Bitcoin stands as the foremost, most talked about and arguably the best in the crypto currency society. Apart from being the first ever decentralized digital currency, it also operates a peer-to-peer transaction between users that takes place without any form of intermediaries. Within about six years of its launch the Bitcoin beats her chest as the crypto currency with the largest user base with over 10 million wallets.
It is also the most accepted by crypto currency merchants companies such as Amazon and McDonalds stressing on their payment system only through Bitcoin by the end of 2018. Furthermore, the Bitcoin holds the records of the digital currency that initiated and created the most infrastructures as it relates to cryptocurrency.
Bitcoin is also one of the best when it comes to privacy in transactions, charging of some of the lowest rates in transactions, international transactions and the most widely accepted payment method when compared to other cryptocurrencies.
However, with the Bitcoin standing as the most populated cryptocurrency network, it makes it one of the safe havens for scams and frauds since the brand is the most trusted, many theft and black market activities that tend to weaken the power and reputation of the bitcoin occurs regularly.
The Bitcoin also has a major weakness of inability to cancel transactions or make refunds on illegal or inaccurate transactions which puts a fear in the minds of over-cautions people from venturing into the scheme.
As a result of these, other crypto currency systems built on the weakness and used as a tool to woo investors in their platform even if is clear that they only built on the foundations of the Bitcoin and one of the altcoins that has done very well in its system, technology, operations and know-how is Ethereum.
According to the official Ethereum project, the “Ethereum is a decentralized platform for application that run exactly as programmed without any chance of fraud, censorship or third party interference. The Ethereum runs an open software system, which means that it is designed to be publicly accessible and as such enable individual developers to build and deploy decentralized applications.
Ethereum was started by a cryptocurrency researcher and programmer VitalikButerin in 2013. Vitalik originally published the Ethereum white paper in late 2013, but later in April 2014 the yellow paper was written through the help of Harin wood. And after that in order to gain funds Ethereum launched a campaign where Ethereum tokens were sold and Ether realized over $18 million.
The rapidity of the sales was what gave the Ethereum a great publicity and since then it has kept on growing in strength and number competing favourably with the almighty Bitcoin.
Today, the estimation of the total Ethereum cash has risen to 85billion dollars.. The compelling and distinctiveness of the Ethereum however, lies in the fact that unlike the bitcoin, the Ethereum goes beyond being just a digital currency. It is a highly technologically based ledger that is stronger than the Bitcoin’s ledger.
Ethereum unlike the Biotcoin has a good record of little or no corrupt or theft activities, it is easier to mine, has no limits in megabytes and above all the Ethereum can be used for raising funds through the use of smart contracts for raising funds. With the obvious increasing population attribute and distinct features posed by the Ethereum, and the frequent volatility of the Bitcoin, the persisting question remains “Is the Ethereum bigger, better or more viable and valuable than the Bitcoin?”
Even though a large number of cryptocurrency users are gradually shifting base to the use of ether, the reality still remains that the Bitcoin circulating value is 205 billion dollars as against Ether 85Billion. Ether is more suitable for business because of the technicality of its ledger (blockchain).
It therefore, suffices to say that the Bitcoin and the Ethereum can be likened to the Lion and the Tiger of the cryptocurrency world with Bitcoin as the Lion and Ethereum the Tiger basically because the Bitcoins is still the first and most popular and still very reliable.
Ethereum is not relenting in its technological and continuous development strive to use her distinct peculiarities to woo customers and gradually surge to the top of the list of biggest cryptocurrencies ahead of the Bitcoin.