Business & Investment

5 cryptocurrencies you should know

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You may just have heard Bitcoin, But in reality there are many different types of cryptocurrencies.There are many digital assets that make up the rest Cryptocurrency market..

Take a look at 5 different cryptocurrencies worth having on your radar.

Cryptocurrency type

Before we dive in, it’s worth explaining a few things. Cryptocurrency If you’re not a computer programmer, it can be a fairly complex topic.

The important thing to keep in mind is that most cryptocurrencies are designed to be used as digital tokens on certain networks.

There are competing types of cryptocurrencies, but their price is only a small aspect. The companies, organizations, and foundations behind these technologies are trying to create primarily useful digital networks and marketplaces, as well as coins for trading on the Internet.

Here are five important cryptocurrencies you should know about.

1. Ethereum (ETH)

Ethereum (ETH) is a cryptocurrency used in the Ethereum network. It is the second largest cryptocurrency on the market and Bitcoin’s biggest rival. The name of the platform and programming language is Ethereum.

Ethereum, among other things, was created by programmer Vitalik Buterin and was released in 2015. It uses blockchain and is open source, but the design is more sophisticated than Bitcoin.

The idea is to use Ethereum for smart contracts and distributed applications (DApps). This may sound complicated, but it basically means that different parties interact in an efficient and secure way to create a way to do business.

Many of the cryptocurrencies available actually run on the Ethereum network. Ether prices have risen by more than 90% since the beginning of the year and are now around $ 1,400. This is similar to the highs reached in 2018.

2. Cardano (ADA)

Launched in 2015 by Ethereum co-founders, Charles Hoskinson, Cardano and its token ADA are also available for smart contracts and DApps. You can think of it as an Ethereum competitor. Indeed, ADA is a type of cryptocurrency similar to ETH.

It is interesting because it is the only blockchain peer-reviewed and developed by academic experts in this field. The Cardano team is stuck not only making money from ADA tokens, but also changing the world.

Their goal is to create a faster and more efficient network than Ethereum. Cardano’s ADA cryptocurrency has a very high supply, with a current price of $ 0.37 per coin, well off the high of $ 1.18.

3. Litecoin (LTC)

Designed to be an improvement over Bitcoin, Litecoin aims to become a global payment network. Launched in 2011 by Charlie Lee, this is a payment-oriented type of cryptocurrency. If Bitcoin is digital gold, the expectation for Litecoin is to be digital silver.

Litecoin’s programming structure makes it faster and easier to get than Bitcoin.The idea is to use this altcoin For small transactions, there is a coin limit that is almost four times that of Bitcoin.

Litecoin prices have been positive by more than 28% this year, up to about $ 150 per coin, but still well below the record high of $ 350.

4. Stella Lumen (XLM)

This is an open network focused on moving and storing money. Stellar uses a cryptocurrency token called Lumens (XLM). This is another financial type of cryptocurrency. However, the purpose of Stellar is to make it easier and cheaper for financial institutions to trade assets and the like across national borders using XLM cryptocurrencies rather than targeting individuals.

The purpose of the network is to work with fiat currency (ordinary money), not to replace it. Their ambitious goal is to make the global market more fluid, open and less crowded than it is today.

The price of XLM tokens has risen more than 130% this year to $ 0.31. Like many others, it’s still far from the highest price of $ 0.87.

5. IOTA (IOTA)

Launched in 2016, the main goal of the IOTA Foundation is to use the IOTA cryptocurrency to enhance the Internet of Things (IoT). This means a transaction between machines. IOTA uses a technology called Tangle instead of blockchain. This is another approach, as most blockchains have speed and scalability issues.

Too many transactions can clog the blockchain. IOTA’s Tangle design makes it faster for more users. Also, since there are no miners, there are no transaction fees. This can be very useful in networks with many small transactions.

The· IOTA Foundation We are already partnering with large car makers like Jaguar Land Rover and cities like Taipei, Taiwan.

IOTA’s price has risen more than 60% this year to $ 0.48. However, this is still far from the highest price of $ 5.25, so there is probably plenty of room for the price to grow again.


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5 cryptocurrencies you should know

https://www.fool.co.uk/mywallethero/5-types-of-cryptocurrency-you-should-know-about/ 5 cryptocurrencies you should know

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