Bitcoin And Other Cyrptocurrencies or Crypto Currency

What is Cryptocurrency?

A Cryptocurrency is a digital asset that is designed to work as a medium of exchange that using cryptography to make transactions more secure and to control the creation of additional units of the currency. Cryptocurrencies were classified as a subset of new digital currencies and also classified as a subset of other alternative currencies.

Bitcoin became the first decentralized cryptocurrency in 2009. After that other cryptocurrencies has been created and these are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money or centralized banking systems. The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger. 

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Bitcoins (BTC)

It was invented by an unknown programmer or a group of programmers that is under the name Satoshi Nakamoto. It is one of the Crypto Currency and a Digital Payment System that has been released as an open-source software in 2009.

Img Source: howitworksdaily.com

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of Bitcoin. While some of these currencies are easier to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention.

Litecoins (LTC)

Litecoin has been launched in 2011 and it was among initial cryptocurrency following the bitcoins. It was being referred as Silver to Bitcoin's Gold and was created by Charlie Lee. Lee is a former Google Engineer and a MIT Graduate. Litecoin is based in an open-source global payment network that is not controlled by any Central Banks and with the use of Scrypts as a proof of work which can be decoded by comsumer grade CPUs. It is the same with the Bitcoin in many ways and it has faster block generation rate and offer faster transaction confirmation. 

Img Source: etdailynews.com

Ethereum (ETH)

Ethereum has been launched in 2015 and is a decentralized software platform that enables Smart Contracts and Distributed Applications to be built and run without any downtime, fraud, control or interference from a third party. It is being launched as a pre-sale in 2014 and received an overwhelming response. Its applications run on its platform-specific cryptographic token - Ether. It can be use codify, decentralize, secure and trade just about anything. 

img source: garrygolden.com

Zcash (ZEC)

Zcash has been launched in late 2016. If bitcoin is the http of money, then Zcash is the https of it, this is zcash on how being defined. It offers privacy within its transactions and like https it gives extra security and all transactions are recorded and published in blockchain but is detail like sender, recipient, and amount remains private. 

img source: z.cash

Dash

Dash has been launched in Janury 2015. Dash is generally known as DarkCoin and is more secretive form of bitcoin. It offers more anonymity as it works on a decentralized mastercode network and makes a transactions almost untraceable. This form of cryptocurrency has been created and developed by Evan Duffield and can be mined using a CPU or GPU. Within that year also darkcoin has been renamed as Dash which stands for Digital Cash and operates under the ticker and is hasn't changed any of its technological features such as InstantX, Darksend. 

img source: google

Ripple (XRP)

Ripple has been released in 2012, this is a real-time global settlement network that is offering instant and low-cost international payment. It enables banks to settle cross-border payments in real-time with transparency and has market capitalization worth $1.26 billion. Ripple's consensus ledger doesn't need mining and it reduces computing power and minimizing network latency. 

img source: google

Monero (XMR)

Monero has been launched in 2014 and is a secure, private and untraceable currency. It is developed as a completely donation-based cryptocurrency and a community-driven. It has been launched with a strong focus in scalability and decentralization and enables complete privacy using special technique called ring signatures. 

img source: google

Bitcoin still leads as a top cryptocurrencies within this year. According to sources, 1btc is now worth $2,314.72 and changes a little bit everytime. 

as of july 2017

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