Bitcoin and Ethereum

Cryptocurrencies dubbed as the new form of money, are the new digital form of currency and payment systems. That have certainly revolutionised the currency market. These cryptocurrencies being Bitcoin and Ethereum. Bitcoin obviously being more popular than the latter, owing to its rapidly increasing popularity and price. Bitcoins were created by an unknown group of programmers, going by the name of Saktoshi Nakamoto in 2009. Whereas Ethereum was created by Russian programmer Vitalik Buterin in 2013. The major difference prevailing between them is the supply, as more than two thirds of Bitcoins have been mined/found till now. Whereas only half have been mined, of Ethereum until now. Another divide is the smart contracts concept present in Ethereum that adds layers of encrypted security to your block chains/ledgers where the currencies are stored. Something that is absent in Bitcoin’s block chains.
The basic functioning of both these currencies works around the market forces of demand and supply. The reason why Bitcoin has out staged Ethereum is down to the supply, owing to lesser supply of Bitcoins in the market, their demand is on the rise. The fact that the bitcoin’s growth rate has boomed up to 180% since the start of the year has further helped its cause. Although Ethereum has also risen in the past year, it’s still dwarfed by Bitcoin. Yet one thing has been made clear by the advent of digital currencies, that if Bonds were the safe haven for the old world economy. Then for the millennials and Gen Z, crypto currencies are proving to be the new safe haven. One that shall beckon a new era of e-payment and having an electronic wallet system.