Ethereum VS Bitcoin what's the difference 🤷.
Go Back🕒 6:02 AM
📅 May 07, 2025
✍️ By oluwafemighty
Ethereum and Bitcoin are both blockchain-based cryptocurrencies, but they serve different purposes and have key differences:
1. Purpose
i). Bitcoin was created as a digital currency to serve as an alternative to traditional money and a store of value.
ii). Ethereum is a decentralized platform designed to run smart contracts and decentralized applications (dApps).
2. Smart Contracts
i). Bitcoin has limited scripting capabilities.
ii). Ethereum was built with a Turing-complete programming language, allowing developers to write complex smart contracts and build entire apps on the blockchain.
3. Consensus Mechanism
i). Bitcoin uses Proof of Work (PoW).
ii). Ethereum initially used PoW but transitioned to Proof of Stake (PoS) in an upgrade known as The Merged in 2022.
4. Supply
i). Bitcoin has a fixed supply of 21 million coins.
ii). Ethereum has no fixed cap, but recent upgrades have introduced mechanisms (like EIP-1559) to burn fees, which can reduce supply over time.
5. Speed and Fees
i). Bitcoin has slower transaction times (around 10 minutes per block).
ii). Ethereum is generally faster (around 12 seconds per block), but gas fees can be high depending on network congestion.
In short: Bitcoin is digital gold; Ethereum is a decentralized world computer.
Hope you learned something new
Good luck guys 🤞 🫶