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Difference Bitcoin and Ethereum
  • Last Updated : 22 May, 2020

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 :

Sr. No. Bitcoin 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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