The very first and largest Bitcoin digital currency is on everybody’s A-list. But Ethereum is rapidly catching up with it. Both cryptocurrencies can boast of a billion-dollar market cap. But how is Ethereum different from Bitcoin? Today, we’re going to find out!
The hype around cryptocurrencies begun in 2009 when the Bitcoin concept was developed. Meanwhile, up to 700 different digital currencies have been created. Market capitalizations in billions of US dollars set Bitcoin and Ethereum apart. Both of them are digital currencies, but they differ significantly in some aspects. Here is the Ethereum vs Bitcoin crypto battle. Let’s get started!
How is Ethereum Different from Bitcoin, Chart: Everything You Need to Know
Bitcoin was introduced in 2009. Its key goal was the creation of an independent monetary system that would make transactions much cheaper and faster. The concept was very well received worldwide.
The value of Bitcoin has increased by almost 85 percent in the past three months. Now the price is at the $8,930 mark. If Bitcoin weren’t a currency but a share, its market capitalization of $117 billion would be far ahead of large stocks such as BMW or Adidas.
What about Bitcoin vs Ethereum chart? Another popular cryptocurrency that Bitcoin is currently competing with is Ethereum. In July 2015, within seven months of its creation, the second most popular digital currency had a market cap of over $500 million. Just a few weeks later, the $1 billion mark was exceeded.
Today, Ethereum has a market cap of $22 billion. Ethereum is particularly popular with startups that use Initial Coin Offerings (ICO) to bypass the strict processes of bank capital allocation and thus raise capital for investing.
How is Ethereum Mining Different from Bitcoin Mining: Ethereum vs Bitcoin Fees for Miners
Bitcoin and Ethereum also differ in many other aspects. For example, in the block validation time. ‘How is Ethereum mining different from Bitcoin mining’ is a rather popular question today.
Bitcoin takes an average of ten minutes to complete a transaction from A to B, while in the case of Ethereum, it takes only around twelve seconds. Ethereum GHOST protocol made it possible.
Anyway, how is Ethereum different from Bitcoin? There is also a difference in the amount of reward. The maximum number of bitcoins in circulation is 21 million, the majority of which are owned by early miners. The developers of Ethereum were able to generate a million-dollar start-up capital by pre-selling their currency. This fact had a strong impact on the ETH crypto supply. 72 million ETH coins could be created at that time.
However, what about Ethereum mining vs Bitcoin mining battle? Today, about three ETH coins are created and distributed to the miners during mining. Nevertheless, the number of ETH coins isn’t unlimited.
Ethereum vs Bitcoin Price: What is the Key Difference?
What are the key differences in Ethereum vs Bitcoin price? Let’s try to find out! It’s necessary to note that Bitcoin and Ethereum are therefore two different projects that were designed with a different background.
While Bitcoin has been able to establish itself as a stable currency, Ethereum aims to provide a complete blockchain technology. Nowadays, the price of Bitcoin is $8,930. The Ethereum price is almost $203. Which of the two is the better investment?
It depends on what personal interests you are pursuing as an investor. If you’re about to secure digital money as an investment, Bitcoin is the right investment option. However, if you’re interested in the FinTech industry, Ethereum may be the more suitable investment.
Hope we’ve helped you to find out more about Ethereum vs Bitcoin value & main differences. However, where is one key note left!
You shouldn’t limit your focus to a single form of investment. If you invest all of your investment capital in a factory, you risk losing everything. Therefore, in accordance with the diversification principle, it’s recommended to keep an eye on various projects as well as to think bigger. This also applies to the young market of digital currencies.