Ethereum vs bitcoin page #16239
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Ethereum vs bitcoin page #16239
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Co-authored-by: wackerow <[email protected]>
…tributors component
Co-authored-by: wackerow <[email protected]>
…m/ethereum-org-website into what-is-ethereum-network
… founders and Ethereum network pages
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
Co-authored-by: wackerow <[email protected]>
…hat-is-ethereum-network
wackerow
reviewed
Sep 18, 2025
| "page-ethereum-vs-bitcoin-bitcoin-section-1": "Bitcoin is a decentralized digital currency network. It was <strong>created in 2009</strong> by an anonymous developer using the name <strong>Satoshi Nakamoto</strong>, shortly after the 2008 financial crisis. The idea was for Bitcoin to be a peer-to-peer electronic cash system.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-2": "Bitcoin allows anyone to <strong>send and receive bitcoins</strong> over the internet <strong>without relying on a central authority</strong> like a bank. All transactions are recorded on a public ledger known as the blockchain.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-3": "Bitcoin introduced a concept known as proof of work to secure its network. In simple terms, computers around the world race to solve cryptographic puzzles that let them validate transactions and add new blocks. These specialized computers are called miners and they are rewarded with new bitcoin.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-4": "<strong>Bitcoin has a fixed supply of 21 million coins</strong>. This design choice is a key reason why Bitcoin is often referred to as digital gold.", |
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| "page-ethereum-vs-bitcoin-bitcoin-section-4": "<strong>Bitcoin has a fixed supply of 21 million coins</strong>. This design choice is a key reason why Bitcoin is often referred to as digital gold.", | |
| "page-ethereum-vs-bitcoin-bitcoin-section-4": "<strong>Bitcoin has a fixed max supply of 21 million coins</strong>. This design choice is a key reason why Bitcoin is often referred to as digital gold.", |
| "page-ethereum-vs-bitcoin-bitcoin-section-3": "Bitcoin introduced a concept known as proof of work to secure its network. In simple terms, computers around the world race to solve cryptographic puzzles that let them validate transactions and add new blocks. These specialized computers are called miners and they are rewarded with new bitcoin.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-4": "<strong>Bitcoin has a fixed supply of 21 million coins</strong>. This design choice is a key reason why Bitcoin is often referred to as digital gold.", | ||
| "page-ethereum-vs-bitcoin-ethereum-section-title": "Ethereum - a quick primer", | ||
| "page-ethereum-vs-bitcoin-ethereum-section-1": "Like Bitcoin, Ethereum is also a decentralized blockchain network, but it was <strong>designed to do more than just record payments</strong>. Launched in <strong>2015</strong> by a software developer called <strong>Vitalik Buterin</strong> and his co-founders, Ethereum was built to be a smart contract and decentralized application platform.", |
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smart contract and decentralized application
Same thing?
| "page-ethereum-vs-bitcoin-bitcoin-section-title": "Bitcoin - a quick primer", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-1": "Bitcoin is a decentralized digital currency network. It was <strong>created in 2009</strong> by an anonymous developer using the name <strong>Satoshi Nakamoto</strong>, shortly after the 2008 financial crisis. The idea was for Bitcoin to be a peer-to-peer electronic cash system.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-2": "Bitcoin allows anyone to <strong>send and receive bitcoins</strong> over the internet <strong>without relying on a central authority</strong> like a bank. All transactions are recorded on a public ledger known as the blockchain.", | ||
| "page-ethereum-vs-bitcoin-bitcoin-section-3": "Bitcoin introduced a concept known as proof of work to secure its network. In simple terms, computers around the world race to solve cryptographic puzzles that let them validate transactions and add new blocks. These specialized computers are called miners and they are rewarded with new bitcoin.", |
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| "page-ethereum-vs-bitcoin-bitcoin-section-3": "Bitcoin introduced a concept known as proof of work to secure its network. In simple terms, computers around the world race to solve cryptographic puzzles that let them validate transactions and add new blocks. These specialized computers are called miners and they are rewarded with new bitcoin.", | |
| "page-ethereum-vs-bitcoin-bitcoin-section-3": "Bitcoin introduced a concept known as proof-of-work to secure its network. In simple terms, computers around the world race to solve cryptographic puzzles that let them validate transactions and add new blocks. These specialized computers are called miners and they are rewarded with new bitcoin.", |
(On the "What is the Ethereum network?" page draft we used "proof-of-work" as well)
Technically Bitcoin did not introduce the concept of proof-of-work... Bitcoin took three main existing concepts and put them together in a novel way: proof-of-work for Sybil resistance, public-key cryptography for identification/authentication, and peer-to-peer networking.
https://en.bitcoin.it/wiki/Main_Page
Also, anyone can validate transactions without having to run a miner... bedrock of running your own node and "Don't trust, verify."
