What sets bitcoin apart from ethereum?

3 answers

• Jan 14, 2022 · 3 years ago
  Bitcoin and ethereum are two of the most well-known cryptocurrencies, but they have some fundamental differences. Bitcoin was the first cryptocurrency and is primarily used as a digital currency for peer-to-peer transactions. It operates on a decentralized network and has a limited supply of 21 million coins. Ethereum, on the other hand, is a blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It has its own cryptocurrency called Ether (ETH) and operates on a decentralized virtual machine. While both bitcoin and ethereum use blockchain technology, their primary purposes and functionalities differ.
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• Jan 14, 2022 · 3 years ago
  Bitcoin and ethereum have different consensus mechanisms. Bitcoin uses proof-of-work (PoW) to validate transactions and secure the network, while ethereum is in the process of transitioning from PoW to proof-of-stake (PoS). This means that bitcoin miners compete to solve complex mathematical problems to add new blocks to the blockchain, while ethereum validators are chosen based on the amount of ether they hold and are willing to 'stake' as collateral. The transition to PoS is expected to make ethereum more energy-efficient and scalable.
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• Jan 14, 2022 · 3 years ago
  As an expert at BYDFi, I can tell you that one major difference between bitcoin and ethereum is the programming language used for smart contracts. Bitcoin uses a simple scripting language, while ethereum uses a Turing-complete language called Solidity. This allows developers to create more complex and sophisticated smart contracts on the ethereum platform. Additionally, ethereum has a larger and more active developer community, which has led to the creation of a wide range of decentralized applications and tokens built on the ethereum blockchain.
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