$BTC , launched in January 2009, was the first digital asset to be introduced. It was designed as a digital currency that operates independently of any central authority. Bitcoin is sometimes referred to as digital gold due to its perceived scarcity and durability. It primarily serves as a store of value and a medium of exchange, facilitating transactions without the need for a central authority. Bitcoin transactions are mainly monetary, with blocks added to the blockchain approximately every 10 minutes. Bitcoin uses a consensus algorithm called "Proof-of-Work" (PoW) to broadcast, store, and confirm transactions.

Understanding Ethereum

Ethereum, on the other hand, is more than just a digital asset. It is a decentralized platform that enables the development and execution of smart contracts and decentralized applications (dapps), with its native digital asset, Ether, being used to power these operations. Ethereum allows for transactions that contain executable code, enabling the creation of smart contracts and dapps. Blocks on the Ethereum network are added roughly every 15 seconds, which aims to facilitate quicker transactions than Bitcoin. Ethereum has started its transition to a consensus mechanism called "Proof of Stake" (PoS) with the launch of the Beacon Chain in December 2020, but the full transition is not yet complete as of 2022.

Key Differences between Bitcoin and Ethereum

While both Bitcoin and Ethereum operate on blockchain technology with a focus on decentralization, they aim to serve different purposes. Bitcoin is primarily a store of value, while Ethereum is functional, enabling the execution of applications and smart contracts. Bitcoin is sometimes described as 'digital gold' and Ethereum as 'digital silver'. Bitcoin is seen as a decentralized value store and less volatile, as well as known for its fixed supply. Ethereum, with more functions, has higher transaction activity,

in which coin did you trade today?