Does ethereum run on the bitcoin blockchain?

2

If not, what is the relationship, if any, between Ethereum and Bitcoin and/or the Bitcoin blockchain?

Organic

Posted 2016-06-01T14:36:56.287

Reputation: 131

Answers

6

Bitcoin and Ethereum have different and unique blockchains. They have no relationship (other than the fact that Ethereum and all other cryptcurrencies based their design on the Bitcoin blockchain).

karask

Posted 2016-06-01T14:36:56.287

Reputation: 2 089

1Right, in that case, why do I keep hearing that Ethereum complements Bitcoin? And if Ethereum is as amazing as some of the hype out there, can it eventually replace Bitcoin?Organic 2016-06-01T14:44:40.700

@Organic It could replace Bitcoin. Ethereum has a much more advanced scripting language, which is its strength (and weakness). Bitcoin is simpler (more elegant) and has a much larger support base.Geremia 2016-06-01T15:15:05.683

Bitcoin is more focused on being a currency, while Ethereum is more focused on being a smart contract platform. They both play their roles well, even though they are separate roles with some overlap. That is what people mean when they say they complement each other.Jestin 2016-06-01T15:40:51.453

@Geremia I thought Ethereum "inventors" originally said it specifically does not want to be a currency and gas certainly isn't. Did they change their mind? Anyway, Bitcoin is already hard to scale as a currency, adding a bunch of unrelated stuff on top certainly isn't going to make that easier.Jannes 2016-06-01T16:09:03.217

@Jannes Is Bitcoin even a currency? Many people hold different opinions on that question.Geremia 2016-06-01T16:17:29.820

@Geremia strictly sure, but we're comparing bitcoin to ethereum here, one of which obviously meant to be payment mechanism/currency, the other...Jannes 2016-06-01T17:50:50.813