What is the basic difference bitcoin and ethereum?

[fuguebtc]

Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

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[Yogee]

...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools.

[Teknisi88]

Many people frequently ask is bitcoin better or is ethereum better.
Both were created with two different missions.
Bitcoin blockchain created a public and peer-to-peer online payment system: Peer to Peer Electronic Cash.
Ethereum blockchain create distributed computing system: Decentralized Computation. Ethereum allows developers to build and deploy decentralized applications (DApps). Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

While still volatile, Bitcoin is arguably one of the most stable cryptocurrencies with a long history, and has been the most consistent investment asset to date.
And Ethereum has been updated to create new ETH through a process called Proof of stake (PoS). With it, users can force collateral in the form of ETH to be a validator on the network. if there is more ETH then the value will be higher because there is only a little ETH in circulation.

[sunsilk]

There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.

Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.

[milewilda]

Just to add up some key differences.

Key Differences
While both the Bitcoin and Ethereum networks are powered by the principle of distributed ledgers and cryptography, the two differ technically in many ways. For example, transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. Other differences include block time (an ether transaction is confirmed in seconds compared to minutes for bitcoin) and the algorithms that they run on (Ethereum uses ethash while Bitcoin uses SHA-256).


Link source: https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp

[speedforce]

...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools.

I expect the term that cant controlled by any individual or organization is that if the dApps already deployed, the code cant be changed anymore.
Its not like an traditional apps where someone could update the apps and inject virus on it.

[Baofeng]

...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools.

And it's also hard to update Dapps, and much harder to maintain, specially if it become too complex.

For the updates, you need every node to comply so it might take some time as other nodes might not cooperate, you need a consensus, per se.

And then the security risks that you mentioned, it's the most important part of maintaining Dapps. So I would say it has it's limitations as compare to bitcoin.

[defi-Dany]

The two are not comparable.
Bitcoin established the status of cryptocurrency and is the king of cryptocurrency.
Ethereum is the king of altcoin and focuses on application.

[goaldigger]

There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.

Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.

It's normal for people to compare this two top coins and decide later on which they'll invest their money.

They both have different network and different purpose, it's more of a store value for Bitcoin and the  ETH network are widely used to create more projects under its network.

ETH and BTC are grows a lot over the past years, I'd appreciate how they lead this market into a good opportunity for everybody. I'm sure most of us here are holding this top two coins, that's one of the best decision we've ever made.

[Kemarit]

The two are not comparable.
Bitcoin established the status of cryptocurrency and is the king of cryptocurrency.
Ethereum is the king of altcoin and focuses on application.

Maybe the OP is comparing as far as the decentralization aspect is concern.

Of course, each is very different, but I would say that Ethereum is far more flexible because of it's dApps. And more devs are into it obviously as they would have to create applications that will work hand in hand with the dApps. And there are competitions already for Ethereum but nevertheless they still on the top of the competition despite many great crypto competing against them. dApps still remains relevant.

[Luffygroove]

As a pioneer in the crypto sphere, bitcoin has many advantages but also weaknesses. This project has been abandoned by Satoshi Nakamoto thou' I believe there are still many things that can be done. It becomes an obelisk for the crypto community and still has become the standard until now. However, Ethereum is still developing each day to become more sophisticated. It grows with technology and innovation like DeFi etc. Vitalik seems working hard for his baby. I won't be surprised if ethereum will be more superior in the near future.

[Xinarae*]

The difference between bitcoin and ethereum is that bitcoin tops all currencies in crypto. The currency of bitcoin is known as bitcoin and was targeted as the only alternative currency without any intermediaries like the central bank this allows anonymous transactions directly between the buyer and the seller ethereum The coin of ethereum the king of altcoin is known as ether. Although transactions are similar to bitcoin anonymously and digitally each transaction may contain much more information than a bitcoin transaction.

[DapanasFruit]

...Decentralized applications are run from source code running on the blockchain network so these applications are not controlled by any individual or organization.

The "decentralized" in Dapps is quite misleading. You could interact with these applications without the need of a middle man but I wouldn't go as far as saying nobody can control them. I am pretty sure you've read about hacked DeFi platforms freezing activities like farming and staking pools.

Yeah, I see what you mean. We are assuming that since Dapp is decentralized it can not be intruded or hacked but no the reality is so different based on many instances we already seen and even experienced for the past years. Well, this can be categorized under the "you can't have your cake and eat it too" thing. Anyway, am still hoping that there comes a time when we can really witness Ethereum and even Bitcoin for that matter fulfill their full potential.

[Nora Olin]

Both BTC and ETH are giants in the cryptocurrency field. They have similarities and differences. Ethereum serves as a platform that uses its own currency to promote contracts and applications. The purpose of Bitcoin is to serve as a global decentralized financial system, a medium for payment transactions, and the ability to become a store of digital value.

[btcltcdigger]

However, if i'm not mistaken, they are working on building assets on top of BTC blockchain now.
Maybe even go as far as smart contracts.

[RussianEnglishTranslation]

Ethereum is programmable money but it can't scale fast enough. Side-chains like FTM and NEAR aurora are good options to scale Ethereum.

[sunsilk]

There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.

Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.

Agree, both are greats project on Crypto space currently, the only thing that needs to be improved for both projects are the transaction time and cost.

The cost lately became cheap.

I've done several transactions for bitcoin and Ethereum and I'm surprised that those transactions didn't do much for the fee. A 2 sat per byte isn't a lot.

While for Ethereum it's 5-10 gas fee.

[dhemasm]

Of course, each is very different, but I would say that Ethereum is far more flexible because of it's dApps. And more devs are into it obviously as they would have to create applications that will work hand in hand with the dApps. And there are competitions already for Ethereum but nevertheless they still on the top of the competition despite many great crypto competing against them. dApps still remains relevant.

Yeah, I agree with you. Ethereum was more flexible with more wider scalability, They have the an solid community with tons of dApps for prototype for different use case, One of them is DeFi that we can see before becoming the new things Beside that NFT and sometimes integrated with games too, It's have a lot potential i suppose since the Smart-Contract was really powerful.

[fullhdpixel]

Many people frequently ask is bitcoin better or is ethereum better.

It's like asking who is better - the inventor or the innovator? I always feel that you cannot compare the successor with the founder/inventor because if the founder didn't existed, there was no place for a successor while if the successor doesn't exist, there is no room for improvement.

I would blindly say that ETH is much better and has more use cases than BTC but that doesn't mean it's better than BTC because they are both trying to solve a problem in different ways.

From an investor's point of view, I still prefer BTC over Ethereum and any altcoin because the face value of BTC is tremendous.

[sunsilk]

There is no need for the comparison of two. The descriptions were right and you've forgotten that both are being also used as a store of value.

Using smart contracts for Ethereum, you can make as much projects as developers can. And that's why we see various projects made from its blockchain.

Agree, both are greats project on Crypto space currently, the only thing that needs to be improved for both projects are the transaction time and cost.

The cost lately became cheap.

I've done several transactions for bitcoin and Ethereum and I'm surprised that those transactions didn't do much for the fee. A 2 sat per byte isn't a lot.

While for Ethereum it's 5-10 gas fee.

Yea its nicer now, but i expect lower gas fee so its can be used for small transaction like coffee shop or grocery. So it can be wide adoption and create a huge cashflow in the future.

For those type of transactions, the most ideal crypto for it is bitcoin. It's cheaper than before and with those coffee shops and other stores, they can accept bitcoin's lightning network.

That's surely are cheap fees for every transaction. There are some altcoins that are also good for it which offers free transactions like Nano. But it won't be stopped to see Ethereum being adopted to be used for those transactions.