Bitcoin started its journey in 2009 when its initial value was around one cent per Bitcoin. In 2010 it rose to $1 and since then the value has risen to $64,000 in a remarkable journey. The same was the case with Ethereum. Ethereum is a blockchain based open source platform that is used to share and create a business, financial services, and also entertainment applications. Fees are paid by the Ethereum users to use dapps (Decentralized apps). Ethereum has its own digital currency known as Ether or ETH. Ethereum is in good competition with BItcoin in the cryptocurrency market. In this article, we will discuss Bitcoin vs Ethereum performance.
Ethereum Chart Vs Bitcoin Chart
Seeing the basic parameters of Bitcoin vs Ethereum performance, this Bitcoin vs Ethereum growth chart can help to clear out some confusion regarding both the cryptos.
|Launch Date||January 2009||July 2015|
|Intended Purpose||Medium of exchange/store of value||Programmable smart contracts, platform for immutable|
|Consensus Algorithm||Proof of work (SHA-256)||Proof of work (Ethash)|
|Max Supply||21 million||unlimited|
Bitcoin Vs Ethereum Performance
Ethereum and Bitcoin are the two world’s top digital currencies in terms of the total market capitalization. So the Bitcoin vs Ethereum comparison chart can be confusing as both are best in their own niches. Let us have a look at the Bitcoin vs Ethereum performance.
Let us see what are the differences between Bitcoin and Ethereum that led to the creation of Ethereum.
- Supply: In the case of Bitcoin there will be no more than 21 million Bitcoin that is expected to run till 2140. At the same time, the supply of Ethereum is unlimited. Having said that, the formulation of new coins is highly controlled to keep a check on inflation.
- Standardization Method: Ethereum has been successful in developing its own standards in the industry. They are known as ERC20. This acts as a set of measurements for digital currencies to enable high compatibility among various currencies.
- Market cap value: Even though the exact value keeps on changing frequently but in terms of market capitalization Bitcoin is always above every single cryptocurrency in the market.
- Crypto price: In the Bitcoin vs Ethereum price chart the value of Bitcoin is always higher than that of Ethereum.
1 Bitcoin = $39,476.069 and 1 Ethereum = $2500.7659
Other than the programming, Bitcoin vs Ethereum performances have many similarities among them.
- Both are valuable: It is true that we divide Bitcoin and Ethereum as Ni.1 and 2 coins respectively based on their market capitalization. but both these eth/btc predictions conclude that both the coins are equally valuable.
- Both are popular: Even after the advent of thousands of cryptocurrencies in the market, Bitcoin and Ethereum do not lose their popularity. They still remain as the most widely used crypto coins in the world.
- Both use proof of work mining: Mining refers to the process of how transactions are carried out on a block chain. During the time when Ethereum and Bitcoin were formulated, proof of work was the only way in which all the transactions were handled. In recent times all coins do not use proof of work and some digital currencies do not need mining at all.
Scalability: Bitcoin vs Ethereum Performance
All these years, bitcoin has had other difficult forks that were specifically formulated to solve its scaling problem.
The Ethereum fork was formulated to add smart contracts. But other difficult forks were formulated to enable transactions faster and cheaper, to help accommodate all the added users that were arriving, such as Bitcoin Cash and Litecoin.
The above Bitcoin vs Ethereum comparison chart suggests that Bitcoin is a first mover as it is the very first crypto in the world. But in this Bitcoin vs Ethereum performance, it can be concluded that Ethereum is no less. It carries equal value and prestige as Bitcoin.