Post
Topic
Board Altcoin Discussion
Re: What is the difference between Ethereum and Bitcoin?
by
BestSSS
on 19/07/2018, 18:16:48 UTC
Unlike Bitcoin, the primary purpose of Ethereum isn’t to become an alternative to money or payments. Rather, its purpose is to pay for smart contracts, transaction fees, and other services on the Ethereum network.
Please expound.

Ethereum was created fundamentally for decentralized applications, bitcoin embodies only the idea of a virtual currency. Simply put-bitcoin is the final product that enters the market under the guise of cryptocurrency. Ethereum is a platform and a tool, a programming language, ready to cope with the tasks of blockchain for the functioning of decentralized applications and systems.

If you are talking about bitcoin, you need to understand that it is a cryptocurrency, the team of which is working on honing the functions of the payment method, money transfer. The team of the Ethereum Foundation is committed to providing conditions for third-party development on the ethereum blockchain network, which will later replace the usual server services with distributed ones.

Also, two cryptocurrencies have quite common moments: as well as bitcoin, Ethereum is built on open source code. All transactions in networks are transparent and anonymous. All operations are irreversible and decentralized. Both technologies use a breakthrough achievement that developers were able to come — a distributed network of blockchain, which allowed the previously impossible order of work to become the Foundation for a new type of human interaction.