How Bitcoin Compares to Ethereum

The video discusses the differences between Bitcoin and Ethereum, highlighting their distinct purposes. Bitcoin is primarily a peer-to-peer payment system, while Ethereum serves as a decentralized app platform. The video also explores Ethereum's competitors like Solana, Polkadot, and Avalanche, which aim to offer better smart contract platforms and faster transactions. Despite these competitors, Ethereum's early presence and strong developer community make it a leader in the space.

What is the primary purpose of Bitcoin as discussed in the video?

• A digital marketplace

• A smart contract platform

• A peer-to-peer payment system

• A decentralized application platform

How is Ethereum described in relation to applications?

• As a digital currency

• As a peer-to-peer network

• As a traditional banking system

• As the Apple App Store for decentralized apps

Which of the following is NOT mentioned as an Ethereum rival?

• Polkadot

• Avalanche

• Solana

• Ripple

What is one of the strategies used by Ethereum's competitors to improve their platforms?

• Increasing transaction fees

• Reducing the number of nodes

• Implementing sharding

• Using centralized servers

What is a significant advantage that Ethereum holds over its competitors?

• It has the fastest transaction speeds

• It offers the lowest transaction fees

• It was the first to market and has the most experienced developers

• It is the most energy-efficient