Title: What is the difference between Bitcoin & Etherum Post by: Pearlfx on November 22, 2017, 05:42:19 PM What’s the difference between Bitcoin and Ethereum?
First, it’s important to understand that there are two categories of digital coins: Cryptocurrencies (e.g. Bitcoin, Litecoin, Monero, ZCash, etc) and Tokens (e.g. Ethereum, Filecoin, Storj, Blockstack, etc.) Bitcoin is a “cryptocurrency.” Bitcoin and other cryptocurrencies are competing against existing money (and gold) to replace them with a truly global currency. The promise of Bitcoin is that it is: A global currency which allows individuals to own their own money (without having to rely on national banks). Lower fees for transferring money across geographic borders. Financial stability for people who live in countries with unstable currencies. (e.g. In 2016, the Venezuela’s currency hit an inflation rate of 800%). In addition, two-thirds of the current global population has no access to banking, or limited access — Bitcoin is changing that. Ethereum is a “token.” What Bitcoin does for money, Ethereum does for contracts. Ethereum’s innovation is that is allows you to write Smart Contracts: basically any digital agreement where you can say “if this” happens, “then something else happens.” For example:
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