Crypto Frontline

Ethereum vs. Bitcoin – Blockchain

Ethereum vs. Bitcoin – Blockchain

Ethereum vs. Bitcoin – Blockchain
November 03
22:03 2017

We must first begin by saying that the ethereum system works like a world computer and some of the key features it proposes are: secure communication, secure payments, free software under the GPL and transparent governance for communities.

How does the ethereum system work?

Very similar to bitcoin, ethereum uses the blockchain technology, which means all the financial transaction that is done in the ethereum system are not stored on a single server or computer, but distributed among a huge number of PCs across the globe, so there is no risk that the information will be lost completely.

What ethereum has special, is that you can actually execute the code on the blockchain in the same distributed way. So, instead of using the blockchain just as a ledger, you also specify the conditions under a certain person will be paid, and only when those conditions will be met, the money will go to that person, without any outside interference.

This program code is called “smart contract” because it represents an agreement that is able to execute itself.

Another difference between ethereum and bitcoin blockchain is that ethereum is not just keeping track of payments, it also keeps track of computer programs.

Ethereum has a various application, as compared with bitcoin and it could be used for anything you can write a computer program to do.

Some of the brand new features ethereum came with, is the decentralized structure, which had not been seen prior.

Given all the facts above, it truly represents a true rival for bitcoin.

Risk Warning and Disclaimer

Trading cryptocurrencies on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance.