Bitcoin and Ethereum are almost the same. There are many ways in which these currencies have similar qualities. When you look at them both are a form of digital currency. People use online exchanges to trade this currency. It is stored in wallets. Which are cryptocurrency wallets. Apart from the similarities there are many things that make them unique from each other.
When you trade in bitcoin then it means that it is going to provide you an alternative of fiat currency or physical currency. However, Ethereum is different. It is used to deal in smart contracts and applications that are decentralised. There will be a more tactical and complex infrastructure of the Internet in the future, which will come as web3.
Bitcoin
Satoshi Nakamoto introduced bitcoin in January 2009. At first bitcoin was taken as a mysterious idea on a white paper but after it came as a form of online currency. Which will not have any kind of authority from the central government or its currencies.
There is no physical shape of bitcoin. It only exists in the online world. The transactions related to bitcoin or recorded in a secure ledger. Over the past years this concept of a decentralised currency was accepted by the government personnel as well as the regulators. Right now it is known as a payment method between two parties or a value which holds a lot of storage in some countries.
But overall bitcoin was able to make way for itself. It has made a complete new niche out of itself. Thanks to the financial system of bitcoin the companies are regularly debated as well as working.
Etherium
The technology of Blockchain goes beyond the creation of applications and digital currency. Back in 2015 July Ethereum was launched. It is a software platform which is open-ended as well as decentralised. It has the most established platform. Developers can build and make smart contacts as well as applications which are centralised with no downtime with the help of Ethereum.
It does not have room for control or fraud. That means that no third-party can interfere with its transactions. Ethereum has a completely separate programming language. Its language is different and it runs on the Blockchain to maintain its value.
Bought these digital currencies have the networks which are backed by cryptography and digital ledgers. These principles are the same for each currency but the key difference is their transactions. Ethereum networks have chords which can be executed with the help of two parties; however the bitcoin network only records the information of the transaction and everything remains untouched.
Apart from these differences the block time of both Ethereum and bitcoin is completely different. The transaction of Ethereum happens within seconds while bitcoin takes some minutes.
