#BTCvsETH
Bitcoin (BTC) and Ethereum (ETH) are among the most prominent cryptocurrencies and the largest by market capitalization, each serving different purposes and functions. Here’s a brief comparison between them:
Bitcoin (BTC):
Primary Purpose: Bitcoin is primarily considered "digital gold" or a store of value. It is designed to be a decentralized digital currency and a peer-to-peer (P2P) payment system.
Scarcity: The maximum supply of Bitcoin is only 21 million coins, making it scarce and contributing to its value.
Consensus Mechanism: It uses a Proof of Work (PoW) mechanism to secure the network and validate transactions.
Speed and Cost: Bitcoin transactions are generally slower and more expensive compared to Ethereum, especially during times of congestion.
Ethereum (ETH):
Primary Purpose: Ethereum is a programmable blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). Ether (ETH) is the native currency of the Ethereum network, used to pay transaction fees (gas fees) and run applications.