Ultimate Guide of Cryptocurrency List
INFOGRAPHIC INTRODUCTION
Cryptocurrency also termed as the virtual currency uses cryptography which is an encryption technology in order to generate the money and verify transactions. Cryptography is an encryption technology which is based on the complex mathematical concepts and the logical algorithms of computer which makes decryption impossible. The term cryptography is actually originated from the words kryptos and graphein that means secret and writings. Here in this context it is referred to as encryption which is done in a secret way of writing by the complex maths and the logical computer algorithms which makes arduous to hack it.
The transactions done by the cryptos are placed in a public ledger called as the transaction Blockchain, where the new coins are generated through a process called as mining.
This term cryptocurrency may be not an alien to the people of the crypto land, but of course yes it is an alien to the people who knew nothing or little about this crypto world. The crytpocurrency concept was not built in a night and it started with a movement named the cypherhunk in 1980’s. Cypherhunk who is an activist for a political and social change tried to spread the use of cryptography.
Currently cryptocurrency is used as the decentralized alternative to the traditional currencies, which are backed by the government like Dollar or Euro. The first cryptocurrency can actually be traced back to bit gold, in the year 1998 and 2005 which was actually worked by Nick Szabo, but it never got implemented. Though bit gold was considered as the first precursor to bitcoin which was not successful. The modern digital currency has started its era in the year 2008 when Satoshi Nakamoto released a paper on Bitcoin. Bitcoin has then become the first decentralized digital coin in 2008, but went into public in the year 2009.
With its problem solving techniques, the cryptos are slowly and steadily gaining success and are turning out too big to fail, that is because more people are accepting this change. Countries like Venezuale are also turning towards these Cryptocurrencies because the inflation has soared to a very high rate. Therefore they see Bitcoin and Litecoin as a next good option. As the field of cryptocurrency is always expanding and a new digital token being released every next day. The Bitcoin is widely been seen as the pioneer in the crypto world.
At present, Bitcoin is one of the most commonly used and also the known cryptocurrency. Other cryptocurrencies like the Ethereum, Ripple, Litecoin also gained importance with the bitcoin in their journey. As of 2015, the crypto market had only 500 crptocurrencies in the market for trading, but amongst them only 10 had high market capitalization.
As of 2017, the count of these cryptos has reached to 1,100 and the total market capitalization has also reached all-time high value. This being seen the future of crytpocurrencies looks uncertain and also more than a Fad. Despite having its own pros and cons today cryptocurrency is shaping to be a growing market. Every next day a new cryptocurrency is entering the market with a unique aim and problem solving techniques.
- Bitcoin: Bitcoin is a digital payment currency which utilizes the cryptocurrency as a digital medium of exchange and as a peer-to-peer (P2P) technology to create and manage the monetary transactions that which are opposed to a central authority.
- Ethereum: Ethereum which is an open-source network and also a public blockchain based distributed computing platform has an operating system features which supports the smart contract functionality.
- XRP: XRP is a token which is used to represent the transfer of the value across the Ripple Network. The main purpose or aim of XRP is to act as a mediator for both the cryptocurrencies and the fiat exchanges.
- Bitcoin Cash: Bitcoin Cash is also a cryptocurrency which was launched in mid-2017, when a group of developers want to increase the bitcoin’s block size limit and prepared a code change. This change is called a hard fork which took effect on 1 August 2017.
- Litecoin: Litecoin is also a peer-to-peer cryptocurrency and it is an open-source software project which is released under the MIT/X11 license. Creation and transfer of this coin are based on the open source cryptographic protocol and it is not managed by any of the central authority.
- EOS: EOS is a blockchain based protocol which is powered by the native cryptocurrency EOS. The protocol of it emulates most of the attributes of the real computer including the hardware with the computing resources which are distributed equally among the cryptocurrency holders.
- Binance Coin: From the ICO, the Binance has issued its own coin called as the Binance Coin, which has BNB as its symbol. BNB runs natively on the Binance chain.
- Tether: Tether is a controversial cryptocurrency whose token is issued by Tether Limited. It is former claimed as that each token of it was backed by one of the United States dollar.
- Stellar: Stellar is also an open-source and a decentralized protocol which allows the cross-border transactions for the digital currency to the fiat currency and also transfers between any of the paired currencies. The Stellar protocol is supported by a nonprofit organization named Stellar Development Foundation.
- Cardano: Cardano allows the complex programmable transfers of value in a scalable and is a decentralized platform. It is one of the first blockchain platforms to evolve out of the scientific philosophy and a research which is a first driven approach and is one of the first to be built on the Haskell programming language.
- TRON: TRON (TRX) strives to build the future of this truly decentralized internet and a global free content entertainment system that which utilizes the blockchain technology.
