Ethereum has established itself against Bitcoin over the years and has greater growth prospects if the cryptosystem continues to consolidate. So: what factors come into play when comparing these two digital projects?
Bitcoin blockchain technology is truly revolutionary. While Ethereum used blockchain technology to manage decentralized financial applications and contracts. This means that Ethereum represents the utility of the digital world beyond the monetary revolution.
Ethereum was launched in 2015. and has become the largest decentralized platform in the world, allowing the development of applications and smart contracts without the intervention of third parties. These apps require Ether, the native cryptocurrency of the Ethereum network, to function. Ethers can be bought and sold; For example, you can now request from ethereum precio Argentina.
In addition, these ethers (the cryptocurrency of the ethereum system) are necessary to activate commands on the Ethereum platform, and developers use them to develop and program applications.
You need to understand that the Bitcoin and Ethereum networks are different in nature and functionality. Bitcoin was created as an alternative to national currencies, thus acting as a medium of exchange and a haven of value. In other words, its blockchain is limited to sending and receiving transactions.
The Ethereum network, on the other hand, was born with the idea of leveraging digital capital, focusing on decentralized finance (DeFi), smart contracts, and non-fungible tokens (NFTs). It is also used as a digital currency for payments or as a store of value, a cryptocurrency that you can buy from CryptoMkt Argentina or another reliable broker in Argentina.
Continuing the characteristics of each network, unlike Bitcoin, the supply of Ether is unlimited, despite the fact that 18 million are launched every year.
In the past, both Bitcoin and Ethereum used a consensus protocol called proof-of-work, which involves solving cryptographic problems (mathematical equations) that consume a lot of energy and computation and aim to validate transactions on the said network in exchange for a reward. for miners. Now with the (Eth 2.0) update, Ethereum uses the so-called Proof of Stake, which provides greater scalability and security, and further reduces the energy cost of confirming transactions. (You can see how Ethereum keeps adding improvements).
Ethereum serves huge business functions and its value is determined by its utility, in addition to being used as a store of value. Bitcoin, on the other hand, depends on its acceptance and use as a store of value.
In short, both are of great interest because both are a digital universe and a new way of understanding the world, economy and technology. True, Ethereum has a lot of room to maneuver, and everything that is known about its capabilities is only the tip of the iceberg. Bitcoin, on the other hand, will always remain the king of the crypto world and the origin of all that is known and yet to be known in the crypto world.