Bitcoin and Ethereum are both digital currencies that are used as a medium of exchange in online transactions. These two currencies have been around for a long time and are now seeing a huge surge in popularity. This has led to the question being raised, which is bigger Bitcoin or Ethereum? Both these currencies have
Bitcoin and Ethereum are both digital currencies that are used as a medium of exchange in online transactions. These two currencies have been around for a long time and are now seeing a huge surge in popularity. This has led to the question being raised, which is bigger Bitcoin or Ethereum? Both these currencies have their own pros and cons. In this article we will try to answer this question and see how they compare.
Bitcoin was created by Satoshi Nakamoto in 2008. It is a peer-to-peer electronic cash system. It is decentralized and operates without a central authority. It is open source and can be downloaded from the internet. Bitcoin is traded on various exchanges like Bitfinex, Bitstamp, and GDAX. There are currently 21 million Bitcoins in circulation. The value of one bitcoin is currently $10,000.
Ethereum was created by Vitalik Buterin in 2013. It is an open-source, public, blockchain-based distributed computing platform. It is designed to enable developers to build decentralised applications. It is also a smart contract platform.
There are currently over 1,500 decentralized applications (dApps) built on Ethereum. The dApps include such things as decentralized exchanges, prediction markets, decentralized file storage, and decentralized autonomous organizations.
Bitcoin has a market cap of $100 billion while Ethereum has a market cap of $45 billion. This means that Bitcoin is about 4 times larger than Ethereum.
Bitcoin is a store of value while Ethereum is a platform. This means that it is more suited to use as a medium of exchange. Bitcoin is not only used as a medium of exchange but also as a store of value.
In terms of trading volume, Bitcoin has a market cap of $150 billion while Ethereum has a market capitalization of $90 billion.
Bitcoin has a lower volatility compared to Ethereum. Bitcoin’s price has increased by about 500% in the last year. Ethereum has increased by about 350% in the same period. This means that Bitcoin has a higher increase in its price over a short period of time.
The total supply of Bitcoin is limited to 21 million. This means that the number of Bitcoins in circulation is decreasing. The total supply of Ethereum is not known at this point in time.
Bitcoin has a faster transaction speed than Ethereum. A Bitcoin transaction takes an average of 10 minutes to complete. A Ethereum transaction takes an average of 15 minutes to complete.
The fees charged for Bitcoin transactions are much lower than those charged for Ethereum transactions. This means that Bitcoin is cheaper to transact with.
Bitcoin has a fixed monetary unit. Ethereum does not have a fixed monetary unit. This means that you can buy a Bitcoin with any amount of money.
Bitcoin is divisible to 8 decimal places while Ethereum is divisible to 16 decimal places. This means that you can make a payment in smaller units.
Bitcoin is mined using proof-of-work while Ethereum is mined using proof-of -stake. This means that it is easier to mine Bitcoin compared to Ethereum.
Bitcoin has a smaller market share compared to Ethereum.
It can be said that Ethereum has some advantages over Bitcoin. However, Bitcoin is the more established currency and has a much higher market cap. Bitcoin is more suited to be used as a medium of exchange. It has a lower volatility compared to other currencies. It is less expensive to transact with and is divisible to smaller amounts.
Ethereum is a better platform for building decentralized applications. However, Bitcoin has a larger market share.
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