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The Main Differences Between Bitcoin and Ethereum

Posted on August 5th, 2018 by EM Search Consulting

Ethereum and Bitcoin ATM locations in Atlanta and beyond continue to increase in popularity. They are two of the most popular cryptocurrencies that the market has to offer and they both utilize the blockchain technology. However, there are many differences between them that can be difficult to understand if you aren’t knowledgeable about the subject. Here are some main reasons how Bitcoin and Ethereum differ.

They Differ in Purpose

What is the end goal you want to achieve by investing in a cryptocurrency? This is something to keep in mind when deciding between Bitcoin and Ethreum. Bitcoin is an alternate currency that is increasingly used in buying or selling goods and services. On the other hand, Ethreum helps facilitate peer-to-peer contracts via its own currency vehicle. Thus, Ethreum focuses on smart contract applications while Bitcoin is a digital currency.

A Difference in Block Limit

The phrase “block limit” refers to the number of transactions that fit into a single block. Bitcoin has a block limit of 1 MB and the time it takes to create a new block on the blockchain is approximately 10 minutes. Thus, the Bitcoin network can handle about 3-4 transactions every second. On the other hand, Ethereum’s blockchain does not have a block limit, so the number of transactions is decided by the miners. One block is mined in 12-14 seconds and there are around 15 transactions per second.

Do you have more questions about Bitcoin versus Ethereum? Feel free to contact RockItCoin with any questions and visit our site if you want to see our Bitcoin ATM locations in Atlanta and the rest of the country.