1. Bitcoin :
Bitcoin is a digital currency that can be transferred on a peer-to-peer (P2P) network without the need of any central authority. It was invented by a person or group of people with the name Satoshi Nakamoto in 2008. All the transactions are stored in an immutable distributed ledger.
2. Ethereum :
Ethereum is a blockchain-based distributed platform. The network currency of Ethereum is known as Ether (ETH). Here also, the transactions are stored in an immutable distributed ledger.
Difference between Bitcoin and Ethereum :
|1||Bitcoin was invented by a person or group of people with the name Satoshi Nakamoto in 2008.||Ethereum was proposed by Vitalik Buterin in 2013.|
|2||The purpose of bitcoin was to replace national currencies during the financial crisis of 2008.||The purpose of ethereum was to utilize blockchain technology for maintaining a decentralized payment network and storing computer code.|
|3||It does not have smart contracts.||Ethereum allows us to create smart contracts. Smart contracts are computer code that are stored on a blockchain and execute when the predetermined terms and conditions are met.|
|4||Smart contracts are not present in it.||Smart contracts on ethereum are written in programming languages like Solidity, Vyper etc.|
|5||Generally, bitcoin transactions are only for keeping notes.||Ethereum transaction may contain some executable code.|
|6||Bitcoin runs on SHA-256 hash algorithm.||Ethereum runs on Ethash proof-of-work algorithm.|
|7||The block time of bitcoin is 10 minutes.||The block time of ethereum is 12 to 15 seconds.|
|8||The bitcoin blockchain has a block limit of 1 MB.||The ethereum blockchain does not have a block limit.|
|9||Bitcoin is the most popular digital currency in the market till date.||Ethereum is the second-largest crypto-currency after bitcoin till date.|
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