In today’s world, everyone is interested in the latest crypto currency trend. And, like with most things in life, this can be confusing. Especially if you’re trying to figure out the difference between Bitcoin and Ethereum. Both are trying to do things in their own way, but there are some distinctive differences between the two. So what are they, you ask? Keep reading to find out.
Technology
A lot of people are under the impression that Bitcoin is better than all other currency platforms, especially where they are digital. Bitcoin is one of the first major crypto currencies and has been around for almost 9 years now. Ethereum, on the other hand has some pretty interesting technology associated with it. The platform itself runs on smart contracts, which are an extremely new revolutionary technology. And it’s being heard that this technology would also be part of the Bitcoin platform. From a technology perspective Ethereum is smarter. Bitcoin is not as sound and it lacks decentralized applications. Making Ethereum better than Bitcoin, because Ethereum is technologically sound.
Coins
Because Ethereum is a relatively new platform there are more coins available. Bitcoin, in comparison is a lot scarcer. Bitcoin is known to supply cap at 21 million BTC, whereas Ethereum has around 92 million coins being circulated. What people tend to overlook is the fact that it will remain an inflationary currency. And they will claim that this doesn’t matter. But it does. Ethereum is currently the only currency without ta fixed maximum supply cap. For now anyway. Bitcoin is better in this regard, because the availability and supply of the coin is more in Ethereum.
Fundraising
The Ethereum based donation platform is gaining exposure drastically and it is a great medium for donation and fundraising. This platform helps to gain maximum exposure through economically incentivized efforts. Grace is one of the fundraising platform that takes good care of promotions, collecting donations and raising funds at no extra costs. Which means that charities are its focus. All non-profit efforts can be extrapolated and scaled up easily.
The Grace Ethereum platform works on the Advocate Incentive mechanism where the users self interest is mingled with the social interest and provides the most simplest of solutions to complex problems. The platform makes donation safe, secure and open so that all the customers can see where the donations are going. And the platform ensures that the money goes into the right hands, so there is no chance for fraud.
Bitcoin on the other hand is a global, decentralized currency that allows a person to send money to the other person without interference from a third party like a bank. All you need is a computer to complete the transaction. Bitcoin runs on the block chain technology that is one of the most protective and accurate security systems.
Speculation
Both platforms are both helpful, and have contributed a significant value in the past year. If you compare the two, the percentage of gain is lesser in Bitcoin. Ethereum values have shot up ahead of, and surpassed Bitcoins. Bitcoin and Ethereum are mutually dependent on each other when it comes to price. Which means, when one goes up, so does the other. And when one goes down, so does the other. Bitcoin is definitely more stable of the two platforms. because it has been around for longer.
Even though they are very much the same, Ethereum is slowly gaining momentum. Both currencies are here to stay, so which one is actually better? Ethereum wins this round for the moment because: it is a new crypto currency software platform that runs on updated technology. It has a greater availability of coins. And it’s gaining momentum faster than Bitcoin for the moment.