HomeGuidesIan BalinaBitcoin vs Ether - Explained in 30 Seconds

Bitcoin vs Ether – Explained in 30 Seconds

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Just like Bitcoin, Ethereum is an open-source blockchain network. Although there are some differences between them, the most relevant distinction you must remember is that they have different purposes.

Bitcoin offers just a particular application of the blockchain technology and is designed as a peer-to-peer system that facilitates digital transactions. Ethereum, on the other hand, is a platform for running applications on a distributed network that allows smart contracts between individuals worldwide.

In the Bitcoin blockchain, miners work for bitcoins while in the Ethereum one, miners receive Ether, a digital asset that fuels the network. This currency can also be used to pay for services and transaction fees on the Ethereum network.

So, remember: Bitcoin and Ethereum have different purposes and fulfill different needs. As such, Bitcoin and Ethereum are separate protocols, so you can’t complete a transaction from one to another.

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