Welp MagazineBoth Bitcoin and Ethereum are the two oldest and most reputable cryptocurrencies in the world right now. In terms of market capitalization, Ethereum comes second and Bitcoin remains at the top spot. Both cryptocurrencies employ some similar traits which make them look alike. Some of the similar characteristics include employing the same technology i.e., Blockchain, both of them are not controlled by any country’s central bank and both of them are traded on an online exchange platform with the facility of being stored in crypto wallets. Despite having the same features both cryptocurrencies are different in their ways. Before looking at their opposing traits let’s look at the history of each coin.
Bitcoin’s Past
Bitcoin was a very novel concept developed by Santoshi Nakamoto which got circulated in the form of a white paper. The deal which was offered by Santoshi Nakamoto the developer was very alluring. Unlike government currencies this currency could not be counterfeit nor be regulated by a central bank. The most striking feature of this system was that each bitcoin was allowed to be stored in crypto wallets secured by a ledger technology named Blockchain bitcoin equaliser app website promises to provide the safest and the most promising cryptocurrency trading platform for all Crypto lovers.
Ethereum’s Past
Blockchain technology was gaining popularity among other crypto enthusiasts. In this age of Innovation many other thoughts to develop their coins supporting similar features like bitcoin with some modifications. Ether was the currency being traded at the platform called Ethereum which was launched in 2015 is one of the greatest creations of human mankind in its history. Ethereum took a queue from Bitcoin and tried to add more features that were not supported with bitcoin trading. Ethereum gave their users a chance to create smart contracts and develop decentralized apps which were free from any fraud, or any interference from any bystander. Both bitcoins and Ether were created with the help of Blockchain technology but it would not be wrong to say that the Ethereum platform gave many extra features that bitcoin didn’t offer. Because of this, some people say that Ethereum has overtaken Bitcoin as the most used and famous cryptocurrency in recent years. But some people still consider bitcoin to be the ultimate gold and the reasons are very clear because most people use currency just to exchange and store values.
WHAT IS THE MAJOR DIFFERENCE BETWEEN THE TWO CRYPTOCURRENCIES?
The biggest difference lies in the way you want to use cryptocurrency in your daily life. Bitcoin offers you to shift from the traditional way of currency exchange to the digital way by giving you a secured locker. Whereas Ethereum is a programme developed through blockchain that provides you different apps which accept ether including Defi and Smart contract and NFTs.
BITCOIN THE GOLD AND ETHEREUM THE SILVER
The reason why Bitcoin is still so relevant and considered as the digital gold is that it has the largest market cap which is more than 1 trillion dollars. Ethereum is the second-largest cryptocurrency that offers you a wide range of activities and thus a precious invention like silver.
WHICH ONE IS BETTER
Now the ultimate question is which one is better. Well, there is no clear winner. Bitcoin with the largest market cap and with growing popularity is expected to remain popular among the general class of people, but when it comes to different choices and freedom then ether is much better since it is also supported by its platform Ethereum which offers different kinds of service and gives you the full benefit blockchain technology could offer. This question of who is better than what is something very individualistic and must be left on to individual wishes.
