Ethereum vs. Bitcoin Blockchain
The Ethereum blockchain is like a giant supercomputer that allows not only decentralized applications (DApps), but also protocols, and decentralized autonomous organizations (DAOs) to be built on top of its network.
While the Ethereum blockchain includes the same block structure as Bitcoin; (previous block number, sender and receiver’s address, and currency amount) it includes three other data fields in its blocks. These three extra fields allow people to create contracts on the Ethereum network.
To make the contracts secure and private, the Ethereum blockchain uses a decentralized data storage system. It splits up the data into separate blocks and then encrypts each block.
This process makes it more secure to buy and sell a digital asset, like a land title, when it’s stored on the Ethereum blockchain.
Now, let’s take a closer look at how a digital asset can be exchanged on the Ethereum blockchain through its smart contracts feature.
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