Skip to content
Related Articles

Related Articles

Improve Article

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.BitcoinEthereum
1Bitcoin was invented by a person or group of people with the name Satoshi Nakamoto in 2008.Ethereum was proposed by Vitalik Buterin in 2013.
2The 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.
3It 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.
4Smart contracts are not present in it.Smart contracts on ethereum are written in programming languages like Solidity, Vyper etc.
5Generally, bitcoin transactions are only for keeping notes.Ethereum transaction may contain some executable code.
6Bitcoin runs on SHA-256 hash algorithm.Ethereum runs on Ethash proof-of-work algorithm.
7The block time of bitcoin is 10 minutes.The block time of ethereum is 12 to 15 seconds.
8The bitcoin blockchain has a block limit of 1 MB.The ethereum blockchain does not have a block limit.
9Bitcoin is the most popular digital currency in the market till date.Ethereum is the second-largest crypto-currency after bitcoin till date.

Attention reader! Don’t stop learning now. Get hold of all the important CS Theory concepts for SDE interviews with the CS Theory Course at a student-friendly price and become industry ready.

 

My Personal Notes arrow_drop_up
Recommended Articles
Page :