What are the main cryptocurrencies? – Elsona Brooks
Crypto-currencies are virtual currencies. It is a peer-to-peer value exchange system. The system is decentralized and fully supported by user activities. In this system, each peer serves as a server and that is what constitutes blockchain technology. Each peer therefore has the power to verify a given transaction and make the necessary calculations to know if the cryptocurrency that circulates is not used simultaneously by different people.
Different kinds of cryptocurrency circulate on the market. Each token has its value and each cryptocurrency has a profile of its own. To better understand the mechanism of crypto-currencies, you must know the cryptocurrency that circulate the most on the market.
Before entering the heart of the matter, here is the list of the 20 main crypto-currencies you should know: Bitcoin, Etherum, Ripple, Bitcoin Cash, Cardano, Litecoin, NEM, NEO, Stellar, IOTA, EOS, Dash, TRON , Monero, Gold Bitcoin, Etherum Classic, ICON, Qtum, Lisk, and RaidBlocks.
Now, let’s take a closer look at each of these crypto-currencies.
Bitcoin is the first cryptocurrency ever created. It is produced and developed as and when it is used. Bitcoin can be used for the purchase of goods and services online and sometimes even in a traditional store. It is similar to the classic fiduciary money we use every day to buy food or to pay rent.
Bitcoin has no physical variant, it is not printable. On the other hand, it is exploited through mining. In other words, the production increases according to the increase of the requests. You can buy bitcoins at sites like coinbase or LocalBitcoins.com. You can also earn them by agreeing to receive them as one of the main means of payment for the services you provide.
You must know first and foremost that your data and online contact information are stored on servers. These servers are secure at best to protect you. However, the government and various institutions are free to access your information anyway. The only thing that could really protect your information is a decentralized storage system.
This is where Etherum comes in. Etherum is a technology that aims to make the storage of sensitive information more effective. More specifically, it is an international artificial intelligence that stores the most important data. By using Etherum you buy a secure storage space that will ensure the confidentiality of your data.