Bitcoin VS Ethereum VS Ripple – Cryptocurrency comparison

Bitcoin VS Ethereum VS Ripple – Cryptocurrency comparison

Bitcoin VS Ethereum VS Ripple – Cryptocurrency comparison

Bitcoin being the first movers in the cryptocurrency industry has gained huge popularity among the retail consumers. The blockchain technology has created a new era in the global economy and has the potential to beat our traditional banking system. The low-cost transaction on the decentralized peer-to-peer network has given the cryptocurrency huge advantage over traditional fiat currency. Due to the exponential growth of crypto users, other cryptocurrencies like Ethereum, ripple etc. is slowing establishing its importance in the digital cryptocurrency network. Since they are used as an alternative to bitcoins it is often known as altcoins. In today’s article, we will learn about main Crypto coins and their key differences.

Bitcoin

Back in 2009 bitcoin started its operation with a whole new concept of a transaction. For the first time in human history, bitcoin used blockchain technology which eliminated the middlemen and banks required for tradition transactions. If you want to buy any merchandise online anonymously, bitcoin is the perfect solutions for you. Moreover, the proc

essing fees are extremely low when it comes to bitcoin transactions.

Ethereum

Ethereum was initially released back in 2015 and now it has the second largest market cap in the cryptocurrency industry. It is based on blockchain technology which allows the developers to develop decentralized applications. From its launching period, it has gained huge popularity among the cryptocurrency enthusiast and many investors are regularly buying Ethereum with a hope of a sudden surge in Etherrum price in near future.

Ripple

Ripple is often known as RTGS which stands for Real Time Gross Settlement System. It started its operations back in 2012 and now it is one of the most leading currency exchange and remittance network system in the world. Unlike bitcoins ripple is based on the shared public database. They use a unique protocol which is often known as XRP (Ripple Protocol) which has the potential to reduce the transaction fees and times to a great extent.

Bitcoin Vs Ethereum

Bitcoin VS Ethereum VS Ripple - Cryptocurrency comparison

Bitcoin and Ethereum are the two most valuable cryptocurrencies in the world. The current market cap of Bitcoin is set to $143 billion whereas Ethereum has a cap value of $88 billion. To make it more clear bitcoin has a threshold power equivalent to Unilever and Ethereum can be compared to Starbucks. Though bitcoin and ethereum share the same blockchain technology they have a decent difference when it comes to using of other applications. Those who live in the countries prone inflation rate can use the bitcoin as a standard medium of transaction over fiat currency. On the contrary, Etherum is more like Smart contracts.

If you start using the Ethereum token, you can easily avoid multiple identify problems. For instance, if we use a smart token system of Ethereum in voting technology, no one can vote for you once you vote for a certain president. To be precise, the use of bitcoin is mostly related to digital currency whereas as Ethereum token has many real-life implementations. However, bitcoin token system can also be used in real life but the issuance rate for bitcoin token is 12.5 for 210,00 blocks. On the contrary, we can easily get one ethereum token per new block. If you do some extensive research you will understand bitcoin holds the potential to replace traditional currency system and Etherum, on the other hand, is the pioneer of the smart contract system.

Bitcoin vs Ripple

Compared to the token value of Bitcoin, Ripple is still the most popular one due to its deceptively low value of $3.12 per token. Though the base of cryptocurrency is a decentralized network Ripple is owned by a private company which has closed affair in its internal ledger. Ripple has the potential to solve asset transfer problems in the global market. Though this two has different end goal but surprising the Ripple has a circulation valuation of $120 billion in the global market. The minimum Ripple transaction cost to overload the network is near about 0.00001 XRP. Since Ripple transactions are done through off ledger method, the users can complete a transaction in less than four seconds.

Ethereumvs Ripple

Etherum is most used as smart contracts which used peer-to-peer technology on a decentralized network. On the contrary, Ripple is privately owned company dedicated to asset transfer solutions in a most efficient way. The average block time for ripple is only 3.4 second whereas Ethereum has 14.2 seconds. But in ripple, no mining technology has been used but ethereum uses Ethash technology.

Bitcoins and altcoins will always have close competitions since its end goal slightly varies. But it is hard to come to a conclusion and declare on specific cryptocurrency is the best one in the market where other has so many advanced uses of its applications. Depending on your needs, you have to pick your cryptocurrency to minimize extra cost.

 

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