What are the Differences between BTC and ETH?
The above question is important to be answered so that from the differences between the two, we will have a strong basis or starting point for predicting both of them, which ones will be widely accepted and which will be eliminated in the future, at the end.
The Success of Bitcoin Compared to Ethereum
In terms of time circulation, Bitcoin is earlier than Ethereum. Bitcoin began in 2009, while Ethereum started in 2015. No wonder, in total value, Bitcoin is much higher than Ethereum.
Bitcoin has started earlier and achieved success first than Ethereum. For comparison, as of February 2018, the total value of all Bitcoin is $ 143 billion, while Ethereum is $ 88 billion. If it can be illustrated like companies, then Bitcoin perhaps could be illustrated like Unilever and Ethereum is like Starbucks.
The Development of Bitcoin Produced Ethereum?
However, despite being so successful, there are shortcomings of Bitcoin as the first blockchain. Because of these shortcomings, the idea and effort emerged to improve it. In other words, improvements made over time, actually aim to improve the performance aspects of Bitcoin, and Ethereum can be said as part of the results of the improvement.
As a result, Ethereum has a higher speed in terms of transactions compared to Bitcoin. Also, in terms of construction, Ethereum is more sophisticated. If Bitcoin tends to store currency only in the wallet, like accounts database (wallet), while Ethereum is more than that, it also stores computer code, applications, and so on.
In addition, with regard to consensus to anticipate excessive or 'forbidden' duplication, Ethereum is also equipped with a "smart-contract". And, moreover, it can also make other cryptocurrency or tokens using the same protocol as Ether, which can be distributed on different blockchain, in public or private.
Conclusion and Personal Opinion
From the explanation above, it can be concluded that in a long period of time, the more advanced blockchain technology will dominate more broadly. So, both users and exchanges are important to realize and anticipate this.
Personally, as a user on one of the exchanges called CoinTiger, I noticed that CoinTiger understands and monitors these developments and progress. That is why I invested in the exchange. Besides their very professional service, they also really understand the business they are running and improve. As the positive consequence of those, our investment could be successful and sustainable.
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Reference:
What Is The Difference Between Bitcoin and Ethereum?. Bernard Marr. Forbes. 5 Feb 2018. Web.
What The Success Of Bitcoin Tells Us About The Power Of Story Telling. Joel Comm. Forbes. 2 Oct 2017. Web.
Explaining Directed Acylic Graph (DAG), The Real Blockchain 3.0. Sherman Lee. Forbes. 22 Jan 2018. Web.
