Bitcoin is a particular use of the blockchain technology – a peer-to-peer electronic cash system for making payments. Ethereum is more an environment in which different applications can operate.
One of the biggest obstacles that people face when trying to get into cryptocurrency trading is having an efficient way to track the value of the coins that they hold.
Bitcoin is the first ever invented digital currency. It works the basis of the blockchain technology. It is continuously being created through a process called mining that involves computers solving cryptographic puzzles.
The Blockchain. This is a term you probably heard a lot recently. Whether you’re watching your local news, the world news or surfing the Internet, the blockchain is a huge topic these days.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
The technical aspects of Bitcoin can be quite confusing, even for the most seasoned computer programmer, let alone the average person. While it is not necessary to fully understand how Bitcoin works to reap the benefits of its existence, it is paramount that everyone understands what a Bitcoin wallet is, the different types and which one is most secure.