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Author Topic: what's the difference between blockchains?  (Read 71 times)
kidis
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August 24, 2018, 07:29:36 AM
 #1

like there is ethereum blockchain and bitcoin one. or not?
can u give me some trustable resources to learn it?
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August 24, 2018, 08:22:46 AM
 #2

like there is ethereum blockchain and bitcoin one. or not?
can u give me some trustable resources to learn it?
Google knows mostly everything, use it.

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August 24, 2018, 10:21:59 AM
 #3

like there is ethereum blockchain and bitcoin one. or not?

Yes. Ethereum and bitcoin are seperate entities. Both have their own blockchain, and both are indeed very different.

Some of the most notable differences:

1.Currency issuance: Bitcoin creates 12.5 new bitcoins every 10min (or 75/hr) while Ethereum creates 3 new ether every 15 seconds (or 720/hr).
2.Currency cap: Bitcoin is limited to 21 million bitcoins, of which 17m have been created so far. Ethereum has no hard cap currently, but there are plans to reduce or stop issuance in a year or two. There are currently roughly 100m ethers.
3.Bitcoin creates a new block every 10 minutes (on average). Ethereum creates a new block every 15 seconds.
4.While bitcoin has a scripting language built in, it’s very limited in functionality with only a few dozen operations. Ethereum has a full general-purpose language integrated (known in computer-speak as Turing-complete). Programs written in this built in language are known as “smart contracts”.
5.Ethereum assigns a cost, known as gas, to every operation or use of storage on the blockchain. Bitcoin transaction costs are based simply on their size.
6.Each block in bitcoin is limited to 1MB in size (or 8BM in the case of Bitcoin Cash). In Ethereum, blocks are capped by the gas-limit, the total overhead of all the operations in the block. In practice bitcoin can process 4 transactions per second, Ethereum roughly 15.
7.Ethereum smart contract code lives at its own address on the blockchain as opposed to being within a transaction as in the case of Bitcoin. Therefore Ethereum has two account types, one to hold user funds, the second to hold computer code (which can also hold funds).
8.Ethereum includes blocks that are valid but were outpaced by another newly accepted block. These almost-accepted blocks are known as “uncles” and their incorporation provides added security to the chain and allows Ethereum to have shorter block times.
9.Bitcoin’s hashing algorithm (SHA-256) can be performed efficiently with special purpose hardware, known as ASICs (application-specific integrated circuit). The Ethereum hashing algorithm (KECCAK-256) is memory intensive so it’s far more difficult to build an economical special-purpose chip for. This allows for Ethereum to have greater mining decentralization.
10.Ethereum has plans to move away from mining altogether by changing the consensus algorithm from Proof-of-Work (PoW) to Proof-of-Stake (PoS). PoS creates blocks based on the token holdings of the nodes rather than computational power. In addition, Ethereum plans to tackle scalability by implementing “sharding”. Sharding breaks up the blockchain into many many interconnected sub-blockchains. Bitcoin currently has no such plans.

Quote
can u give me some trustable resources to learn it?

What exactly are you referring to here? Learning the differences between them or learning how to program on them/work with them ( Learning Solidity etc?)

kidis
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August 24, 2018, 10:31:29 AM
 #4

like there is ethereum blockchain and bitcoin one. or not?

Yes. Ethereum and bitcoin are seperate entities. Both have their own blockchain, and both are indeed very different.

Some of the most notable differences:

