If you are reading our cryptocurrency news and analyses, you probably know that Bitcoin and Ethereum are the biggest coins out there. Both of them have made a reputation over the years, attracting tons of investors to put their money and earn on their investments. However, the “BTC Vs ETH” dilemma is still on for many users – and we are listing all the key differences between these two cryptocurrencies today.
First Of All, BTC Vs ETH Transactions
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, both of these differ technically in many ways. The transactions on the ETH network, for instance, may contain executable code, while the data affixed to the Bitcoin network transactions are generally only for keeping notes.
The BTC Vs ETH Block Time
Another thing worth mentioning is block time. This is basically the time in which a transaction is confirmed. On Ethereum, one transaction is confirmed in seconds, while on Bitcoin it is done in minutes. This gives ETH a major advantage because of the algorithm that it runs on.
Their Main Aims And Purposes
The BTC vs ETH networks are different with respect to their main targets. For instance, Bitcoin was created as an alternative to fiat currencies and thus aspires to be a medium of exchange and a store of value. Ethereum, on the other hand, was intended as a platform to facilitate immutable and programmatic contracts and applications via its own currency.
The Interesting Part
Many of you following our ETH news don’t know that Ethereum is another use-case for a blockchain which supports the Bitcoin network. So, in this manner, ETH is a brother to Bitcoin and should not really compete with it. However, the popularity of Ethereum has pushed it into competition with many cryptocurrencies, especially from traders’ perspective.
All in all, both of these cryptocurrencies have different approaches and different aims for the future. While BTC is undoubtedly the most popular cryptocurrency out there, ETH is also following its footsteps and is increasingly popular among investors and fintech/blockchain enthusiasts.
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