Get an in-depth look at what crypto currency is and why you should invest in it. Learn about the different types of crypto currency and find out which one is right for you.
Checkout this video:
Bitcoin
Bitcoin is often called the first cryptocurrency, although prior systems existed. It is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoin is decentralized because there is no central authority that manages it. Transactions are instead recorded on a decentralized ledger called a blockchain. Bitcoin is also unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
In 2014, a group of programmers under the leadership of Vitalik Buterin created Ethereum as a way to use blockchain technology to create contracts that could be enforced without the need for a third party. Ethereum’s native currency, ether, is used to pay for transaction fees and computational services on the Ethereum network.
Ethereum is the second largest cryptocurrency by market capitalization, after Bitcoin. It is widely considered to be one of the most promising cryptocurrencies in terms of both technology and investment potential.
Litecoin
Litecoin is a cryptocurrency that was created in 2011 by Charlie Lee. Litecoin is very similar to Bitcoin in many ways, but it has a faster block time and a larger number of coins that can be mined.
Litecoin is often called the “silver to Bitcoin’s gold.” This is because Litecoin has many of the same characteristics as Bitcoin, but it is cheaper and faster.
Here are some reasons why you should invest in Litecoin:
-Litecoin is cheaper than Bitcoin, so you can buy more with your investment.
-Litecoin is faster than Bitcoin, so you can get your transactions confirmed more quickly.
-Litecoin has a larger supply than Bitcoin, so there is more potential for growth.
-Litecoin is more widely accepted than Bitcoin, so you can use it to buy more goods and services.
Bitcoin Cash
Bitcoin Cash (BCH) is a cryptocurrency that resulted from a fork of Bitcoin in August, 2017. The main difference between the two is that BCH increases the block size from 1 MB to 8 MB, meaning that it can process more transactions per second. BCH also removed SegWit, which is a protocol that decreases transaction fees and speeds up transaction times.
Ripple
Ripple is a digital currency and an Internet protocol that connects disparate financial systems and allows for the transfer of money in any form, whether fiat currency, cryptocurrency, commodities, or even airline miles. Released in 2012, Ripple is based on a shared public ledger that uses a consensus process to validate transactions. It does not require mining like Bitcoin, so it is much more environmentally friendly. And because it doesn’t have the same bottlenecks as Bitcoin, transaction times are quick – just 4 seconds! – and cheap. One of the big benefits of Ripple is that it can be used by financial institutions as a way to settle cross-border payments quickly and cheaply. That has already led to some real-world adoption, with companies like American Express using Ripple to send payments between the US and the UK.
Dash
Dash, formerly known as Darkcoin and XCoin, is an open source peer-to-peer cryptocurrency that offers all the same features as Bitcoin but also has advanced capabilities, including instant transactions, private transactions, and decentralized governance. Dash is one of the most popular alternative cryptocurrencies and was created in 2014.
Monero
Monero is a digital asset that is secure, private, and untraceable. It is one of the most popular crypto currencies available today, and it has a strong community backing it. Monero is a good choice for investors who are looking for a long-term investment, as it has a strong track record and is backed by a strong team.
Zcash
Zcash is a digital currency that offers privacy and selective transparency of transactions. Zcash is based on peer-to-peer technology and zero-knowledge cryptography. It provides users with enhanced security and privacy features compared to other cryptocurrencies such as Bitcoin.
Zcash offers two types of addresses: transparent and shielded. Transparent addresses are the same as Bitcoin addresses and are publicly visible on the Zcash blockchain. Shielded addresses are private, and transactions involving these addresses are encrypted and not visible on the public blockchain.
Zcash is supported by a decentralized network of miners who confirm transactions on the blockchain. Zcash mining rewards are distributed to miners in proportion to their contributed mining power (hashrate).
You can mine Zcash with a CPU, GPU, or ASIC miner. ASIC miners are specialized hardware that can only be used for mining certain cryptocurrencies, such as Bitcoin or Litecoin. GPU and CPU miners can be used for mining many different cryptocurrencies.
Zcash can be bought and sold on exchanges such as Coinbase, Bittrex, or Kraken. You can also convert it into other digital currencies such as Bitcoin or Ethereum.
NEO
NEO is a smart contract platform that enables all kinds of digital assets to be transferred seamlessly. “Smart Economy” is a concept first proposed by the NEO team, which includes a distributed network, a digital economy, and a smart contract system. It is also one of the largest cryptocurrency communities in the world.
Cardano
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a global collection of expert engineers and researchers.