- Monero: Monero (XMR) is a cryptocurrency which is private, secure and untraceable one that which was launched on April 18th, 2014. With Monero, it is said that the user is in complete control of their funds and privacy where no one else can see anyone else’s balances or the transactions.
- Dash: Dash (DASH) which is formerly known as the Darkcoin until March 26th, 2015, has become a privacy-centric digital currency with its instant transactions. Similar to cash, Dash allows its users to remain anonymous while transacting.
- Bitcoin SV: Bitcoin SV stands for the Satoshi Vision. Stemming out from Bitcoin Cash, BSV is the hard fork that which is established as a distinct from the BCH after the network upgrade scheduled to November 15th, 2018 and resulted in a hash war to determine whether the chains would be split.
- Cosmos: Cosmos (ATOM) is another cryptocurrency and it has a current supply of 237,928,231 ATOM with 190,688,439 ATOM in the circulation.
- IOTA: IOTA (IOTA) is a distributed ledger for Internet of Things that which uses a directed acyclic graph (DAG) rather than of the conventional blockchain.
- Tezos: Tezos (XTZ) is a multi-purpose platform which supports the dApps and the smart contracts. It aims to combine the self-correcting protocol and the on-chain governance to manage the network of modifications.
- Ethereum Classic: Ethereum forked to a new chain which aimed to be the remedy that damages from the hack. Ethereum Classic is the continuation of the original Ethereum blockchain or its classic version.
- NEO: NEO (NEO), formerly known as Antshares, aims to build the smart economy by incorporating the digital assets, the digital identities, and the smart contracts.
- Ontology: Ontology describes itself as the provider of a high-performance public blockchains, which includes the distributed ledger and the smart contract systems.
- Maker: Maker is a smart contract platform based on the Ethereum chain which backs and stabilizes the value of the stablecoin DAI through the dynamic system of Collateralized Debt Positions (CDP), the autonomous feedback mechanisms, and the appropriately incentivized external actors.
- NEM: NEM (XEM), which actually stands for the New Economy Movement, is a dual-layer blockchain which is written in Java and is launched in 2015.
- Basic Attention Token: Basic Attention Token (BAT) project itself as an open-source, decentralized and exchange platform which is built on the Ethereum platform. The project seeks to address the fraud and the opaqueness in the digital advertising.
- Crypto.com Chain: Crypto.com was founded in 2016 with a goal to accelerate the world’s transition to the cryptocurrency.
- Zcash: Zcash (ZEC) is a decentralized and an open-source privacy-focused cryptocurrency which enables a selective transparency of transactions. The Zcash transactions are transparent and are shielded through a zero-knowledge proof called zk-SNARKs.
- Vechain: VeChain is an enterprise which is focused on the blockchain ecosystem that which aims to enhance the supply chain management by connecting the blockchain technology with the real world through a comprehensive governance structure and a robust economic model, along with an advanced IoT integration’.
- Dogecoin: Dogecoin (DOGE) is a cryptocurrency which is forked from Litecoin in Dec 2013. Dogecoin has been used primarily as the tipping system on Reddit and Twitter to reward its creation or sharing of the quality content.
- USD coin: USDC is a fully collateralized stablecoin of US Dollar. It is an Ethereum powered coin and is the brainchild of the CENTRE; It is also an open source project that which is bootstrapped by contributions from Circle and Coinbase.
- Bitcoin Gold: Bitcoin Gold (BTG) is the fork of Bitcoin that which occurred on October 24, 2017 on the block 419406. Bitcoin Gold has changed the proof-of-work algorithm of Bitcoin from SHA256 to the Equihash by rendering a specialized mining equipment which is obsolete in an attempt to democratize the Bitcoin mining process.
- Decred: Decred (DCR) which is an open-source of Bitcoin fork that which places an emphasis on the development funding, the on-chain governance, and the consensus mechanisms.
- Augur: Augur (REP) is meant to harness the wisdom of people through the prediction markets on a protocol which is owned and operated by the holders of the Ethereum-based reputation token.
- Omisego: OmiseGO (OMG) is a public Ethereum-based financial technology which is for use in the mainstream digital wallets. OmiseGo enables a peer-to-peer value exchange system and its payment services are agnostically across the jurisdictions and the organizational silos, and also across both the fiat money and the decentralized currencies.
- Qtum: Qtum (QTUM) which is a Proof-of-Stake (PoS) of the smart contract blockchain platform and is the value transfer protocol. In PoS, the node operators are rewarded for validating the transactions.
Now, please check the following infographic on 33 Cryptocurrencies described in four words or less by
our friends at mrbtc.org .
