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Ethereum(ETH) is the second most popular in the crypto space after Bitcoin(BTC). Ethereum runs on the ethereum network. Also, second-most in the crypto chart in the market capitalization

BItcoin and  Ethereun are alike in several ways. Both are traded through online exchanges being a digital currency. Both are decentralized tokens and not regulated by government or individual persons and make use of blockchain technology. Blockchain technology is a decentralized ledger. 

However, these both are very keenly distinguished and are the most famous cryptos in market capitalization. Here are some of the differences between bitcoin and ethereum. 

Key points:

Blockchain technology, An fundamental innovation  of bitcoin can be used for various purposes

The new form of digital asset that works beyond the control of government regulations or aNY INDIVIdual.

The best part of eth is that it doesn’t only use blockchain technology for maintaining or exchanging decentralized payment but rather makes use of it in the form of storage as it stores computer codes that can be used as defi contracts and dapps. 

Ether runs its apps and contracts on its platform, eth’s network currency.

EThereum rather than competing was crafted for appreciating but turned out to be a competitor in the crypto space.

Bitcoin basics 

Virtual currency Bitcoin is similar to traditional currency but differs from decentralized crypto that used peer-to-peer technology for instant payment. Bitcoin is not owned or regulated by any individual or any government institution like traditional financial payments. Moreover, bitcoin price completely depends on demand and supply

The coin was introduced in the year 2008 by an anonymous person or group of persons. Bitcoin has surprised the world so far by its fundamentals. 

Fundamental Analysis

Bitcoin’s white paper was published in the year 2021 month of October dated on the 13th. The white paper consists of peer-to-peer and digital currency and also consisted of the decentralized ledger of transactions. After the development of bitcoin 2 months later the group initiated mining of the coin. 

After some years the many programmers contributed to developing the crypto software implementing news features into it. 

Bitcoin’s lightning network acts as a network’s second layer added to Bitcoin’s network layer allowing transactions between two parties of the blockchain. This network is considered a revolutionary concept in the Crypto space.  It is designed to allow quick transactions and reduce the associated costs of BTC’s blockchain. The lightning network was developed by Thaddeus Dryja and Joseph Poon. Moreover, the much-awaited Bitcoin taproot upgrade is scheduled for November 2021, the upgrade will further scale up the network capability.

Bitcoin Overview :

Ethereum basics: 

Ethereum is an open-source decentralized blockchain that functions on smart contracts. The native currency ether was evolved by its miners considering it as a dividend moreover for calculating blockchain’s safety. 

Ethereum was developed by a programmer in the year 2013.  The project was an online sale that was conducted between July and August in the year 2014 later the network started functioning in the year 2015 July 30th 

Fundamental Analysis

Ethereum operates using decentralized blockchain technology to create Decentralized apps and also make agreements, called smart contracts that run on computer codes and can is operable without third-party intervention.

 Often referred to as Decentralized finance Defi, with powering Nonfungible tokens, the proof of ownership remains at the mark for the network.

The Blockchain currently accommodates over 2,60,000 different cryptocurrencies, 47 of which are among the top 100 by market capitalization. The network follows a peer-to-peer mechanism! You can easily make agreements through smart contracts, and shift money to anyone around the world!

Currently, the network is capable of processing just 15 to 45 transactions per second, which has been a major setback since the advent. While the upcoming altcoins have skyrocketing per sec transaction figures, Ethereum is still far behind. 

With Elon Musk and many other crypto celebrities calling off the PoW mining process because it generates high carbon footprints, the Network has planned to shift the same to PoS. The platform ensures the ETH 2.0 upgrade to be more scalable, secure, and sustainable. A 100% energy efficiency is one of the notable outcomes to expect!

Beacon chain, the mechanism behind the up gradation and the next phase of update would merge with the blockchain network and called the Mainnet. Being the most awaited phase, the transition might happen soon! On a successful launch, the network can process up to 100,000 transactions per second. 

Using ETH as collateral to yield other digital assets powered by the platform is gaining increased popularity among many users. Also, one can earn huge profits on staking Ether. Moreover, this helps to secure the platform and earn rewards.

Overview:

Check out: ethereum classic price prediction