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Churning hashes (mining) takes energy which is akin to the "stake" that is used in PoS systems... to earn the right to propose a block (how does a network without a centralized authority decide who gets to propose blocks?), there must be proof that they've sacrificed some other form of value. In PoS, the "cost" is an opportunity cost of locking up value, and the risk that it could be taken if rules are broken. In PoW, the cost is the hardware itself and the consumed energy.
| "page-ethereum-vs-bitcoin-ethereum-section-2": "Ethereum lets anyone send and receive value like Bitcoin, but it also acts as <strong>a platform that anyone can use to run programs</strong>. Instead of this computer running on a single server, the Ethereum network runs across thousands of nodes and is not controlled by a single entity.", | ||
| "page-ethereum-vs-bitcoin-ethereum-section-3": "Anyone can create and deploy programs to this shared computer, and they will run exactly as written. These programs are called <strong>smart contracts</strong>, and they are Ethereum's core innovation.", | ||
| "page-ethereum-vs-bitcoin-ethereum-section-4": "Once triggered, the code runs automatically without human interference. This makes it possible to build apps for things like lending, trading, games, and digital collectibles that run all day, every day, for millions of users worldwide.", | ||
| "page-ethereum-vs-bitcoin-ethereum-section-5": "In the same way bitcoins are used to pay transaction fees on the Bitcoin network, Ethereum's native currency, Ether, is used to pay transaction fees, publish and use smart contracts, and secure the network. <strong>Ether acts both as fuel for running programs and as a store of value</strong>, so it is sometimes referred to as digital oil.", |
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| "page-ethereum-vs-bitcoin-ethereum-section-5": "In the same way bitcoins are used to pay transaction fees on the Bitcoin network, Ethereum's native currency, Ether, is used to pay transaction fees, publish and use smart contracts, and secure the network. <strong>Ether acts both as fuel for running programs and as a store of value</strong>, so it is sometimes referred to as digital oil.", | |
| "page-ethereum-vs-bitcoin-ethereum-section-5": "In the same way bitcoins are used to pay transaction fees on the Bitcoin network, Ethereum's native currency, ether, is used to pay transaction fees, publish and use smart contracts, and secure the network. <strong>Ether acts both as fuel for running programs and as a store of value</strong>, so it is sometimes referred to as digital oil.", |
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| "page-ethereum-vs-bitcoin-differences-table-row-3-1": "Supply", | ||
| "page-ethereum-vs-bitcoin-differences-table-row-3-2": "Fixed at 21 million", | ||
| "page-ethereum-vs-bitcoin-differences-table-row-3-3": "Dynamic with a burn mechanism", |
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Careful with "supply" vs "max supply"...
ETH is burned every block proportional to activity/demand, and issued every epoch proportional to total ETH staked. No fixed limit, but the rate of issuance is limited by total ETH staked.
BTC is issued every block at a fixed/predetermined rate dictated by the original and unchanged protocol, with an eventual fixed limit of ~21 million.
| "page-ethereum-vs-bitcoin-differences-table-row-4-2": "Proof-of-work", | ||
| "page-ethereum-vs-bitcoin-differences-table-row-4-3": "Proof-of-stake", | ||
| "page-ethereum-vs-bitcoin-differences-table-row-5-1": "Speed", | ||
| "page-ethereum-vs-bitcoin-differences-table-row-5-2": "Around 60 minutes to finality", |
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There is no such thing as finality on Bitcoin, it's all probabilistic.
