Irina Bodan
Member
Purpose and Use
- Bitcoin (BTC): Think of it as digital cash. You can send and receive it directly, bypassing banks.
- Ethereum (ETH): Imagine a platform for building apps without a central boss. It's a hub for cool new things in finance, healthcare, and more.
- Ripple (XRP): This one helps banks move money internationally faster and cheaper, like a faster SWIFT system.
Blockchain Technology
- Bitcoin & Ethereum: Used Proof of Work (PoW) to validate transactions (energy hungry!).
- Ethereum 2.0: Switched to PoS that's faster and uses less energy.
- Ripple: Uses a unique algorithm called Ripple Protocol Consensus Algorithm (RPCA) that's fast and energy-efficient.
Speed and Transactions
- Ripple: Handles thousands of transactions per second.
- Bitcoin & Ethereum: Slower and less scalable.
I made a blog about their differences in a more detailed manner, if you wanna have more insights about the case, come check my blog
! *If this violets the rules of the forum, plz let me know and I will remove the link asap!
