Differences Ethereum And Bitcoin - Some Fundamental Differences

Differences Ethereum and Bitcoin. Basically similar to Bitcoin. Equally as a decentralized cryptocurrency using peer-to-peer networks. And the creation of new digital coins is also done by doing mining.

However, in Ethereum there are some basic things that distinguish it from Bitcoin that more we know before. Here are some differences between Ethereum and Bitcoin:

Creation of Blocks

ETHEREUM: Average 1 block in 12 Seconds

BITCOIN: Average 1 block in 10 Minutes

Economics

ETHEREUM: Block Reward 5 Ethereum. The number of reward blocks will remain in each year. Since blocks can be created in a much faster time (12 seconds) there will be a high rate of inflation in the first few years. However it will experience further deflation. Reward blocks can remain in Ether because they still have 15.6 million units that can be excluded from the marginal increase in money supply.

BITCOIN: Block Reward is halved each reaching 210.00 Block within 4 years. Block Reward Bitcoin will be exhausted in 2140.

Transaction Fee

ETHEREUM: Depending on the computing power of each client. Included with bandwidth, and storage space needed in 1 block. This is called GAS in Ethereum.

BITCOIN: Not distinguished

Coding

ETHEREUM: Using Turing complete code. So there can be opportunities to send scripts with an infinite "loop". Based on computing power and time required.

BITCOIN: Do not use Turing Complete Code. More details about Turing Complet:

Establishment

ETHEREUM: Founded from crowdfunding. The first fundraising was conducted in mid-2014. The number is approximately 60 million ETH (60,102,216 ETH). Ether units released 1000-2000 Ether per BTC.
Later, 9.9% of the proceeds will be allocated to the Ethereum Foundation as initial contributor compensation.
A further 9.9% is used as long-term reserves. So the total number of coins before released there are 72 million.
This Ether currency will be released annually after the Genesis block reaches 26% in the initial funding phase, which amounts to 60 million ETH.
Later, the number of coins released per year will be constant as much as 15.6 million units of Ether. In five years, estimated in July 2020, new miners will reach 50% of what has been mined.

BITCOIN: Bitcoin was released from first, without crowdfunding.

Centralized Resistance

ETHEREUM: Ethereum can avoid pool-pool centralization because it runs the Ghost Protocol, and the consensus Proof of work Ethereum algorithm can be resistant to ASIC mining. So the miners will be more competitive on the mining tools they use. In Ethereum, the algorithm used is called Ethash.

BITCOIN: Has constraints and there is potential for centralized mining if pool mining succeeds in mining. Moreover, currently Bitcoin mining has been dominated by ASIC mining. So the diversity and competitive Bitcoin mining becomes less diverse.

Mining

ETHEREUM: Can be done with CPU and GPU Devices. Resistant to ASIC.

BITCOIN: Mining CPU and GPU can still be done, but currently more dominated by ASIC mining.

Orphan Block

ETHEREUM: The Orphan block in Ethereum is called Uncle. If the miner when finding the block successfully also finds uncle, it will get an additional reward.

BITCOIN: Called the orphan block. No effect in reward block.

Well, that's some differences that I can explain according to the basic knowledge that I know .. if this post useful please vote and resteem
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