What is the difference between Bitcoin and Ethereum? - ProProfs Discuss
Advertisement

What is the difference between Bitcoin and Ethereum?

Asked by Denton Perez, Last updated: Nov 06, 2020

+ Answer
Request
Question menu
Vote up Vote down

1 Answer

C. Block

C. Block

Find happiness in writing new things.

C. Block
C. Block, English Professor, M.A, Ph.D, Buffalo

Answered Mar 23, 2020

Bitcoin and Ethereum are the two most common examples of digital currencies or cryptocurrencies out there. Both use a form of a decentralized system in helping users invest and save their money without any bank or administrator supervising it. Bitcoin is the first cryptocurrency to be created, whereas Ethereum was credited sometime in 2013. There are a lot of differences between the two.

First, Ethereum was created by Vitalik Buterin, while bitcoin was invented by a group of individuals with Satoshi Nakamoto as their group name. One of the ways to differentiate between the two is that Bitcoin uses every ten minutes, creating new blocks, while Ethereum uses 15 minutes.

This simply means that for every 10 minutes, bitcoin creates about 12.5 new coins, whereas Ethereum uses every 15 minutes to create three new coins. Ethereum has no limit as to how many coins it can create, whereas bitcoin has a limit of 21 million coins.

upvote downvote
Reply 

Advertisement
Advertisement
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader

Email Sent
We have sent an email to your address "" with instructions to reset your password.