While both bitcoin and ether are cryptocurrencies, the ethereum blockchain is very different from the bitcoin blockchain. Bitcoin was designed purely as a digital currency. The ethereum blockchain is a more general implementation of blockchain technology.
Both offer anonymous transactions, and neither of the two is controlled or regulated by a centralised body. However, they still differ remarkably in nature as well as functions.
First of all, while bitcoin’s average block time is around 10 minutes, ethereum’s completes in just 12 seconds. Another distinguishing feature is differences in their monetary supply.
More than 65 percent of bitcoin has already been mined, while since its inception, not more than 50 per cent of ethereum are mined so far.
Also, they cost their transactions in different ways.
Rachit Chawla, CEO, Finway Capital said, “In ethereum, it is called gas, and the costing of a transaction varies on the basis of storage needs, bandwidth usage,…