Given that Bitcoin was the first cryptocurrency to surface in the market, the other digital currencies that emerged are referred to as altcoins.Ī blockchain is a digital ledger recording cryptocurrency transactions, maintaining records referred to as ‘blocks’ in a linear, chronological order. The term ‘altcoins’ is short for alternative coins. Decentralized applications will never go down and can never be switched off.

They are also corruption and tamper proof, making censorship impossible, and are secure against hacking attacks and fraudulent activities. WHAT ARE THE BENEFITS OF ETHEREUM DECENTRALIZED PLATFORM?ĭecentralized applications benefit from immutability, ensuring that no third party will interfere with data. A decentralized application serves some particular purpose to its users. As opposed to mining for bitcoin, in the Ethereum blockchain, miners work to earn Ether.Įthereum enables developers to build and deploy decentralized applications. The bitcoin blockchain is used to track ownership of digital currency, while the Ethereum blockchain focuses on running the programming code of any decentralized application. WHAT IS THE DIFFERENCE BETWEEN ETHEREUM AND BITCOIN? Ethereum runs smart contracts, which allow a higher level of protection from downtime, censorship, fraud or third party interference.Įther is a tradeable cryptocurrency, used by application developers to fuel the Ethereum network. Ethereum is a public blockchain platform that allows developers to build and deploy decentralized applications.

Bitcoin and ethereum charts