Is Ethereum similar to Bitcoin?

in crypto •  6 years ago 

Ethereum also a cryptocurrency like bitcoin. But Bitcoin one of the most powerful digital currency all over the world.

Day by day Bitcoin increase it's power and maybe the most next powerful for next generation. But most probably Ethereum is second powerful currency in crypto world.

Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability.

Bitcoin is first and foremost a currency; this is one particular application of a blockchain. However, it is far from the only application. To take a past example of a similar situation, e-mail is one particular use of the internet, and for sure helped popularise it, but there are many others.”

Dr Gavin Wood, Ethereum Co-Founder

In the Ethereum blockchain,instead of mining for bitcoin,you can earn ethereum for engage power if you are a bitcoin miner.

Beyond a tradeable cryptocurrency, most of application develpoers use Ethereum for pay their transaction fees and services on the Ethereum network.

Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the Bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.Beginners-Guide-to-Ethereum.jpg

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