logs.
● Although Ether may be used as digital money, just as BTC, it is not its primary goal. The Ethereum platform was mainly created to make Ethereum smart contracts and decentralized applications (DApps) monetizable.
● BTC's market cap as October is about 1 trillion USD, and ETH's is 426 billion USD
If you're excited to own some BTC or ETH, these are the top five crypto exchanges you can acquire some cryptos:
● Binance
● Coinbase
● FTX
● KuCoin
● Kraken