What is the difference between bitcoin and Ethereum?

Cryptocurrencies have become more popular in the society over the recent past. The Bitcoin and Ethereum are one of the many cryptocurrencies available in the market. It is important to understand that these cryptocurrencies have distinct features that differentiate them from each other. You can use the features to decide on which cryptocurrency to trade in. Below are some of the common differences between the Ethereum and bitcoin.

The two forms of cryptocurrency have totally different blockchain. Ethereum has a wider use for blockchain technology while the bitcoin’s blockchain is created mainly as a digital currency. It is important to note that Ethereum has a block time of around 12 seconds while bitcoin’s block time goes up to 10 minutes.

Another differentiating factor is the supply of this cryptocurrencies. About sixty-five percent of the bitcoin available has already been mined while only less than fifty percent of Ethereum has been exploited. You can visit web site for source information about Ethereum.

You should also note that the two cryptocurrencies have different ways through which they cost their transactions. The bitcoin costing is dependent on block size while the costing of a transaction in Ethereum depends on factors like bandwidth usage, storage basis, and the complexity of a given Ethereum.

Bitcoin is a more stable form of digital currency while Ethereum is mainly a platform that facilitates smart contracts and writing of codes that create different types of applications. The Ethereum uses ether to acquire the ability to make created programs to run.

Another major difference between the two is the size of transactions that can fit into a single blockchain. The bitcoin has its limit set at one megabyte. You can only complete three to four transactions in a single second when using the bitcoin. For the Ethereum, it does not have a blockchain limit. Here, the miner decides what number of transactions to put into one block. A single block can be mined in about twelve to fourteen seconds with around fifteen transactions being completed in one second.