What is the difference between bitcoin and Ethereum

February 26, 2018

Circle the crypto currency company acquires Poloniex,  Circle CEO Jeremy Allaire explains the difference the difference between Bitcoin and Ethereum in a layman’s terms.  Transcription of the video below.

Bitcoin was the first crypto currency that gained widespread awareness and adoption and people would like to refer to it as crypto gold. It is a system to store and transmit and keep records. Ethereum emerged out of the frustration with bitcoin and the frustration with the pace of development of the Bitcoin technology. So Engineers were frustrated and wanted to see some new capabilities in Crypto. In particular the capability to not only have one token but a system that could have lots of different tokens so you could have a cryptographic asset for a house or a car or a house or a stock or a bond or for fiat currency even. The cryptographic assets would be tradable and exchangeable on a blockchain. Ethereum made that possible. They also made it possible to write software or business rules, contracts that were connected to these assets. So you could build lets say a bond with the rules of the bond expressed in code and tradable and liquid and exchangeable on these platforms. Ethereum is a much more sophisticated infrastructure.