Why ETH transaction is cheap and fast

[kryptqnick]

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

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.

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.

[badykvik]

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.

[drogas]

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

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

[Gtrust233]

i think its algoritm it will speed up ETH transctions.

[Isaak Brenner]

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).

[upyem2k]

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.

[kuyaJ]

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

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.

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.

[emanbea07]

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

[saturn.network]

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

[haidangtp]

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.

[moepaing]

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

[crestella]

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.

[siinssooo]

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.

[pacapa mloloh]

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).

[agatha90]

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.

[DimaGoGroup]

"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."

[Afobaje38]

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.

[fakegurutu]

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

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.

[Afobaje48]

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

[digitran]

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.