for you who always follow the development of technology, the term Bitcoin may already sound familiar to your ears. Bitcoin is one of the most valuable cryptocurrency types in the world.
Cryptocurrency itself is an invention on the internet, which is a digital currency that operates independently without central bank intervention. The idea is how to create a system where money is not bound by geographic location, like the internet.
Digital Money with the Largest Market Capitalization
Bitcoin is the most discussed cryptocurrency, in fact there are 3,000 more types of digital currencies in the world. Quoted from Hongkiat, the following 7 cryptocurrencies with the largest market capitalization based on CoinGecko analysis.
Bitcoin
Bitcoin (BTC) is the first digital currency and touted as the best. Bitcoin was created by Satoshi Nakamoto and launched publicly in open source in 2009.
Bitcoin currently has the largest market capitalization of about US $ 15 billion. Usually most people use Bitcoin digital currency, before trying another because bitcoin has a good reputation.
In addition to Bitcoin, all other digital currencies are referred to as 'altcoins' (alternative coins). Bitcoin is known for being the first, the easiest to get, and the widest acceptance.
Ethereum
Many people are trying to rival the popularity of Bitcoin, but no one has succeeded in doing so. Until 2014, Vitalik Buterin created a platform called Ethereum.
The platform also has a virtual currency like Bitcoin, which is named Ether. With the help of several colleagues, he managed to raise $ 18 million in crowdfunding funds to fund the development of the platform. Currently, the value of all Ether in the world has reached US $ 942 million.
Ethereum is known for its ability to make payments by Peer-to-peer without the use of third parties.
Litecoin
Litecoin or LTC was officially released to the public in 2011. Cryptocurrency was created by a former Google employee, Charles Lee, with the goal of making better Bitcoin.
Like Bitcoin, Litecoin is used as the virtual currency for transactions of goods and services. Currently Litecoin has a market capitalization of about US $ 200 million, away from the highest peak of US $ 1.2 billion in 2013.
Monero
Bitcoin is often misinterpreted as an 'anonymous' currency, but it is not. Well Monero is a digital currency that focuses more on privacy, so Monero is safer and can not be tracked. The monkey is in fourth position with a market capitalization of about US $ 181 million. Monero is widely used by individuals who want to remain anonymous on the internet.
Dash
Dash is an extension of Digital Cash which was originally called Darkcoin and should be replaced for marketing purposes. Unlike Bitcoin and Litecoin, DASH uses the X11 algorithm that uses 11 different hash rounds, the algorithm is claimed to be faster and uses more efficient computer performance. Dash's market capitalization now is US $ 113 million.
Ripple
Ripple also known as XPR is a digital currency originally developed in private by Ripple Network to create a secure, easy, and fast payment system.
But by 2013, Ripple Network decided to make this project open source under the ISC license. Ripple uses the Consensus algorithm that enables distributed payment, exchange, and remittance processing.
Now the Ripple system has been integrated into multiple banks and payment networks to reduce costs. Ripplw's current market capitalization is US $ 234 million.
Zcash
Excess Zcash is able to encrypt transactions and amounts transacted, so it can not be traced.
Zcash itself is built on the basis of a cryptographic algorithm called zero-knowledge proof. This system allows users to prove that they have money without showing their identity or how much money they are willing to transact. Thus, users will have greater control over privacy in digital transactions.
Like any other asset (stock or property), the price of this digital currency can also rise and fall rapidly. We can invest to make a profit but can also risk losses.
