What is Ethereum?
Ethereum is a blockchain-based distributed platform. The network currency of Ethereum is known as Ether (ETH). Here also, the transactions are stored in an immutable distributed ledger.
- Ethereum is designed to be scalable, decentralized, and programmable.
- It provides a flexible platform to build applications using the solidity scripting language.
- Transactions are sent and received in user-created Ethereum accounts.
- It is a blockchain-based platform With the cryptocurrency Ether(ETH).
Difference Between Bitcoin and Ethereum
Bitcoin is a digital currency that can be transferred on a peer-to-peer (P2P) network without the need for any central authority. It was invented by a person or group of people with the name Satoshi Nakamoto in 2008. All the transactions are stored in an immutable distributed ledger.
- Bitcoin is created, stored, transacted, and distributed using a decentralized, distributed system known as Blockchain.
- A public ledger records all the transactions of the Bitcoin and copies are retained on all the servers around the world.
- It is not necessary to buy an entire bitcoin, one can buy only a fraction of it if that is all necessary.
- BTC is the abbreviation for Bitcoin.
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