Venmo is a free-to-use payment service and app that allows users to send and receive funds from contacts or friends and connects to users' bank accounts and credit or debit cards. BibleThe Bible is a collection of religious texts or scriptures sacred to Christians, Jews, Samaritans, Rastafari and others. It appears in the form of an anthology, a compilation of texts of a variety of forms that are all linked by the belief that they are collectively revelations of God.
Back to Learning PortalEthereum and Bitcoin share many similarities. In this article, we’ll try to highlight the most fundamental differences between them.
The biggest difference is the purposes or ultimate goals of these projects.
Bitcoin aims to be a store of wealth, a digital gold if you will, and eventually become a globally adopted currency which could improve or replace conventional money to some extent. The purpose of Ethereum is to become a platform upon which smart contracts and decentralised apps can run.
Another important difference is the supply. Where the number of Bitcoin is capped at 21 million ever to be produced, Ethereum is not capped to any specific quantity. Both Bitcoin and Ethereum are produced in a process called mining. There are plans to shift Ethereum production to a proof of stake model, which should be more environmentally friendly than mining. More information on proof of stake can be found in the links below.
There are several technical differences in the technologies that underpin the Bitcoin and Ethereum platforms but at this early stage of these projects, they may seem very much alike. As these projects grow and mature, however, the differences may become much more apparent and could affect their trajectories quite differently.