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Ethereum(ETH) Vs. Bitcoin(BTC)
*** Which is better? ***
Well, that's kinda like comparing gasoline and an engine. Both useful, but very different things..
Ethereum is actually not a currency, we misuse the word. it's a platform. The coin it uses, ETH, is called Ether.
Ethereum uses whats called a smart contract to allow transparent, fast, inexpensive transactions of not just ETH (monetary value) but of detailed agreements, or contracts.
This would be a game changer for, say, buying car insurance or paying for dental care, or paying your plumber for his services before he has performed them. ETH was supposed to help out BTC, not compete with it!!!
BTC, or bitcoin, is a crypto currency, like ETH. However, it doesn't run on the Ethereum platform, only on the Blockchain. It does not use smart contracts and larger transactions can be extremely costly. BTC is more widely accepted, but when sending bitcoin transaction, only monetary value can be sent. Blockchain is just a transparent middle man for transactions, the currency used being bitcoin.
Hence "Denetralized Currency".
So, to recap: Ether is a crypto currency distributed across the Ethereum platform. Smart contracts allow one to send agreements, not just money. Other coins can also be sent through the ethereum network.
Bitcoin is another cryptocurrency distributed across the blockchain platform. It does not use smart contracts, allowing only monetary trades between users. It's more widely accepted but slower and more expensive transactions.
To conclude, If we compare Ether (not ethereum) to Bitcoin, I think Ethereum wins. ETH can do what BTC can not, the only upside to BTC is that its well known. As ETH blows past $1,600 today It appears as though the tables are turning
Thoughts?
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