Bitcoin Vs Ethereum : Battle for the Top Spot

 

    Buz Investors Best Digital Currencies Digital  currencies have proved lucrative for tech-wise traders, but where should  you put your money in 2017: Ethereum or Bitcoin? Both  the Ethereum value and the Bitcoin value skyrocketed in recent years. In  order to figure out which of them is headed for a repeat performance,  we need to take a closer look at what each cryptocurrency brings to the  table. Bitcoin is obviously the biggest player in town. It has become the  public face of digital money, which gives it a leg up over Ethereum. The  increased exposure resulted in Bitcoin’s massive market cap, its  ascendancy to safe haven status, and its vast library of third party  apps.

 BITCOIN HISTORY & BITCOIN PREDICTION 2017 

Late in 2008, a mysterious paper was posted online under the name  Satoshi Nakamoto. No one quite knew who this person was, where he lived,  or what his credentials were. But he laid out a blueprint for what  would become the Bitcoin platform we know and use today. (Source: “The  Rise and Fall of Bitcoin,” Wired, November 23, 2011.)

 The paper was titled “Bitcoin: A Peer-to-Peer Electronic Cash  System.” Two months after it was first published, Nakamoto released the  first version of the Bitcoin platform that allowed for users to mine a  total of 21 million bitcoins by the year 2040. The first block of  Bitcoin, known as the “Genesis Block,” was mined. Then the first  transaction took place. The wheels were turning. 

What happened over the next few years was remarkable. Ambitious  entrepreneurs joined the Bitcoin community and started mining, launching  Bitcoin exchanges, and adding vendors to the platform. They had two  goals in mind: 

ETHEREUM FEATURES & ETHEREUM FORECAST 2017 

The Ethereum Project came into existence much after Bitcoin. At  first, a lot of people wrote it off as “just another Bitcoin imitator,”  but then they realized this cryptocurrency has some truly unique  features. These features-smart contracts and the Decentralized  Autonomous Organization-could help Ethereum attract more users and  developers, thus causing its price to explode. But before we slap a price target on Ethereum, you should probably understand what makes these features so special. In the waning months of 2013, a young programmer named Vitalik  Buterin wrote a white paper on blockchain technology. He believed that  the technology could be used for more than just payments; in fact, he  argued that Bitcoin’s core technology has countless applications in  other fields. It shouldn’t be just a payments platform.

       ETHEREUM VS BITCOIN  

• Blockchainis a type, not a thing. Don’t be confused  by people saying things like, “Bitcoin payments are made over the  blockchain.” Such statements are casual references to the double-ledger  system that was pioneered with Bitcoin. There are dozens of  different blockchain networks right now, but they all model themselves  after the blockchain system that began with Bitcon. (Double-ledger  refers to the fact that every transaction is recorded simultaneously on  the thousands of computers that power the blockchain, making it open and  transparent.)
• Bitcoinwas the first blockchain-based digital  currency. It was groundbreaking for that reason, but also for  envisioning a new financial order. The code was designed to unlock a  finite amount of Bitcoin units at a predictable rate. In other  words, Bitcoin promised to preserve the purchasing power of its digital  currency by constraining supply.
• Ethereumis the most serious threat to Bitcoin. Not  only has this currency jumped 688.89% during the last two years, but  it’s also expanded the capability of blockchain tech. It has introduced  new ideas like smart contracts and the Decentralized Autonomous  Organization. But more on that later.