Did you guys know that there are over 2000 different cryptocurrencies out in the market today and yet the big king is the Bitcoin. Today it is considered the gold of the internet as it introduced blockchain technology to the entire world. Its main purpose was to decentralize currencies so that the government isn’t in control of your money.
Bitcoins are broken down into Satoshis is the best way to explain this is that bitcoins are like dollars whereas Satoshi are like cents.
But there is another currency whose popularity is growing right now. Litecoin is a peer to peer cryptocurrency. Creation and transfer of coins, it’s based on an open source cryptographic protocol and it is not managed by any central authority. While inspired by Bitcoin, Litecoin does have some technical improvements as it has almost zero payment costs and facilitates payments approximately four times quicker than Bitcoin. Blockchain proposes not only currencies but also new systems namely Ethereum. It is a computing platform featuring smart contracts. That means that a contract is ruled by a computer protocol. Ethereum also provides a cryptocurrency token called ether which can be transferred between accounts and used to compensate participating notes for computations performed.
In other words the Ethereum platform allows other programmers to build their own cryptocurrency coins. For instance Ripple, it enables secure instant and nearly free global financial transactions of any size with no chargebacks.
Ripple is used by big companies such as Unicredit and UBS as settlement infrastructure technology. Its main competition is the International Swift Monetary Transfer System.
Even if you don’t know anything about blockchain and Bitcoins, we believe you have heard about Dash. Earlier it was known as Dark Coin. A duplicated Bitcoins existing code and made it better by addressing the issues users faced with it. So apparent flaws and weaknesses in Bitcoin are absent and Dash making both digital coins substantially different in terms of efficiency. Dash provides a faster and more anonymous service to its users. Monero is considered a cash like cryptocurrency. It is more anonymous than Bitcoins and it is basically impossible to trace or track Monero transactions.