Is it profitable to exchange Bitcoins to Ethereum?
Alexander What is a better investment, Bitcoin or Ethereum?
About ten years ago, the mysterious Satoshi Nakamoto published Bitcoin white-paper, which describes "A Peer-to-Peer Electronic Cash System.". Then the world has seen the first cryptocurrency that caused a revolutionized in the financial world.
Since then, Bitcoin has become a part of world news, culture, and the global economy, as it never intends to disappear. Moreover, the BTC price went exponentially like a rocket. A few years later, Ethereum’s project has been launched and Ether price saw a speed growth by over 1000%.
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Definitely, Bitcoin and Ether were the best investment in the crypto industry, but people were always wondering, ethereum vs bitcoin; which is better? Fortunately, you will be able to know the answer after you read this article.
BTC vs ETH : Overview
First of all, It is important to understand what is bitcoin, and what is ethereum, before we go to discuss their similarities and the differences between these two largest cryptocurrencies.
Bitcoin and Ethereum both are ‘cryptocurrencies’ refer to the new form of digital money that is used as a tool of exchange value within a distributed network of users (peer-to-peer) without the need for intermediaries.
Bitcoin was the first cryptocurrency ever created, so naturally, it's the most famous one. It was launched in 2009 by pseudonymous developer Satoshi Nakamoto
The main purpose of Bitcoin was creating an independent and decentralized digital payment system based on mathematical proofs and cryptography. Unlike traditional banking systems, BTC transactions are tracked through a public digital ledger (called Blockchain).
Moreover, the Bitcoin network is using cryptographic to secure the economic system and to ensure that the creation of new cryptocurrency units and the validation of transactions go smoothly.
The interesting thing about Bitcoin that is not issued nor controlled by a single authority or entity but is rather sustained by many computers (called: nodes) spread around the world.
While how is Ethereum different from bitcoin?
Ethereum is an open-source distributed computing platform based on blockchain technology that can run smart contracts - applications that work as it was programmed without downtime, fraud or third-party intervention.
It should be noted that Ethereum is the name of the platform, while the cryptocurrency is called Ether or ETH.
Ethereum white-paper was written in 2013 by Vitalik Buterin, but it went live in July 2015.
Developers looked for a way to differentiate from the Bitcoin and make it exclusive with properties that stand out it in the crypto industry. They developed a new approach with a new platform and a more common script language.
Although Ethereum can be used for payments just like bitcoin, it also designed for creating DApps (decentralized apps) and smart contracts with its blockchain platform.