Ethereum vs Bitcoin

News/Global News/Ethereum vs Bitcoin
27.04.2018 16:41

For the first time, Bitcoin was launched almost 10 years ago. It proved to be a revolutionary and unique project, which opened a conceptually new digital era for all humankind. Many similar virtual coins, which had the same principle, were created during the existence of Bitcoin. Lots of inexperienced users in the field of information technology cannot give a clear answer to the question about the difference between these services, but the developers’ aspiration to improve their blockchain platforms makes this difference more significant.

In 2015, one of the main competitors of Bitcoin — Ethereum or “ether” — was launched. Based on market capitalization and stable increase in value, this currency has the second highest rate of popularity after Bitcoin. By its nature, Ethereum is a blockchain platform, which has ample capabilities and improved functionality. If Bitcoin is an exclusively peer-to-peer payment system, Ethereum is a system where you can not only make decentralized digital payments using ether but also create peer-to-peer applications that run on the basis of smart contracts. A smart contract is a computer algorithm designed to conclude and maintain commercial contracts in the blockchain system. Due to this feature, more and more users choose Ethereum to transfer assets as well as accumulate them.

Despite the fact that the Ethereum crypto currency is quite young, a lot of people think that it is a promising one. Being an open upgraded platform, Ethereum facilitates the use and implementation of the Blockchain technology in various social and economic structures. Due to its multitasking, Ethereum attracts not only new start-ups but also software developers, banks, airline companies and other major investors.