Ether provides greater flexibility than Bitcoin does

DWQA QuestionsCategory: BlockchainEther provides greater flexibility than Bitcoin does
Editor Staff asked 2 weeks ago

Ether provides greater flexibility than Bitcoin does
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1 Answers
Editor Staff answered 2 weeks ago

This is True Statement, hence Answer is 1) True

As you enter the new and exciting world of crypto, one of the first things you will ask yourself will be about the differences between Ethereum vs Bitcoin. It’s quite baffling, right?
You may think of Bitcoin and Ethereum, as a lot of us do, as Apple and Microsoft of crypto. However, unlike Apple and Microsoft, they are completely different from one another. Both have very different objectives in mind.
Bitcoin operates on a proof-of-work basis. Proof-of-work means that in order to create blocks and add them to the blockchain you must solve very complex mathematical problems. This ensures that the information was difficult and costly to make, which helps to prevent fraud and malicious activity because of the cost involved in creating the block.
In fact, other cryptocurrencies compare a lot closer to Bitcoin and Ethereum than Bitcoin and Ethereum compare to each other. For example, Litecoin is a lot more like Bitcoin than Ethereum is, and NEO is a lot more like Ethereum than Bitcoin is.
The same is true when trading cryptos, too – using the best exchanges (i.e. Binance or Coinbase), you’ll see that the prices differ significantly, too. I’ll get to that in another article, though.

Ethereum was designed to be much more than a payment system. Ether provides greater flexibility than Bitcoin. It is “a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.”