With the rise of virtual assets, users trades their
cryptocurrencies between them in an indistinguished way, however, deep
down there is much to talk about. Being the Bitcoin the first developed
cryptocurrency and the Ether the second most used cryptocurrency, it is
worth making an analysis of the operation of both.
Bitcoin is stored in transactions injected on a
chain of blocks (blockchain). Each block contains several transactions
made with the signatures of each of the issuers. The signatures are made
by a cryptographic algorithm using a pair of keys (public and private)
of each of the issuers of the transactions. And so we can make the
comparison that a block contains a X amount of bitcoins and is
distributed in different envelopes, called transactions, and these
envelopes contain a specific amount of bitcoins.
From the above we deduce that the amount of
bitcoins belongs to the unspent incoming transactions and not on the
addresses of the users wallets, but they are associated to them due to
the signatures made with the key pair of the user’s wallet.
And what about Ethereum?
Ethereum is a payment platform with different
cryptocurrency types that, despite using the blockchain model, has the
advantage of using smart contracts between pairs of users, so that
different applications can be made over the Ethereum network, even if
not associated with cryptocurrencies or non-financial.
Due to the use of intelligent contracts, the
protocol for transferring a cryptocurrency within the platform is
directly, it is directly associated to the user’s wallet address and
generates confidence in the participants. Also they can even make smart
contracts with an institution or financing.
In summary, the user who sends an amount of Ether on the Ethereum platform sends it directly to the user’s wallet.