Cryptocurrencies are a topic that has been around for a long time. The information that had been released seemed like it was going to be a passing trend like any other, but the reality is that this one in particular came to stay. If we talk about cryptocurrencies, what still generates a lot of debate is security and if they are a way to investments.
On the other hand, cryptocurrencies are classified as a digital medium to carry out exchanges. In simpler words, they are a digital currency that are specifically use to make transactions between users and it can be controlled and managed safely.
One of the main characteristics of cryptocurrencies is that they are not a physical currency, however, they can be stored in external memory or hard drives. In addition, they do not depend on any government body for their creation because their development is based on unique cryptography.
Currently, there are around more than 7,100 virtual currencies in the world, but more are still being created and through a process called ICO, it is possible to create a new cryptocurrency from time to time.
If we talk about the philosophies and technologies that cryptocurrencies use, we can mention that there are as many as the number of currencies. What most differentiates these currencies is the type of technology they use, like Blockchain.
After the cryptocurrencies have been created, some platforms have appeared to buy, send and receive different types of these currencies. Some examples are: Ethereum, Bitcoin Cash, Bitcoin, and Litecoin. On the other hand, a platform and digital wallet that offers the possibility of using cryptocurrencies safely and effectively to users is Coinbase.
Recently, Blockchain published some news where they forecast the increase in the consolidation of virtual currencies, despite the fact that in 2018 it suffered a great fall. On the other hand, none of this is to say that these coins are completely safe, but for people who want to use them, they can consider it and take advantage of their potential.
The most famous cryptocurrencies around the world
Many people consider that Ripple is the successor of Bitcoin because this cryptocurrency was made by the people who previously developed Bitcoin, this was done in order to make the presentations better. Ripple is based on a completely secure system where the transaction information is public, but of course, the payment information is not.
This means that when transactions are carried out, no external person will be able to view the information, only the sender and the receiver. During 2017, Ripple had a very large increase but the following year, it suffered a very significant decline. However, today it continues to remain positive.
During 2017, Ethereum and Ether were considered one of the most profitable cryptocurrencies that use technologies like Stox or Aragon. These coins are a great alternative to Bitcoin because it is the second digital currency if we talk about capitalization.
On the other hand, in 2018 this cryptocurrency was able to achieve a historical amount of $1,423. In addition, one of the characteristics that stands out the most of these currencies is that it uses smart contracts and a consolidated development of applications, for this reason, it is one of the projects with the most ambition of Blockchain.
Wallet is considered the differentiating element of the cryptocurrency. Unlike some other currencies of this type, when transactions are made, the information is completely anonymous, this means that neither the sender nor the recipient will be able to know the details of it. Many people believe that this is a disadvantage because it could benefit cyber criminals.
Bitcoin and Litecoin have a fixed supply of coins while Wallet does not, which is a great advantage that we cannot overlook. In the opinion of some experts, Wallet could experience its greatest increase up to $ 50.
IOTA managed to become one of the most valuable cryptocurrencies of all time thanks to the announcement of its partnership with Microsoft. One of the things that most differentiates this currency from the rest is that it does not have blocks, miners and commercial fees. This means that an amount of computing power and large amounts of coins are not required.
When users make a transaction, they will have the possibility to validate it for two more transactions, which makes the owners of IOTA, the miners of this chain.
Cardano is a new block system that is currently not that popular, but it promises great contributions to the world of cryptocurrencies. This project was developed in 2015 by leading academics and engineers, but two years later it became a reality. This currency is divided into two layers, one where transactions are executed and another where applications and contracts are made.
Bitcoin is probably the cryptocurrency that people have heard the most about and the reason for this is because this coin is the pioneer in this digital world. During 2008, it was created by a group of people by the name of Satoshi Nakamoto. At first, no one believed that it would achieve big data, much less that it could have the value it has now.
To position itself as a leader in the digital market, the creators of this coin have been constant and thanks to this it is above the others. On the other hand, this digital currency has also suffered falls and no one knows when it could rise or fall again.
This cryptocurrency was created by a former Google employee named Charlie Lee during 2011. Today there are more than 60 million Litecoin circulating and this has a larger limit compared to Bitcoin.
The fear that arises after the use of cryptocurrencies is something that will not be solved so quickly. However, in 2014 Da Hohgfei created this digital currency in order to assuage a bit of fears about the use of these currencies in China. At that time, the Chinese government announced that a very large control would be carried out in the digital money sector and also, it prohibited ICOs from free management.
Dash is a cryptocurrency that has some more advanced features than others. Examples of this are private transactions and instant transactions. This digital currency can be purchased at an excellent price and experiences volatile moments.
NEM, like other cryptocurrencies, uses Blockchain technology for its operation. This digital currency allows you to register names, create accounts with some users and send messages, in addition, if you are thinking of investing, this currency is considered low cost because of the cost with which it ended the last year. Without a doubt, one of the best options if we talk about cryptocurrencies.