1.Currency issuance: Bitcoin creates 12.5 new bitcoins every 10min (or 75/hr) while Ethereum creates 3 new ether every 15 seconds (or 720/hr).
2.Currency cap: Bitcoin is limited to 21 million bitcoins, of which 17m have been created so far. Ethereum has no hard cap currently, but there are plans to reduce or stop issuance in a year or two. There are currently roughly 100m ethers.
3.Bitcoin creates a new block every 10 minutes (on average). Ethereum creates a new block every 15 seconds.
4.While bitcoin has a scripting language built in, it’s very limited in functionality with only a few dozen operations. Ethereum has a full general-purpose language integrated (known in computer-speak as Turing-complete). Programs written in this built in language are known as “smart contracts”.
5.Ethereum assigns a cost, known as gas, to every operation or use of storage on the blockchain. Bitcoin transaction costs are based simply on their size.
6.Each block in bitcoin is limited to 1MB in size (or 8BM in the case of Bitcoin Cash). In Ethereum, blocks are capped by the gas-limit, the total overhead of all the operations in the block. In practice bitcoin can process 4 transactions per second, Ethereum roughly 15.
7.Ethereum smart contract code lives at its own address on the blockchain as opposed to being within a transaction as in the case of Bitcoin. Therefore Ethereum has two account types, one to hold user funds, the second to hold computer code (which can also hold funds).
8.Ethereum includes blocks that are valid but were outpaced by another newly accepted block. These almost-accepted blocks are known as “uncles” and their incorporation provides added security to the chain and allows Ethereum to have shorter block times.
9.Bitcoin’s hashing algorithm (SHA-256) can be performed efficiently with special purpose hardware, known as ASICs (application-specific integrated circuit). The Ethereum hashing algorithm (KECCAK-256) is memory intensive so it’s far more difficult to build an economical special-purpose chip for. This allows for Ethereum to have greater mining decentralization.
10.Ethereum has plans to move away from mining altogether by changing the consensus algorithm from Proof-of-Work (PoW) to Proof-of-Stake (PoS). PoS creates blocks based on the token holdings of the nodes rather than computational power. In addition, Ethereum plans to tackle scalability by implementing “sharding”. Sharding breaks up the blockchain into many many interconnected sub-blockchains. Bitcoin currently has no such plans.

Quote
can u give me some trustable resources to learn it?

What exactly are you referring to here? Learning the differences between them or learning how to program on them/work with them ( Learning Solidity etc?)

thank you, it really helps.
No, for now I just want to understand the differences, but now It gets clear.
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August 24, 2018, 02:40:04 PM
 #5

Ethereum blockchain os a blockchain designed to run smartcontracts and decentralized applications (dapps).

It uses different blocksize, blocktime, among different characteristics.
Ethereum is also Turin complete, which means it allows a wide range of different applications to be designed on it's platform.

Bitcoin is focused in financial transactions, while some smartcontracts are also possible to be run in btc blockchain. Bitcoin is also more focused on security, being much more conservative.

There are other cryptocurrencies which are specialized in faster transactions, and are more Centralized, such as nano iota..


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August 24, 2018, 09:20:43 PM
 #6

What distinguishes mainly the blockchains are the use of smart contracts, dags, anonymity scale, scalability and masternodes
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August 24, 2018, 09:49:22 PM
 #7

I would better read as much as white papers I can if I were you.
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August 24, 2018, 10:22:50 PM
 #8

like there is ethereum blockchain and bitcoin one. or not?
can u give me some trustable resources to learn it?

All of them are blockchains because have the same root, and that's the blocks with transactions on them, but at the same time each blockchain have it own rules, for example,bitcoin blockchain have blocks each 10 minutes, and clamcoin blockchain have blocks each minute. As we can see each blockchain have it own rules and that's what makes them different.

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August 25, 2018, 01:54:39 AM
 #9

like there is ethereum blockchain and bitcoin one. or not?
its completly different thing
you have chosen worst comparision because they have very little in common
if you would compare bitcoin and bitcoin cash blockchain, there is little to no difference for example

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August 25, 2018, 02:22:20 PM
 #10

Bitcoin and Ethereum are just two of many examples. But what make them different?

One of significant characteristic is their consensus model (or mechanism). It determines the algorithm of work of the system. Who and when is responsible for transactions validation, in what order they are processed, how conflicts are resolved in the network, and how decisions are made by all the participants. Some of well-known consensus models are:

  • Proof of Work
  • Proof of Stake
  • Delegated Proof of Stake
  • Proof of Burn
  • Proof of Identity
  • Proof of Importance
  • Byzantine Fault Tolerance
  • Proof-of-Activity

There is enough info in the Internet, for example, here's an article to begin with.

Some projects are based on one of the existing consensus model, others write their own rules or adapt existing ones to their project's conditions. Then developers implement the algorithm in their smart contracts and decentralized apps. So, the next differences can be software design, details of implementation, their tokens use cases, its rate, etc.
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August 28, 2018, 04:41:54 PM
 #11

Ethereum blockchain os a blockchain designed to run smartcontracts and decentralized applications (dapps).

It uses different blocksize, blocktime, among different characteristics.
Ethereum is also Turin complete, which means it allows a wide range of different applications to be designed on it's platform.

Bitcoin is focused in financial transactions, while some smartcontracts are also possible to be run in btc blockchain. Bitcoin is also more focused on security, being much more conservative.
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