Different Types of Cryptocurrencies in the World
A very large collection of data in binary form is called Crypto. Crypto is also identified in the world as a crypto currency. These currencies were first released keeping in mind the future they can have in the world of tech and the effect they can have in the investment industries. Just like the imagination of the founders of the different types of cryptocurrencies it actually happened. In the real world now crypto Currencies are considered to be having the potential of acting as a great alternative to the different types of investments for investors of big projects.
Cryptocurrency is one of the most profitable and at times much more losses than expected
It is seen that a person who invests in cryptocurrencies does that after high-level inspection about the future of the currency they want to invest in. This is mainly because there are fluctuations in the values of the cryptocurrencies depending on different aspects such as the mode of transaction that this cryptocurrency uses, the demand of that particular type of cryptocurrency in the technology market, the value of the cryptocurrency in the initial stages and many more. All these factors need some inspection before making any kind of big money investment.
The impact of cryptocurrencies in the real world
Cryptocurrencies turned out to be one of the most successful business ideas in the world of technology. Nowadays thousands of cryptocurrencies are implemented in the real world and have shaken the world of technology. Some of the cryptocurrencies get lost in the market and some become way too successful. There are cryptocurrencies named Shib-a-inu which is considered to be a flop and also that it will never reach the one United States Dollar mark and cryptocurrencies named Bitcoin are rocking the whole world. Cryptocurrencies are showing their impact in every field of the world and not only in technology. The growth of business and entrepreneurship is because of these cryptocurrency systems.
From all of these things, we can understand that cryptocurrencies have shaken the whole world and have increased the privacy of people in any way. People making transactions through cryptocurrencies cannot be traced which helps them to remain anonymous and keep the risks of frauds happening real less. If we see then this has actually impacted the world in both good and bad ways because it actually helps to keep the identity of people anonymous but it also increases the risks of illegal transactions without any chance of getting traced. So as we know every coin has two sides so does the technology of cryptocurrencies but the side of the good impacts is heavier than the bad ones.
The Different Types Of Cryptocurrency
There are many cryptocurrencies. All of those currencies are different in values and also by names. They were founded by different people and all those founders are having the same goal but with different approaches towards achieving the goal. Below we are going to talk about the most popular and valuable cryptocurrencies that are ruling the world and will mention all the requirements about those cryptocurrencies. The different types of cryptocurrencies are:
Bitcoin ( also known as BTC)
Bitcoin which we also know as BTC (abbreviation of the full name) is right now the most popular cryptocurrency in the whole world. The cryptocurrency was founded by an unknown person or it might as well be a group of unknown people who were using “Satoshi Nakamoto” as their official name. It was first founded in the year 2008 and the implementation of the cryptocurrency that is rocking the world now was started in the year 2009.
The implementation of Bitcoin or BTC was first done in the form of an open software source. At the moment of writing the article the value of 1 Bitcoin is roaming around 60000 United States Dollars which is incredible and good for long-term investments.
Litecoin (also known as LTC)
Litecoin which we also identify as LTC was first discovered keeping an idea of the Bitcoin (BTC). The main founder of the cryptocurrency name Litecoin is Charli Lee and this project of creating the Litecoins was licensed under MIT / X11 license. The year of the release of the Litecoins was 2011 which was just 3 years after the release of Bitcoin.
As per the measurements of the market capitalization, it is seen that this cryptocurrency named Litecoin or LTC is the sixteenth largest cryptocurrency in the whole world. There will be no more than an 84million tokens of Litecoin under circulation. The value of Litecoin in the year 2021 is about to touch the 200 United States Dollars mark, as of writing the article the price of Litecoin is exactly 194.70 United States Dollars.
Ethereum (also known as Ether)
Ethereum which people around the world popularly identify with the name Ether is another popular cryptocurrency. It works on the process of the open-source blockchain. The name of the person who founded Ethereum or Ether is Vitalik Buterin Gavin Wood. This cryptocurrency was initially released in the year 2015 on the 30th of the month of July. The developers of this cryptocurrency are Ethereum Foundation, Nethermind, Hyperledger, EthereumJS, and OpenEthereum.
As of writing the article the price of the cryptocurrency is over 4000 United States Dollars and to be exact right now the price of the cryptocurrency named Ethereum is 4441.92 United States Dollars.
Ripple
Ripple is a cryptocurrency that was formed with the purpose of it serving the people as a gross settlement system. Precisely it served to settle gross in real-time. The cryptocurrency named Ripple was founded by a technology company named Ripple Labs Inc. in the United States of America. Apart from being a system of real-time gross settlement it also works as an exchange for currencies and also as a network of remittance. There is no specific date known about when this cryptocurrency named Ripple was released but it was in the year 2012 that Ripple was implemented in the open-source market. The price of Ripple is not very high and the price is less than even 1.5 United States Dollars which is nothing if compared with the other three cryptocurrencies mentioned.
Bitcoin Cash
Bitcoin Cash is the cryptocurrency that is a forking of the most popular cryptocurrency in the world that is Bitcoin or BTC. The cryptocurrency named Bitcoin Cash was founded by Craig Wright who also claims to be Satoshi Nakamoto which was the unknown person or organization that was the founder of the original Bitcoin in the year 2008.
Bitcoin Cash is relatively a newly founded cryptocurrency as compared to the cryptocurrencies that are mentioned earlier in the list. It was in the year 2017 that the cryptocurrency named Bitcoin Cash was released. As of writing the article the value of Bitcoin Cash has taken a dip in the last few days and right now that is while writing the article the price of Bitcoin Cash is exactly 583.93 United States Dollars.
Cardano
The cryptocurrency named Cardano is one of the best performing cryptocurrencies around the whole world in the year 2021. The founder of this cryptocurrency named Cardano is Charles Hoskinson. The initial release that is the first time when the implementation of Cardano was done was on the 27th of September in the year 2017.
The developing organizations of the cryptocurrency named Cardano are Cardano Foundation, EMURGO, IOHK. It is predicted that by the end of the next year that is by the end of the year 2022 Cardano will hit the 10 United States Dollars mark but as of writing the article the price of Cardano is a little bit less than 2 United States Dollars.
Dogecoin
The interesting thing about the cryptocurrency named Dogecoin is that it was actually made as a joke. This cryptocurrency was made to make fun of the wild speculation about the future of cryptocurrencies in the world. Despite the satirical story behind the founding of the coin, many consider Dogecoin to be a great investment for the long term in the world of crypto. Even the symbol of Dogecoin is taken from a popular dog meme that is used all around the world, we identify that meme with the name of Doge.
The founding members of the cryptocurrency named Dogecoin are Billy Markus and Jackson Palmer who are both engineers in the field of software. The coin was first released in the year 2013 on 6th in the month of December. It is believed that the price of Dogecoin will hit the 1 United States Dollar mark by the end of the year 2021 and as of now the price of Dogecoin is around 0.6 United States Dollars. Even the world’s richest person Elon Musk thinks that Doge is a great investment.
Conclusion
This article mentions cryptocurrency and the impact of this new financial technology on the whole world. This also mentioned the cryptocurrencies that are rocking the whole world at the moment.