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perhaps:
"Considered by most to be irreversible after six blocks, averaging 60 minutes" or some piece of this
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I see this was commented on later in the page, feel free to ignore, or take with a grain of salt
| "page-ethereum-vs-bitcoin-usecases-and-adoption-4": "Institutional adoption reflects these differences. Bitcoin the cryptocurrency is widely held as a long-term store of value, while <strong>Ethereum is seen as decentralized infrastructure</strong>. Its programmability appeals to fintech platforms and payment providers.", | ||
| "page-ethereum-vs-bitcoin-usecases-and-adoption-5": "Learn more about <what-is-ethereum>what Ethereum is used for</what-is-ethereum>.", | ||
| "page-ethereum-vs-bitcoin-monetary-policy-title": "Monetary policy", | ||
| "page-ethereum-vs-bitcoin-monetary-policy-1": "Bitcoin's supply is capped at <strong>21 million coins</strong>. This hard limit is enforced by the protocol and is one of the reasons Bitcoin is compared to gold. New bitcoins enter circulation through <strong>mining rewards</strong>, which are <strong>cut in half roughly every four years</strong> in an event called <strong>the halving</strong>. The reward started at 50 bitcoins per block in 2009, dropped to 25 in 2012, then 12.5 in 2016, and so on.", |
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If we want to be specific, it halves every 210,000 blocks, which explains why it's not actually every four years.
| "page-ethereum-vs-bitcoin-monetary-policy-1": "Bitcoin's supply is capped at <strong>21 million coins</strong>. This hard limit is enforced by the protocol and is one of the reasons Bitcoin is compared to gold. New bitcoins enter circulation through <strong>mining rewards</strong>, which are <strong>cut in half roughly every four years</strong> in an event called <strong>the halving</strong>. The reward started at 50 bitcoins per block in 2009, dropped to 25 in 2012, then 12.5 in 2016, and so on.", | ||
| "page-ethereum-vs-bitcoin-monetary-policy-2": "At this rate, the last bitcoin is expected to be mined around the year 2140.", | ||
| "page-ethereum-vs-bitcoin-monetary-policy-3": "<strong>Ethereum does not have a fixed supply cap</strong>. Instead, its issuance is determined by protocol rules, and recent upgrades have introduced mechanisms that can reduce supply over time. The most notable is the EIP-1559 upgrade, which burns a portion of transaction fees. When <strong>network activity is high, more ETH can be burned</strong> than issued, making the supply deflationary during those periods.", | ||
| "page-ethereum-vs-bitcoin-monetary-policy-4": "The two approaches reflect different priorities. Bitcoin's fixed supply appeals to those who want predictability and scarcity. Ethereum's more flexible model supports ongoing network incentives and development, while still introducing mechanisms to manage supply growth.", |
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May be worth noting that Ethereum's approach guarantees a security budget in perpetuity, i.e., rewards for those securing the network. Bitcoin issuance will eventually be zero, reliant entirely on fees.
| "page-ethereum-vs-bitcoin-usecases-and-adoption-2": "<strong>Ether</strong> serves as a store of value too, but its <strong>primary role is to power a broad ecosystem of applications</strong> and assets. Developers can use Ethereum to create new protocols, launch tokens, run decentralized exchanges, mint NFTs, build games, and develop social platforms that run without centralized control.", | ||
| "page-ethereum-vs-bitcoin-usecases-and-adoption-3": "Ethereum supports thousands of decentralized applications (dapps) for new forms of finance, crowdfunding, and digital ownership. Some use cases even connect both networks. For example, <strong>Bitcoin can be “wrapped” and used on Ethereum</strong> for activities like lending, borrowing, and trading in DeFi.", | ||
| "page-ethereum-vs-bitcoin-usecases-and-adoption-4": "Institutional adoption reflects these differences. Bitcoin the cryptocurrency is widely held as a long-term store of value, while <strong>Ethereum is seen as decentralized infrastructure</strong>. Its programmability appeals to fintech platforms and payment providers.", | ||
| "page-ethereum-vs-bitcoin-usecases-and-adoption-5": "Learn more about <what-is-ethereum>what Ethereum is used for</what-is-ethereum>.", |
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| "page-ethereum-vs-bitcoin-usecases-and-adoption-5": "Learn more about <what-is-ethereum>what Ethereum is used for</what-is-ethereum>.", | |
| "page-ethereum-vs-bitcoin-usecases-and-adoption-5": "<what-is-ethereum>Learn more about what Ethereum is used for</what-is-ethereum>.", |
…t in Ethereum vs Bitcoin page
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Description
Adds /ethereum-vs-bitcoin page
Note: branched off of #16238
https://deploy-preview-16239--ethereumorg.netlify.app/ethereum-vs-bitcoin/