Bitcoin Forum

Hello,
I want to know why Ethereum transaction is much cheaper and faster than bitcoin ?

I think it's because there's a significant difference between the two, they have different systems and advantages, they have very different blocks maybe that's affecting, but that's just my speculation, I do not understand why they are so different

Ethereum has algoritm more easy to mining

Sometimes transitions can take a very long time and cost very much, I would not say generalized, so today I do not join this opinion, it seems to me that Vitalik needs to bring the matter to completion, otherwise the EOS project will be able to kill ETH

Bitcoin technology is older and costlier transaction. But Ethereum is easy mine and low transaction because ETH concept is used in most of the project so other coins also depends on ETH platform. Automatically Ethereum is popular in Crypto market and transaction fees is depends on mining capability of the coin.

Transactions are cheaper because the network can handle more transactions a second. The reason transactions are faster is because there is more space on the network (generally, not during high ICO times) and thus encourages more miners. Also the barrier to entry for mining Ethereum is lower than Bitcoin which could be another reason the network functions better most days. Don't be fooled though, these technological changes of speed and cheap transactions can be added to any chain, Bitcoin is moving to a side chain for this. Once LN is on and running, you won't be looking to Ethereum for cheap and fast transactions, everybody will be back on Bitcoin imo.

The main reason is that the time of ethereum blocks is 15 seconds, while the bitcoin has 10 minutes, but this does not mean that the bitcoin creator made a mistake by making the blocking time too long, the longer the time between blocks, the less probability of blockchains split appearing, therefore we cannot endlessly reduce it, to milliseconds for exemple.

Bitcoin requires more powerful equipment because mining Bitcoin is harder than Ethereum. In brief, the answer is,  block difficulty differences.

Ethereum is easy to mine and it uses the latest technology. Whereas, bitcoin is the oldest crypto currency and the most popular one. That's why it cost higher than Ethereum.

You already have your answers so please close this thread. IMO though, ETH transaction is not the cheapest and fastest out there. In fact, transactions that are done on other altcoins such as doge is cheaper and faster when compared to ETH so let's not start comparing the two in terms of transaction speed and fees because some altcoins are far better to use in transactions than ETH.You are right that bitcoin is slower because of its popularity(since btc got more volume of transaction per second than eth) but being the oldest doesn't mean that it is bound to be slow because improvements are also being done to bitcoin. Just like what this user said:

I can't fully agree with this argument. Because sometimes they also take long time for transaction. It not happened regularly. But it’s true they use a great technology.

Yes, ETH is growing much because its transaction is cheap and fast. It uses a better technology han bitcoin and the team working bihind is very efficient too. The mining is easier in ETH and this makes the cost low.

It is because Ethereum existed three years ago. And it is expected that it will deliver a more sophisticated form of transactions that are cheaper and fast. But even though Ethereum transaction is good, I think other cryptocurrency transactions will also develop soon as well. Since the demand when it comes to cryptocurrency is getting bigger every year.

I don't think Ethereum is much better than BTC in terms of payment efficiency. Ethereum is not fast when Internet congestion is encountered and gas costs very high. I hope that in recent years, Ethereum can deal with this problem, otherwise it will restrict the development of Ethereum.

because of its technology my friend. ethereum blockchain is better developed comparing with bitcoin blockchain. it has a better and bigger network size. everybody is waiting for lightening network for bitcoin otherwise bitcoin is not enough practical to use.

In my opinion, bitcoin technology is out of date, as is ethereum, between bitcoin and ethereum, fast transactions are ethereum, but, new coins now have good technology, beating bitcoin and ethereum

There are more fast and cheaper coins around. LTC is cheap and fast Waves is lightining fast also neo is same too.
Just open your eyes and mind and you will find the best and cheap one for transaction purposes also do not forget DGB

Because ethereum is not the same as bitcoin. It has different code in it. As everything is programed by human you can tweak every little parameter in your code. How you do that at first? Simply for the code base of bitcoin and tweak it's parameters such ethereum made blocks to come every few seconds while with bitcoin blocks appear every ten minutes, see the difference? It is moving faster and putting transactions all together which makes it cheaper. But again ethereum had much more transactions due to smart contracts working all over the place so they would have to implement such thing either way. However bitcoin devs don't clearly want such thing to happen with bitcoin....

I just think that bitcoin is designed to function as a peer-to-peer electronic payment system. Meanwhile, Ethereum is designed for smart contracts that are executed when meeting certain conditions.

