What is the difference between a Bitcoin address and an Ethereum address?

3 answers

• Dec 29, 2021 · 3 years ago
  Sure! When it comes to format, Bitcoin addresses usually start with a '1' or '3', while Ethereum addresses start with '0x'. In terms of functionality, Bitcoin addresses are primarily used for sending and receiving Bitcoin, whereas Ethereum addresses are used for interacting with smart contracts and executing transactions on the Ethereum network. As for security, both Bitcoin and Ethereum addresses rely on public-key cryptography, but Ethereum addresses also have the added security feature of supporting multiple types of signatures. Overall, while both addresses serve the purpose of identifying recipients, their underlying technologies and use cases differ significantly.
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• Dec 29, 2021 · 3 years ago
  Well, let me break it down for you. Bitcoin addresses are like your bank account number, but for Bitcoin. They are used to receive and send Bitcoin transactions. On the other hand, Ethereum addresses are used for interacting with the Ethereum blockchain. They can be used to send and receive Ether (the native cryptocurrency of Ethereum) as well as interact with smart contracts. So, in a nutshell, Bitcoin addresses are for Bitcoin transactions, while Ethereum addresses are for Ethereum transactions and smart contract interactions. Hope that clears things up!
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• Dec 29, 2021 · 3 years ago
  From what I understand, Bitcoin addresses and Ethereum addresses have some key differences. Bitcoin addresses are generated using the SHA-256 algorithm, while Ethereum addresses are generated using the Keccak-256 algorithm. Additionally, Bitcoin addresses are shorter in length compared to Ethereum addresses. In terms of functionality, Bitcoin addresses are used for sending and receiving Bitcoin, while Ethereum addresses are used for executing smart contracts and interacting with decentralized applications (dApps). It's important to note that different cryptocurrencies have different address formats and purposes. For example, if you're using BYDFi, you'll need to use a BYDFi-specific address. Each cryptocurrency has its own unique address format and use case.
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