Bitcoin is the first digital currency powered by blockchain which was launched in 2009. Run by a decentralized authority unlike government-issued currencies, Bitcoin offers lower transaction fees for its users. Over the years, both government and private bodies have come to the acceptance of the reality of digital currency. Digital currencies have been able to carve a niche for itself, coexisting alongside government-issued currency.
Ethereum, which is not just a platform but a programming language is one of the biggest most established decentralized platforms. The platform allows Smart Contracts and Distributed Applications (DApps) to be established and power without interruption, fraud, control or prying from a third party. Ethereum currency known as Ether is used as a digital currency exchange and can be used to run applications and can go as far as means of payment for work done. In the last three years, Ethereum has served as a platform to develop dAPPs and games
Bitcoin And Ethereum Both Good Investment
Generally, Bitcoin and Ethereum are different in purpose, Ethereum is cheaper and faster than Bitcoin. The currency is competing strongly with other cryptocurrencies in the market. Although the intent of both Bitcoin and Ethereum are different, they are both built on blockchain technology. Created as an alternative to government-issued currency, making it a means for payment for transactions and a store of value, Ethereum was created as a platform is enhance peer-to-peer (P2P) contracts and applications through its currency channel.
Bitcoin and Ethereum have a different functioning feature that can draw you in, both are similar yet they differ, choosing between Bitcoin and Ethereum is dependent on the kind of investment you want. Bitcoin and Ethereum are run by distributed ledgers and cryptography, turning programming language was used by Ethereum while stack-based language was used by Bitcoin. Ethereum operates on Ethash while Bitcoin runs a secure hash algorithm, SHA 256. Ethereum is very swift in terms of confirmation time, it takes seconds while Bitcoin takes minutes.
Bitcoin serves as a haven for people within underdeveloped countries as they feel safer to put to store their value in Bitcoin. Bitcoin is generally acknowledged as an asset, though it can also be recognized as an effective currency people can use as a medium of exchange for transactions. The downside of Bitcoin is the energy used to power each transaction, scalability, and unstable market value. Capped at 21 million, Bitcoin supply is bound to run out, and should this happen, miners will no longer get rewards instead they will be billed. The bill will be on the high side in turn drastically reducing the usage of the blockchain.
Bitcoin (BTC) Price Today – BTC / USD
As the saying goes different strokes for different folk, despite several fluctuations in the market value of both Bitcoin and Ethereum, each as their fan base. Both are good platforms worth investing in. According to some analysts, both Bitcoin and Ethereum will hold 25% of the whole cryptocurrency industry. The price prediction is that the market cap will be at $4.5 trillion in the year 2020.