A Comparative Analysis of Bitcoin and Ethereum Blockchain

Abstract

With the development of blockchain, various blockchain-based applications emerged. Of which Bitcoin and Ethereum are the most representative and popular blockchain applications. Therefore, it is important to compare Bitcoin with Ethereum and infer their developing trends. In the paper, we compare Bitcoin and Ethereum from different perspectives, including consensus algorithm, transaction cost, extension, and security. Comparative results demonstrate that Ethereum is better than Bitcoin on extension and transaction mechanism. Also, based on the results, we discuss about the essential development trend about blockchain applications. In the future, blockchain applications will be a platform which can provide more functions than digital currencies.