The comparison of two Blockchains is absurd. Each Blockchain is unique in its essence and has its advantages and disadvantages. However, there are some parameters available to compare different blockchain technologies. One of the common parameters is the number of transactions handled by the chain. The number of transactions gives a clear idea of the effectiveness of the particular blockchain.
If we take this into account, we can say that Ethereum blockchain technology dominates, as the network has processed over $29b in the past 24 hours. For comparison, we say that this is more than Bitcoin, Bitcoin Cash, Litecoin, Dashcoin, Bitcoin Gold and Ethereum Classic put together.
It should also be noted that the volume of transactions in question was not only processed by Ethereum, and by all the existing cryptocurrencies based on Ethereum.
Despite the rising cost and number of transactions made through the Ethereum blockchain, raising concerns among investors compared to other types of blockchains, Ethereum still many times more effective. The network creates a new block every 15-20 seconds, which is much faster than Bitcoin, whose block creation time is about 10 minutes. Also, the average transaction fee for Ethereum is about $2.50, compared to an average charge of $28.90 per Bitcoin transaction. This high price and the slow network are huge difficulties for Bitcoin as they make the coin unusable for smaller payments.
In November, Vitalik Buterin, founder of the Ethereum Foundation, presented the Ethereum 2.0 road map that will address the scale of the current network. He pointed out that he was aiming to achieve VISA scaling within the next 3 to 5 years.
Source: Finance Magnates
Jr Trader Petar Milanov
Finance Magnates: Ethereum Blockchain Dominates World's Transactions
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