Because I think that compair to Bitcoin, ETH has faster blocks, so even if you don't get in the next block, you are probably okay with only a minute confirmation time. Also, since there is no hard block size limit, there's no limit on how many transactions a miner can process, so you are not competing with other users by much.

This is because ethereum is now processing twice as many transactions per day as Bitcoin, at one tenth of its cost. Transactions are 100 times faster on average and twice as much money moves through the network.The Ethereum Network community is much more focused on creating a winning product than just making money. However, Bitcoin has its name: probably only increase in price, and the fact that it is horribly antiquated and expensive for everyday transactions.

main reason behind ethereum transaction is much cheaper and faster than bitcoin i would say it's advanced technology.

Eth system is new in the market and they developed new technology based on this facilities you can get but end of the day the price of eth is low it’s not profitable also but if you invest money in btc you can earn more which will give your real benefits also bitcoin is developing their system also I think it’s fast I don’t think it’s slow system also less transaction fee makes us more happy.

How about you try to use bitcoin's lightning network and Im pretty sure that you will be surprised how cheap it will become and how fast the confirmation will arive, the bitcoin's transaction can be even cheaper than bitcoin only if the people only use as small fee as they can but in reality people want their transaction to be confirmed as fast as possible, resulting in an increase of transaction fee massly which therefore affecting the blockchain as a whole.

Ethereum transactions are cheap and fast only if you compare them to Bitcoin. But if you look at other cryptocurrencies, you can find many with cheaper and faster transactions, like Komodo or Stellar for example.

Bitcoin is old in the market. Ethereum arrived in the market just a few days ago. So, ethereum has better technology for smoother and faster transaction.

Honestly, I'm not strong in the technical characteristics of coins, but I think that the Ethereum is the strongest coin in terms of characteristics. The thing is in the developed platform.

There can be many reasons for this. I believe this is on the grounds that there's a noteworthy contrast between the two, they have distinctive frameworks and favorable circumstances, they have altogether different squares possibly that is influencing, yet that is only my theory, I don't comprehend why they are so unique.

We can't compare ETH and BTC network, so we can't do the same with transaction fees. Also you should pay attention on transactions amount and time between blocks.

ETH is much better adapted to use than bitcoin, really newer technology than in  BTC .

The block of ethereum is nore lights than bitcoin
It makes ethereum are more easy to mining
And make the block confirmation run so fast

I think it's all that has been a lot of time between creating a bitcoin and etherium. And the ETH was made much more technologically. Who knows,  maybe EOS will be even cheaper and faster, as it is even more recent technology

it can be caused because ethereum has a lot of investors, the number of coins that spread large enough so that the possibility of transaction is very large too. And then at this time many projects once a project based on ethereum blockchain, so that opens the possibility of transactions using ethereum or the sale and purchase of ethereum is greater.

compare to bitcoin eth is more fast and cheap because ethereum dev is has taken experience through what happened to bitcoin

Let me ask, did you send or have transaction when ethereum was $1400 last year, if you did you will notice around that time the gas price and gas limit of ethereum transaction must be increase before you could send out transaction.
I remembered when bitcoin was 700$ before the bullrun the transaction fee was minimal but when bitcoin value shoot up the fee also increased
But as far as why it is faster than bitcoin i think ethereum smart contract was an improvement to bitcoin.

it might happen due to the concept of the founder of ethereum itself. how they can create coin which can be acceptable and frequently used by many people. moreover, ethereum appeared after bitcoin, it can adopt from bitcoin by determining the strength and the weakness of bitcoin in terms of transaction. from the weakness, the team can learn to create it better.

It doesn't matter and the only reason because the block size of ethereum network is more bigger compared with bitcoin and ethereum has fast block than bitcoin. it has a different spesification.
Algorithm doesn't matter a lot at this case and you must understand about that.

Etherium system is far more better and faster than bitcoin blockchain. The other part of its attractiveness is that etherium will be always cheaper than bitcoin and has high liquidity, hope it will last forever.

Actually, it depends on the algorithm and the blockchain technology. Since both are easy in crypto, costs are preferably low as well.

The money transfer in the crypto money world is cheap thanks to the Blockchain system.
With the Blockchain system you can transfer money quickly, cheaply and easily.
The system is so good thanks to the blocks created on the network.

That might be true, but currently the bitcoin's transactions are pretty cheap and fast. Today I payed 10 cents for a priority transaction which was performed in about 10 minutes! Yes, eth is still cheaper and faster, but in these hard times I trust bitcoin more, as mining eth is totally unprofitable and the platform is too buggy to be considered reliable. I don't understand why people keep forgetting all those eth coins that were lost simply due to bad programming.
However, eth is mined a lot easier. If my calculations are correct, every minute there appear eth worth $169.8k and btc worth only $9.377k.

