What is Bitcoin?

Bitcoin is a digital form of cash. It was the first cryptocurrency and began using in 2009. Bitcoin’s creator uses a pseudonym, Satoshi Nakamoto, but no one knows who Satoshi Nakamoto is, or even a person or an organisation.

Bitcoin's white paper is "Bitcoin: A Peer-to-Peer Electronic Cash System." Bitcoin is a blockchain payment system and virtual pricing tool. Because it uses cryptographic technology to control the production and transfer of currency, there is no central issuing agency and cannot be arbitrarily issued. The total amount of Bitcoin is limited to only 21 million in total.

Put, Bitcoin is a cryptographic currency that can apply to payment, transfer and other functions. This technology is called blockchain 1.0. Its technology also makes it difficult to be stolen or tampered with since all machines on the decentralised network need to agree on the terms of any transaction. Bitcoin network is like a global online bank. Bitcoin users have their network address, which is composed of symbols. The address is like a bank account; people can send and receive Bitcoin through the network address.

What is Ethereum?

Ethereum is a decentralised platform. Ether (ETH), the currency used to complete transactions on the Ethereum network. Ethereum was proposed in 2013 by Vitalik Buterin. The main idea behind Ethereum is that developers can create and launch code on a distributed network instead of existing on a centralised server.

Ethereum Whitepaper” A Next-Generation Smart Contract & Decentralized Application Platform.” It promotes the application on the blockchain and creates intelligent contracts and decentralised applications. In addition, there is no limit to the amount of Ether that can be released, but a maximum of 18 million are released each year. Ethereum begins with Smart Contracts and decentralised applications (Dapps). The technology is called blockchain 2.0. Ethereum is like IOS system or Android system. People can create decentralised applications (Dapps) or Smart Contract on the system. You must pay by their native cryptocurrency(Ether) of the platform in the creation process.