Hello, in this lesson we are going to cover the advantages and disadvantages of aetherium compared to Bitcoin, aetherium and ether as well. So if you're in the blockchain implementation and even the currency that is built on top, so if you want to know a bit more information about aetherium, feel free to check out the previous lesson where I covered what a theorem actually is and how it differed to Bitcoin. Now we're going to be expanding on that and talking about why you might want to use one over the other. So let me white van T is here and this van TJ is over here. Keep going down because quite a bit to come back to So first of all, we will cover the advantages and the first advantage yellow blocks of transactions blocks of transactions can be created faster than Bitcoin they can also be confirmed faster as well.

So I guess that's essentially the same thing as also confer archelon right that I don't need to reconfirm so confirm created a lot faster you might thinking how fast or to put it into perspective and 20 seconds for aetherium and you might think can have that compared to Bitcoin is it 47 minute to minute Nope, it is 10 minutes for Bitcoin So, as you can see, the actual time it takes to confirm and create a block on the blockchain is a lot shorter fast a major advantage. Another advantage is other applications other applications and so, of currency Bitcoin is as of now just restricted to a currency based system. Whereas, if theorem is a blockchain implementation iva is a currency which is built on top of aetherium aetherium is it effective just lie to us blockchain so you could use it for the underlying foundation for a messaging platform.

Email, for example, you could use it as the underlying platform for Cloud Storage. So a decentralized a decentralized and distributed network where your father stores no one single individual organization controls your files. Never advantage it is easier to mine compared to Bitcoin and there's a couple of reasons for this one is not bigger Bitcoin the larger they get, the harder they do become to mine but the other reason it's easy to mine is it encourages It encourages individual miners over pools instead of using pools of mine so the way it's designed is it sort of discriminates against pools and tries to avoid prevent them from doing it and it prefers individual minds. So individuals with regular GPUs, you don't need a sick card or anything can use it. So that's one tactic. Another advantage is it uses a cheering, a cheering, completely programming language so what does that mean?

So essentially a Turing complete programming language means it is more flexible and Given enough computing power, he can solve anything. So, for that reason, the flexibility is great and he allows it to be used for different applications. So got a bunch of advantages compared to Bitcoin. But are there any disadvantages Yeah. As of now, the smaller market, again, I want to emphasize as of now, there are a lot of people within the cryptocurrency sphere within that industry that believe that if theorem can and will be the dominant platform, compared to Bitcoin in the long term due to the fact that it can be used in other applications, but other than that, it does have a smaller market. And as I covered in the previous video, as of October 2017, the market cap for aetherium or ether or I should say what $30 billion dollars, Bitcoin with 100 billion dollars, those are only 30% of the size of Bitcoin is growing as well.

Never thing is each queen is worth a lot less some of you might not see that as a disadvantage or an advantage you might see that okay that's just the way it is but I think I'm gonna put that in the disadvantage section for now especially if you're just getting hold of these coins for if you're just doing a light for like comparison then they are lower value compared to be conduct you could obviously despite more ether coins but and Bitcoin is the is the red Gino blockchain entry and what this essentially means is all other cryptocurrencies will be playing catch up in some form, they will ultimately be compared to Bitcoin, especially for the next few years because that is the original one is the largest one as well. So there will always be saying, why would I want to use this over Bitcoin? Why, why, why, why, why, even though the advantages might be immense for the application they want, they're always going to be in I mean, comparing it to Bitcoin.

So that's something to bear in mind. And nothing is less people know about it. We haven't even heard about it. And as the market grows, this problem will alleviate, but again, it's just something worth bearing in mind. So we've done that I want to cover a few gray areas as well so I think these can fall into the advantage or disadvantage category depending on how you look at them. One is the use is something called a ghost protocol which helps eliminate centralized pool mining, which Bitcoin still allows, you might think that's advantage you might not but I think it's worth mentioning and a nother gray area is unlimited supply of coins.

So unlike Bitcoin, which has a finite supply, which is right, which is meant to be roughly 21 million, and it's meant to be all mined roughly 2140 I believe it is or 2141 that emulates gold Whereas fearing or Eva, because he has unlimited coins, that is more like the current fear currency where the government can just issue more, they might see that advantage or disadvantage in a way to advantage. When you look at it from a multiple application perspective, when you look at from an individual application, you might just think, Oh, it's just essentially what the current fear currency is. And if we're trying to get away from that, that's a disadvantage. But that's it. We've covered the advantages, the disadvantages, and some of the gray areas as well. If you have any questions, feel free to reach out, feel free to go over the video again and check out the different advantages and disadvantages that we covered.

And as usual, thanks for watching, and I look forward to seeing you in my next lesson.