13 differences between Bitcoin and Ethereum

EthereumAndBitcoinWhatsTheDifference

Credit: www.huffingtonpost.com

  1. Bitcoin is mainly for the monetary transactions.Ethereum is like a world computer. It can be used for carrying out various decentralized and secure applications in all fields. Its application extends to all fields.
  2. Bitcoin has a blockchain of PoW (Proof-of-work) which now consists of 1 Megabyte blocks. These blocks are mined in every 10 minutes on an average with the SHA-256 hashing. Bitcoin blockchain can process 3 transactions at a time. Ethereum also works with PoW blockchain currently, but they are trying to shift to Proof-of-Stake blockchain which will change all the concepts of mining of ETH. Ethereum blockchain has blocks of different sizes.
  3. In Ethereum the block time is set to 14 to 15 seconds compared to Bitcoins 10 minutes. This allows for faster transaction times. Ethereum does this by using the Ghost protocol.

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