Despite being the original blockchain currency, bitcoin does not yield the same potential that does Ethereum and its Ether. The best way to describe one is like monetary blockchain while latter being general purpose blockchain. That is since Ethereum is exploiting all of the blockchain potential while bitcoin is limited to one specific. We are dedicating our following article to share some of the views on why Ethereum is better than bitcoin. Turing-complete Language! Bitcoin is written in a stack based language while Ethereum is written in the Turing-complete language. This means that given enough of time and computing resources you can program Ethereum to do whatever you want. Bitcoin on the other hand is limited to only financial transactions or simply for transferring value across the wide-web. This is one of the biggest reasons why Ethereum beats bitcoin. Wider market to reach out to. As we noted above Ethereum has potential to do whatever you want it to do and this means that you can reach out to much larger market than it is with bitcoin. Slock.it is developing application which would unlock after a payment criteria has been met, basically this apparatus will allow you to pay for a hotel then show up at the door, wave your phone and voila you are accommodate for your stay. Convenience is the key word that pops into our head when reading this. ethash – more competitive mining market and shorter block times Bitcoin is using sha-256 in order to do its hashing, main power coming from ASIC chips turns bitcoin mining into more of a concentrated mining. Ethereum using ethash which means it just needs memory in order to run and thus making it much easier for smaller projects to get into crypto mining. That alongside with ghost protocols allows ethereum transactions to be confirmed much more quicker than its parent bitcoin. While it takes around ~10 minutes to confirm a BTC transaction then usually it takes around ~30 seconds for Ethereum to do the same. Meaning that with Ethereum your funds are available for use much more quicker than with bitcoin. Ethereum’s Economy & Plan. While currently all of the cryptocurrencies are working on the proof-of-work principle then Ethereum has much larger plans than this. The difference comes in from the economical plan of moving Ethereum over to proof-of-stake principle and same time has never changing reward model. This means that there is no reason to change fees that associate with Ethereum and thus making it much more economical for average user at the same time while keeping it at the same level for the miners. Besides that Ethereum’s supply is unlimited while bitcoin’s is limited. Decentralized Mining Pools! Thanks to ethash being memory based it means that a lot less resources and mainly memory is needed in order to found Ethereum blocks while ghost protocols allow it to happen in much quicker time span. This is taking decentralization to the new level since this type of model discourages centralized mining pools which we see happening with bitcoin due to it requiring way more computing resources to found blocks. We hope that this helps you to get the understanding how Ethereum is better than bitcoin. Despite both of these blockchain developments not being competitors per say there is nothing what bitcoin does that Ethereum cannot do but it so the other way around.
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Ethereum supply discovered on Mars! Elon Musk in chase to get the first loot!