Bitcoin / Ethereum
Leading cryptocurrencies with differing functionalities and ecosystems.
Detailed Description
Bitcoin / Ethereum
What is the primary purpose of Bitcoin?
Bitcoin is primarily designed for peer-to-peer transactions and as a store of value.
How does Ethereum differ from Bitcoin in terms of functionality?
Ethereum focuses on enabling developers to create decentralized applications and smart contracts, while Bitcoin is mainly a digital currency.
What mechanism does Bitcoin use to validate transactions?
Bitcoin operates on a proof-of-work consensus mechanism.
What are some common use cases for Ethereum?
Ethereum is used for decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and various enterprise applications.
What challenges do both Bitcoin and Ethereum face?
Both face risks like price volatility, regulatory scrutiny, and technological challenges such as scalability and high transaction fees.