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Get to know the world's top 5 cryptocurrencies
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muhammadridha46
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the news I got about the big currency.
amp.kontan.co.id/news/mengenal-5-cryptocurrency-paling-top-dunia
In recent times, we must have heard about the bitcoin rally that is fairly massive throughout this year. And surely we've read about other crypto currencies, such as litecoin and ethereal, which are also experiencing price hikes.
Currently, there are about 1,300 crypto currencies in the world. A number of bitcoins dominate the market, and some other digital currencies only make waves.
CNBC has compiled a brief guide on five world-renowned cryptocurrencies made on the basis of its market capitalization or value in the world, and its performance this year, and what the differences are.
All increases in market capitalization and data from the beginning of the year to date (year to date / ytd) are very accurate as of December 14, 2014.
Bitcoin
Market capitalization: US $ 275.1 billion
hike ytd: 1.590.5%
Bitcoin, found in 2009, is the largest cryptocurrency by value. A report released by Satoshi Nakamoto, the mysterious founder of bitcoin, outlines the project's goals. The original document states that bitcoin is a "versipeer-to-peer of electronic money that allows online payments to be sent directly from one party to another without going through a financial institution."
This transaction runs on a technology known as blockchain, which is a massive book of digital activity that can not be tampered with. This transaction can be said to be decentralized because there is no central authority regulating bitcoin circulation. Instead, networks called "miners" with high-powered computers work together to verify transactions through complex
But because of the frenzy surrounding bitcoin, the transaction time keeps jumping, which may conflict with the original purpose of cryptocurrency. While Nakamoto calls bitcoin as electronic money, many experts call it "digital gold" and say that it can be a long-term savings.
Currently, some retailers in Japan have started receiving bitcoin as a means of payment. There are even some real estate companies that also accept bitcoin. However, there is little evidence of the use of bitcoin by the general public for payment.
Ethereum
Market capitalization: US $ 71.1 billion
Increase ytd: 8,812.6%
Ethereum is the name of a blockchain company that has created a digital token ether. But ethereum and ether are now used interchangeably to refer to the crypto currency.
Ether is supported by blockchain, almost the same as bitcoin, but the technology is slightly different and is intended for special use cases: smart contracts.
For example, financial trading agreement. It relies heavily on each side of the deal that has a paper or digital copy of the contract and needs to update it separately. Of course this is difficult and error prone.
But smart contracts are contracts written in code into blockchain. Once the terms of the contract are met by each party, an agreement will be made.
Many large organizations are experimenting with the ethereal block. A consortium called the Ethereal Enterprise Alliance, which includes companies such as Microsoft and JPMorgan, is developing use for the Ethereal blockchain.
Cryptocurrency ether is required by developers who want to create applications in blockchainEthereal and by users who want access to interact with smart contracts on the platform.
Bitcoin cash
Market capitalization: US $ 33 billion
Increase since created in July 2017: 229.6%
Bitcoin cash was created in the middle of this year after a bitcoin split.
Those who have bitcoins at that time receive a bitcoin cash tokens for free. The bitcoin cash rally has not been as dramatic as other cryptocurrencies.
Many developers are concerned about the high transaction time in bitcoin networks. As a result, they propose solutions that can increase the size of each transaction and therefore increase the speed. But not all members of the community agree with the proposal, resulting in disunity.
Groups that support bitcoin cash say transaction time is faster than the original bitcoin.
Ripple
Market capitalization: US $ 21.8 billion
Increase ytd: 8,479.8%
Ripple markets itself as a cross-border payment solution for major financial institutions based on blockchain technology.
At this time, international payments may take several days at a very high cost. The big challenge for banks is high-volume, but low-value transactions. For example, the types of payments that Facebook may pay to app makers. These transaction fees are often expensive and unprofitable for the bank because it requires a lot of effort to move money and the percentage of the deductions will not be as high as the larger transactions.
Ripple tried to solve this problem through his technology. The start up has been tested with a number of financial institutions, including American Express and Santander.
Ripple's digital currency, known as XRP, can be used by companies to get the instant liquid required in high-value transactions, without paying any fees.
XRP acts as a bridge between fiat currencies during the transaction. Ripple says, transactions in XRP can be completed in four seconds, faster than the current cryptocurrency.
Litecoin
Market capitalization: US $ 16.5 billion
Increase ytd: 6,859.6%
Litecoin is probably the toughest rival of bitcoin in terms of its use. Its founder, Charlie Lee, on many occasions said cryptocurrency can be used for payment because it is faster than bitcoin.
Litecoin transactions take no more than two minutes, compared to the average transaction of bitcoin which is almost 300 minutes.
Litecoin supply is limited to 84 million litecoons, compared with 21 million for bitcoin. Currently, 54,293,533 litecoin and 16,740,175 bitcoins are circulating in the market.
"Litecoin is very similar to bitcoin, except four times more litecoit coins, and litecoins are also four times faster," Lee told CNBC in a TV interview earlier this week.
"I think litecoin is more targeted towards payments, faster transactions and lower costs," he explained.
this is four international currency price has not been equaled