I think some of the reasons why transaction is cheaper in ethereum than bitcoin is because bitcoin requires more powerful equipment to mine it and the transaction is expensive and slow while it is faster for etherem because there is more space on the network and it is easy to mine. These two coin are different and thus have different system functions and algorithm and they both have different advantages.

Just overall has better tech behind it I think.

This is why I believe that ETH will eventually surpass BTC as the number one coin

i think its algoritm it will speed up ETH transctions.

BTC has future, I want to tell about SegWit and Lighting Network. These decisions reduce the commission and the transaction confirmation time(if I'm right - LN can confirm transactions instantly).

I'm not a ICT guy so I might not hit this at the centre. I think ethereum is cheap and fast in transaction is because the rate at which it mines is very fast.

And the ethereum was updated and it depends to the token you will transfer to another wallet or market.

That's why the ethereum was circulate than bitcoin and when you see the chart, the ethereum was always win when bitcoin and ethereum was topic.

I think because ethereum a have strong blockchain and the transaction its depends of your gwie if you using myetherwallet.

And it will only get better my friends, once the Casper project comes to light and block transactions happen in a couple of seconds :) That is when the age of decentralized exchanges will really come to life, as they will be real-time trading. And there is only one exchange that runs completely on the blockchain: https://radex.ai

I think because the price of ETH is lower than BTC, the transaction fee is cheaper. Due to different blockchain structure. So the transaction speed is different.

The answer is simple. ETH has the less value than BTC has now, and its volumes are not so large than BTC has.

Because is specifically tailored to speed up transactions and make it easier for people to use it, the speed of this transaction is the mainstay of ETH.

If I think why Ethereum deals are cheaper and faster then we will compare them with Bitcoin, because there are too many reasons to explain this, because I believe this is the reason that there is a contrast we should know between them, because they have a distinctive framework and favorable circumstances, they have totally different boxes that might affect, but that's just my theory, I do not understand why they're so unique.

in my opinion, ethereum technology has all the hallmarks of blockchain technology, ie free downtime, sensors, fraud, or third party interference. In addition the ethereum platform has a Ethereum Virtual Machine (EVM) which is a complete software (Turing complete).

because ethereum price is much cheaper than bitcoin price, ethereum is only 8% price of bitcoin, if the price of ethereum reaches 20000 $, surely the fee will be more expensive.

"Bitcoin has a very restricted block size limit. So if you want your transaction included in the next block, you're competing with everyone else. Miners of course like money, so they are going to take the highest paid blocks that will fit in the block size limit.
This artificial scarcity of available processable transactions is the cause of the high cost of transactions in bitcoin.
Ethereum has faster blocks, so even if you don't get in the next block, you're probably OK with a 1 minute confirmation time. Also, since there is no hard block size limit, there's no limit on how many transactions a miner can process, so you're not competing with other users by much."

I thought the high transaction price of BTC was mainly due to higher amounts of transactions, and some due to small block size, but the last few months there has been more transactions in the ethereum-chain than in the BTC-chain meanwhile ethereum transaction costs have stayed on a fraction of BTC cost.

Well Im no expert here when it comes to a topic like this but maybe ethereum were more faster and cheaper because from the start this is what they made of, the platform that they've able to come up with and ambition to do and now its paying all back to them because they're number two around bitcoin in any altcoins out there.

ETH transaction are faster to confirm but are less safe, ethereum can handle more transactions but it's means the blockchain is growing faster and also it's cheap and fast because it's runs many coins besides ether

I think ETH having a blockchain twice the size of that of Bitcoin, and that 16 second confirmations do not offer anywhere near the same amount of security that 10 minute btc confs offer bitcoin transactions.

Ethereum transactions are cheap and fast only if you compare them to Bitcoin. But if you look at other cryptocurrencies, you can find many with cheaper and faster transactions, like xrp as well.

Which makes Ethereum faster and easier to make transactions possible because these bitcoint and ethereum each have advantages or disadvantages, ethereum coint is lighter than bitcoint so it might be easier to make transactions

Is cheaper because the cost of mining bitcoin is far too high. It is much better to use cheap networks to transfer value and bitcoin only for long term storage.

although bitcoin trades slowly , it is more secure . from 2008 to new , bitcoin has almost no security issues . everyone knows that ETH was once invaded , and later their group created ether .

