🗂️ Crypto Basics | Bitcoin and Ethereum
· Key point: Bitcoin uses the UTXO model to track balances, while Ethereum uses an account model. They use different accounting methods.
· Why it matters: Many tokens and DeFi applications are deployed on Ethereum and its layer-2 networks, while applications on the Bitcoin mainnet are mostly for transferring and storing value.
· Note: Leave some ETH to pay gas fees when using Ethereum; Bitcoin transaction fees are paid in BTC.
$BTC 82072 (-1.62%)
· Key point: Bitcoin uses the UTXO model to track balances, while Ethereum uses an account model. They use different accounting methods.
· Why it matters: Many tokens and DeFi applications are deployed on Ethereum and its layer-2 networks, while applications on the Bitcoin mainnet are mostly for transferring and storing value.
· Note: Leave some ETH to pay gas fees when using Ethereum; Bitcoin transaction fees are paid in BTC.
$BTC 82072 (-1.62%)