00:01
Hello students, let's describe the two cryptocurrencies and discuss the similarities and the differences.
00:08
So let's look over the bitcoin, bitcoin and ethereum and the ethereum.
00:16
So let's first discuss about the bitcoin is the first and the most well known cryptocurrency.
00:22
It was introduced by the 2009 by an individual or grouping up by using a pseudomonial.
00:28
So a bitcoin is primary function to serve a decentralized digital currency, enabling a peer to peer transaction without the need for an intermediates like the bank.
00:43
So bitcoin's transactions are recorded on the public leverages that are called as a blockchains.
00:51
So bitcoin is a primary function to serve to serve as a decentralized as a decentralized digital library, digital currency, digital currency, where it enables the peer to peer transaction, peer to peer transaction without transactions, without the need for the without the need for intermediates like the banks without the need of the intermediates, intermediates.
01:48
As for example, we can say imagine alice wants to send a point five btc to the bob.
01:56
So alice initiates the transaction, which is the board, which is in a broadcast to the bitcoin network.
02:04
The miners variable that miners valid and add a transaction to the block.
02:10
And once confirmed, the transaction is added to the blockchain.
02:13
And as the bob receives the point to point to point five btc.
02:20
So this is mostly it is made of the record on the public leverages called the blockchain.
02:28
So whereas the similar and the differences like the similarity with the bitcoin and ethereum uses the blockchain technology for the security and the transcendency.
02:40
And the difference is that bitcoin primarily focus on the digital currency and stores the value.
02:46
It aims to replace the traditional financial system...