Can you tell me what do you mean about less safe? it never has any problem and everyone still fine to use it. The only problem when you are getting stuck in the network but it can be solved easily through re-broadcast your transaction again and i think that there is a lot of problem when using it and i can say it's safe

There can be many reasons for this. I believe this is on the grounds that there's a noteworthy contrast between the two, they have distinctive frameworks and favorable circumstances, they have altogether different squares possibly that is influencing, yet that is only my theory, I don't comprehend why they are so unique.

The transaction process of Ethereum is fast because it is designed to be that way. I do not know what mining algorithm Ethereum network uses but the speed of transaction depends on that algorithm. The cheap transaction fee is a result of the speed. The slower the speed, the higher the fee; the faster the speed, the lower the fee. This is only applicable for the comparison of transaction in ETH and BTC. Think about the speed of tx of ETH as a minimum of 14 seconds and BTC as a minimum of 10 mins. Since ETH miners mines more block than BTC miners then ETH miners could earn as much as BTC miners even though the ETH tx is low and the other way around.

compare to bitcoin eth is more fast and cheap because ethereum dev is has taken experience through what happened to bitcoin

The answer to your question is: it was programmed this way. Bitcoin was the first cryptocurrency ever and we have seen its flaws throughout the time. It was a pioneering project and every single cryptocurrency wants to beat it by its functions and usability and at the moment (with a help of ETH smart contracts), they are achieving this with ease. ETH is younger than BTC and its creator had the opportunity to build on something and add more things or improve existing ones, which he did.  ETH is better at scaling and faster than BTC because he had seen that its functions are not good enough for the future. This is the reason why we have the ability to send our money faster than before an invention of additional ecosystems like Ethereum is.

 Ethereum transaction currently supports roughly 15 transactions per second compared to other cryptocoins, but it's good for trading purposes but not on buying some stuff or food on restaurant- it should be 10,000 times larger than visa tps. well Vitalik will develop he's Ethereum blockchain in the long run.

 I think the platform is designed for this. However, sometimes we experience a huge network delay and expensive gas price. Lately, network syncing takes a lot of times specially when sending funds and trading. It sometimes take hours.

This fact takes place because ETH's characteristics differ than BTC's characteristics are. This gives a chance for ETH to have an opportunity to be the first among other altcoins.

If I think why Ethereum deals are cheaper and faster then we will compare them with Bitcoin, because there are too many reasons to explain this, because I believe this is the reason that there is a contrast we should know between them, because they have a distinctive framework and favorable circumstances, they have totally different boxes that might affect, but that's just my theory, I do not understand why they're so unique.

Ethereum is not all that fast and cheap as you think, it all depends on network, when the ethereum is clogged, transactions takes hours, even days to complete and the fees would be higher, as we witnessed with Fcoin recently.

Yes Ethereum transactions are cheap but Neo is even more cheaper
And in the case of bitcoin, it depends on your wallet; because Blockchain wallet fees are cheap and convenient also fast
Simply make sure to ascertain the wallet first and then figure out the cost of each transaction

The network of the Ethereum is designed for huge scalability and high speed of trasactions. The team is constantly working on improving the network of the Ethereum.

compare to bitcoin eth is exalted electric and bully in that ethereum dev is has bewitched affair over what developed to bitcoin

Ethereum has an algorithm that is easier to mine, Ethereum is also an easy mine and transactions are low because the ETH concept is used in most projects so that other coins also depend on the ETH platform. The reason for ETH transactions is faster is because there is more space on the network. meanwhile Bitcoin Technology is an older and more expensive transaction.

There are other blockboys : iota - free transactions.
Nebulas - for 1 coin worth $ 1 you can make a million transactional

The most reason why transactions in Ethereum network is faster than within Bitcoin blockchain is the shorter time per block generation. Ethereum block time is at least 40 times shorter. Transaction fee always correlates to blockchain load, so a more busy network demands a higher fee.

I think some about the reasons why exchange is less expensive in ethereum than bitcoin is on account of bitcoin requires all the more ground-breaking hardware to mine it and the exchange is costly and moderate while it is quicker for etherem in light of the fact that there is more space on the system and it is anything but difficult to mine. These two coin are extraordinary and subsequently have distinctive framework capacities and calculation and they both have diverse favorable circumstances.

because of the ease and speed of the exchange, ethereum was favored by many parties, many participants sought such convenience. because one of the best coins that makes ethereum has many ICOs who want to use ethereum in their projects. rising exchange rates make investors very fond of ethereum. the ease and speed of exchange given by ethereum can be an attraction for users of ethereum or crypto.

It has the latest program and it uses the blockchain 2.0 which make it very fast. That is why people trust it and use it vastly.