Ethereum

The main competitor of Bitcoin is Ethereum cryptocurrency. Platforms are similar in many ways, but there is a number of significant differences. The author of Ether is Vitaly Buterin, a Canadian programmer. He followed the development of the cryptocurrency community with interest since 2011. Buterin began to work on his own project in 2014. In a short time, the author managed to attract a record of 31 thousand Bitcoin. At that time, it was equivalent to 18 million USD. The project also attracted the attention of many financial organizations. Its partial launch occurred in 2015. Full-fledged work on the new platform began a year later. The rapid development of the Ethereum community began from that moment.

Platform features

Ethereum technology has significant differences from Bitcoin, and in the opinion of many experts surpasses it. The main advantage of Ethereum is smart contracts that allow you to enter into transactions using various financial instruments. This is the main feature of Ethereum.

The advantages of cryptocurrency can also be attributed to the high productivity of mining and fast transactions. The platform quickly generates new blocks, allowing you to steadily earn money on coin mining.

Ethereum project purpose

There is an opinion that Ethereum was developed to create a cryptocurrency that does not have the disadvantages of Bitcoin. However, Ethereum cannot be attributed to the clones of “digital gold”. By popularity, the coin is in second place after Bitcoin.

The launch of Ethereum is associated with a boom in the cryptocurrency market, which was observed from 2016 to 2017. At this time, the maximum number of startups in the field of digital money, which managed to attract a huge amount of investment, was noted. Currently, Ethereum is one of the most promising cryptocurrencies.

Prospects and usage scope

Due to its advantages, Ethereum became one of the most popular electronic coins. The platform is used to store assets, as a means of payment and an investment platform. The system is the basis for the development and creation of blockchain-based decentralized applications.

EVM

The platform is adapted for the use of various programming languages. This feature makes it flexible and significantly increases the versatility of the project. This effect was achieved through the introduction of the Ethereum virtual machine – EVM. This is a kind of Turing machine that compiles smart contracts into code written in Blockchain. The advantage is that the Ethereum network provides all the necessary power to calculate

Differences between Ethereum and Bitcoin

Ethereum and Bitcoin have certain similarities. Both platforms are based on blockchain technology. At the same time, BTC has little functionality and limited scope. Constant complexity of Ethereum, which Bitcoin does not have, can be added to this.

The key purpose of BTC – transactions with high indicators of anonymity. Bitcoin is a financial tool with versatility and decentralization.

Ethereum is a platform designed to run decentralized applications based on smart contracts technology. Ethereum has a wider usage scope than Bitcoin.

The main advantages of ETH include universality, accessibility, flexibility and publicity. Ethereum is traded on all cryptocurrency exchanges. This coin is considered one of the most perspective and promising. It is a favorite tool of many cryptocurrency exchange speculators.