Bitcoin Cash & Ethereum: Differences And Similarities

We all know that Bitcoin Cash(BCH) and Ethereum (ETH) are belong to the top most popular crypto currencies in any exchanges. They are both most target of the investors and traders.They giving different functionalities and purposes in different ways.So, we are going to compare them for us to understand which among of them is the best crypto to invest with.

Bitcoin Cash is a crypto currency that is fork of Bitcoin. Is a spin-off altcoin that was created in 2017 according to Wikipedia. While the Ethereum is an open source,blockchain-based,decentralized softwareplatform used for its own cryptocurrency. It enables SmartContract and Distributed Application also know as Dapps to be built and run without any downtime,fraud, and interference from other third party.

Evolutions of The Two Cryptos

Ethereum

• Vitalik Buterin publishes the White paper of Ethereum in November 2013.

• They announced the development of the Ethereum in January 2014. It consist of the original developers named Vitalik Buterin,Mihai Alisie, Anthony Di lorio and Charles Hoskinson.

• The Ethereum’s ICO ends in August 2014 with their $18.4 million raises.

• They releases Ethereum testnet in May 2015(Olympic)

• The Ethereum’s first stage of development called “Frontier” was released in July, 30 2015.

• After “Frontier”, they released “stable” with a block of 1,150,000

• There was DAO hacking in June 2016, a $50 Million worth of Ether(15% of the total Ethereum) was hacked during that time.

• The metropolis Constantinople hard for was been updated.

Bitcoin Cash

• Bitcoin Cash’s fork is away from Bitcoin in August 1,2017.

• Bitcoin Cash(BCH) used to have upgrades to fix the DAA or Difficulty Adjustment Algorithm in November 13,2017.

• Bitcoin Cash’s blocks size was increased from 8MB to 32MB in May 15,2018.

• There was a bugs discovered in August 2018 but it resolved in the Main Bitcoin ABC software.

• Bitcoin Cash and Ethereum Comparisons Differences and Similarities.

Similiarities

They have both decentralized entities, they are both blockchain-based. Bitcoin Cash and Ethereum are both fuelled by the native coins the BTC and ETH. They can be used their ecosystem as an exchange of value.

Differences

Bitcoin Cash(Blocks Sizes)

• Bitcooin Cash reached the average block size of 3.97MB and 4.71 MB.

Ethereum(Blocks Sizes)

• Ethereum used gas instead of size. The blocks of Ethereum are capped by the amount of gas each of them can store up. Ethereum is limited by 6.7million of gas in each block. A one-on-one transactions can consume up to 21,000 units of gas.

Gas vs Transaction fees

Bitcoin Cash(Transaction Fee)

• In Bitcoin Cash, fees are too low. Also, if you want to have faster transaction, you can pay higher but its optional. Both low and high are the same when it comes to transactions and approval but different in transacton time.

Ethereum(Gas)

• If Bitcoin Cash uses transaction sytem, in Ethereum they uses gas system. Gas is a unit that measures the amount of computational effort that will take to execute certain operations.

Mining

Bitcoin Cash

• It uses Bitcoin’s SHA-256 hashing algorithm which can be performed efficiently with special mining hardware the application-Specific Integrated Circuit(ASICs).

Ethereum

• Ethereum use Ethash for its hashing algorithm, which is memory is intensive. Miners can quickly generate hashes stored in Ethereum Blockchain.

Purposes

Bitcoin Cash

• Is a medium of payment as simple as that while,

Ethereum

• Users can use its programming platform to facilitate smart contracts and its Dapps or Distributed Application.

Amazing things about Bitcoin Cash and Ethereum

Bitcoin Cash(BCH)

Protection against replay

• Bitcoin Cash uses a hash algorithm that was designed for safety to ensure that the replay attacks are no longer possible.

Supports of Bitcoin Cash

• Majority of the world’s top popular exchanges are listed Bitcoin Cash so users has convineint to buy and sell BCH.

Block size and Speed

• Bitcoin Cash upgraded its blocks from 8MB to 32MB that making it more scalable. Because of this many people will use it without any congestion.

Mining

• Bitcoin Cash developers uses DAA algorithm to stabilizes the fluctuations. This algorithm will protect BCH against timestamp attack.

Ethereum(ETH)

Immunability

• Its blockchain is immutable hence the third parties are incapable of modifying data on ETH blockchain.

Secure

• With the help of PoS Consensus Protocol together with Blockchain’s cryptographic method, they can makes the sytem impermeable that keeping it safe from hackers and manipulations.

Easy to Use

• With SmartContract, ERC20 token creation can be done easily and fast.

No Shutdowns

• In Smartcontract, there will be no downtimes. They will never shut down its server.

Has popular Investors

• It supported by many influential capitalist in market.

They are both popular and worth cryptocurrences.They are both listed in every popular market exchanges around the globe. Its hard to choose between them, they have different features and purposes. Different signs, developers, and uniqueness. They are both growing and expected to have high rates in the near future.

Hoping that this article will give you some knowledge about Bitcoin Cash and Ethereum. What is your favourite among them? Do you invest for Ethereum? Or In Bitcoin Cash? Which do you think is the best? Let me know in the comment section.

Thank you for reading💜