List of Cryptocurrency
‘Bitcoins’ indeed a word that has proved as a trendsetter these days, not only that it is one of the most valued cryptocurrency. But as the term ‘cryptocurrency’ became familiar only after the introduction of Bitcoins, we aren’t aware of the other cryptocurrencies that exist. There are a lot different kind of cryptocurrencies apart from bitcoins one can invest in and diversify their portfolio, thus reducing the risk.infact, some of these cryptocurrencies are easier to hold and include greater risk bought by lesser liquidity and value retention. Here, we look at six cryptocurrencies of 700 that do exist will be a lot of worth.
Litecoin was released on 7 October 2011 by Charlie Lee, an MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses “script” as a proof of work, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard. Litecoins are considered better than bitcoins in the sense that they are far quicker and cheaper because they aim to process a block every 2.5 minutes, which is 10 minutes in bitcoins. There can only ever be 84 million Litecoins, and as it stands, 55.58 million have been released or mined already, meaning almost 30 million coins are still fair game for miners.
The function requiring asymptotically more memory than an algorithm which is not memory-hard. Litecoins are considered better than bitcoins in the sense that they are far quicker and cheaper because they aim to process a block every 2.5 minutes, which is 10 minutes in bitcoins. There can only ever be 84 million Litecoins, and as it stands, 55.58 million have been released or mined already, meaning almost 30 million coins are still fair game for miners.
Ripple was developed in 2004 by Ryan Fugger and was designed and built in 2011 by Arthur Britto and David Schwartz, which was finally released in 2012. Ripple transaction protocol or ripple protocol(RTXP), created by ripple company, is a global network that provides instant and low-cost international payments.Ripple is based on consensus ledger, a process that allows payments, exchanges and remittances in a distributed process. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviours’ and thus currently plans to distribute XRP primarily “through business development deals and selling XRP to institutional buyers interested in investing in XRP.” currently, ripple currency has a market share of $44 billion. List of Cryptocurrency
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer and the system went live on 30 July 2015. Ethereum operates on a decentralized software platform, that operates on smart contracts, without any possibility of downtime, fraud or interference from a third party. Unlike Bitcoin, Ethereum operates using accounts and balances in a manner called state transitions. This does not rely upon unspent transaction outputs(UTXOs). Ethereum blockchains, by design, are inherently resistant to modification of data. After the collapse of DTO project, in 2016, there was split into two separate blockchains, the initial one named ethereum classic (ETC)and the new one named ethereum(ETH).Currently, there has a market capitalization of $92 billion, which is next to bitcoins among all other cryptocurrencies.
4. Dash (darkcoin)
Dash is a unique peer to peer network where one can make instant and private purchases, direct from dash wallet. This cryptocurrency was developed by Evan Duffield, on 25 March 2015. Dash network consists of “master nodes” which perform PrivateSend, InstantSend, and governance functions.dash has experienced large fan following in a short span of time and became the most active altcoin community on bitcointalk. Dash operates on a mastercode decentralized network that makes transactions almost untraceable. Due to increases in the value of Dash, as of March 2017, the treasury system provided about $574,000 per month in funding.List of Cryptocurrency
The founder and CEO of Zcash Company are Zooko Wilcox-O’Hearn who developed cash cryptocurrency in 2016. “If Bitcoin is like HTTP for money, Zcash is https—a secure transport layer”, this is how cash defines themselves. Zcash is the permissionless cryptocurrency that fully protects the privacy of transactions using zero knowledge cryptography, which means details such as sender, recipient, and the amount remains private. Zcash offers its users the choice of ‘shielded’ transactions, which allow for content to be encrypted using an advanced cryptographic technique or zero-knowledge proof construction called a zk-SNARK developed by its team.
6. Monero (XMR)
Monero is a brand new uprising cryptocurrency that originates from bitmonero. It is an anonymous and decentralized cryptocurrency with cryptoNight(64- bit CPU- only) PoW hash algorithm and based on cryptoNote protocol.Monero is a secure, private and untraceable cryptocurrency. Created in 2014, monero aims to improve existing cryptocurrency by making mining process more egalitarian. Unlike most of the digital coins, Monero uses a special technology called “ring signatures” which shuffles users’ public keys in order to eliminate the possibility to identify a particular user.
Though bitcoins remains on top of the pack of cryptocurrencies, capturing the major market, nevertheless other virtual currencies like ripple and Ethereum are also becoming popular, while others do prove to be better than bitcoins due to their advanced and superior technology. looking at the current scenario and popularity of cryptocurrencies, which virtual currency will emerge as a growing leader is something dig in future and will be released in near time.
Report: Simran Ahuja ( [email protected] )
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