Bitcoin vs Ethereum - why you should invest in ethereum 2018

Bitcoin vs ethereum, invest in ethereum, why you should invest in ethereum 2018, bitcoin, ethereum, invest, 2018
There are many misconceptions among people regarding bitcoin and ethereum. The two are not similar. Bitcoin is a digital currency or a cryptocurrency while ethereum is a public blockchain platform for the execution of decentralized smart contracts. However, Ethereum also has its own cryptocurrency called Ether which is definitely comparable to Bitcoin. So the question should be, "What's the difference between Ether and Bitcoin?" Although, the same term, Ethereum is often used for both. For example, Ether mining and ethereum mining are valid keywords. Before talking about why you should invest in ethereum in 2018, let's quickly go through the myths and facts between these two cryptocurrencies.

The myth
Ethereum is a kleptocurrency supported by bankers designed to compete with Bitcoin.There are many altcoins that have better fundamentals, like Ethereum Classic for example.What Ethereum does is a seamless support of companies.Bank cartels have late realized the threat posed by Bitcoin and Ethereum is their attempt to remedy the situation.Bitcoin was a free gift offered for the improvement of humanity.Ethereum is a business offer designed from the outset to extract the maximum value from its user base.

The Facts

• The interesting thing about Ethereum is that it was not just a bitcoin clone. Ethereum was a top-down rewrite of blockchain software, created by Vitalik Buterin and the Ethereum team.

 The reason they rewrote the software was to create a platform for decentralized services, allowing other organizations to freely create smart contracts. No other blockchain (at that time) was able to handle that, so they had to build their own blockchain.

•The blocking time predefined in Bitcoin is 10 minutes while in Ethereum, the block time is 12 seconds. Therefore, while Bitcoin transactions normally take a few minutes to be cleared, Ethereum transactions are cleared almost instantly and in seconds.

• Based on purpose, As a store of value - The overall amount of BTC ever produced is limited which makes bitcoin similar to investing in gold. The supply of Ethereum is unlimited which makes ethereum more like investing in oil. Ethereum encourages decentralized mining by individuals using their GPUs.

• Both Bitcoin and Ethereum are very volatile, just like every cryptocurrency on the market. Both are under the constant influence of the market. Although supply and demand affect Bitcoin in many ways.

So why should I invest in Ethereum?

Ethereum happens to be the second largest cryptocurrency in the world after Bitcoin. In fact, it grows much faster than Bitcoin. BTC has experinced a significant growth of about 300% this year, whilst the ETH has seen a huge growth of about 4000%.

BTC is used as a way to store value, but due to transaction costs and slow network time, ETH is gaining more attention because smart miners often mine ethereum due to it swiftness and low cost of transaction, once the mining is done, they would convert the ETH to bitcoin and then store the value there.
Bitcoin vs Ethereum - why you should invest in ethereum 2018 Bitcoin vs Ethereum - why you should invest in ethereum 2018 Reviewed by sidex Jay on November 25, 2017 Rating: 5

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