Why ETH transaction is cheap and fast

[rosstiller]

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

[1713558636]

1713558636

[N-gen]

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

[fernandoelis1]

Ethereum has algoritm more easy to mining

[trudovik]

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

[liuqi]

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.

[vibingpositively]

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.

[TwisterPipister]

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

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.

[valheru]

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

[bellmen08]

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.

[Tankdestroyer]

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

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.

Whereas, bitcoin is the oldest crypto currency and the most popular one. That's why it cost higher than Ethereum.

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:

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.

[GaryCynthia]

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.

[kulsuma]

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.

[sehoon]

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.

[quthmvpv]

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.

[Geleve]

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.

[Ziaderi33]

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

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

[favelle75]

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

[cryptorTUX]

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

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....

[bundo]

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.

[rosabella]

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.