Cryptocurrency is a digital currency in which encryption techniques are used. It works independently to regulate the generation of units of currency and verify the transfer of funds. There are so many types of cryptocurrencys are available. Today I will shed some light on Bitcoin and Steem dollar.
Bitcoin is a worldwide accepted cryptocurrency. It is a peer to peer electronic cash system. It was developed by Japanese Satoshi Nakamoto. It was released as an open source software in 2009. No central bank or personnel is needed to control the transactions of Bitcoin. It is the first developed cryptocurrency based online financial system. It's being very much popular nowadays. The value of Bitcoin is growing day by day against US dollar. Bitcoin is being a award for a process called 'mining'. But interestingly, the creator of Bitcoin remains unknown.
Steem is another type of blockchain based cryptocurrency which has been used in Steemit, a social network platform. The ticker symbol of Steem dollar is SBD. It runs through the proof of work system. SHA-2 algorithm is being used by this cryptocurrency. It's being very much popular through the Steemit platform. It was first announced on 24th March 2016. It is faster than Bitcoin and Ethereum.
Both Bitcoin and Steem dollar are peer to peer based system electronic currency which deposits financial values online. But there are some difference between Bitcoin and Steem dollar. Those are given below: ( Left part is for Bitcoin and Right part is for Steem $)
That's all for today. I will be back with something new informations. Till then be healthy. Thank you.
