WELCOME BACK EVERYONE ONCE AGAIN!

WE HOPE THAT YOU ALL ARE DOING WELL!

WE ARE BACK WITH ANOTHER POWERFUL BLOG!

WHAT IS

“CRYPTO

CURRENCY?”

  • Cryptocurrency is an internet-based medium of exchange.
  • It uses cryptographic functions for financial transactions.
  • A cryptocurrency is a digital asset designed to be used as a medium of exchange.

HOW DOES IT WORKS?

  • Firstly, the respective transaction is put on the request.

  • Further, block is forwarded to each node present in the network.

  • The miners verify the transaction.

  • Further, the data is placed in form of data block in blockchain.

  • Next, the block is merged into current / running  blockchain.

 

  • And finally, transaction gets concluded.

 

HERE WE GO NOW FOR KNOWING ABOUT TOP 5 CRYPTOCURRENCIES TO INVEST IN:

 

1. ETHEREUM:

  • Ethereum is a relatively new company that has risen in the ranking.
  • Because of its superior technology and ability to create “smart contracts”.
  • Ethereum is the cryptocurrency of the Ethereum blockchain.
  • It is a technologically advanced version of Bitcoin.
  • It does not hold the identity of “digital gold.”
  • It relies on a series of contracts.
  • For example, online buyers and sellers can establish transactions that can only take place when the postal service independently verifies delivery of the goods.
  • SPECIFICATIONS:

  • Establishment Year: 2015
  • Returns in 2020: 470%
  • Market Cap: $100 billion

2. BITCOIN:

  • Bitcoin is regarded as the most frequently used cryptocurrency.
  • It is also considered as to be the volatile asset.
  • Bitcoin is considered as to be the  first successful cryptocurrency  to lead the trend.
  • Bitcoin has also become the de facto cryptocurrency for mainstream investors.
  • Institutional investors can use the Chicago Mercantile Exchange (CME) to trade millions of dollars in futures.
  • SPECIFICATIONS:

  • Establishment Year: 2009
  • Returns in 2020: 309%
  • Market Cap: $600 billion

3. XRP:

  • XRP is centralized cryptocurrency.
  • It costs high in inter bank transfers.
  • XRP is considered to be the consistent currency in 2021.
  • XRP was created by Ripple Labs and is a centralized currency.
  • On the one hand, it gives the token the advantages of Visa (NYSE: V and other centralized payment processors).
  • These include the ability to negotiate with large banks, quickly execute transactions and control policies.
  • SPECIFICATIONS:

  • Establishment Year: 2012
  • Returns in 2020: 16%
  • Market Cap: $13 billion

4. STELLAR (XLM):

  • Stellar is the cryptocurrency, offering low cost and cross border transactions.
  • When BITCOIN was lagging behind, STELLAR XLM was the one who grabbed that position by aggregating to 200% January.
  • SPECIFICATIONS:

  • Establishment Year: 2014
  • Returns in 2020: 189%
  • Market Cap: $5 billion
Image courtesy: Bitbay

 

5. CARDANO(ADA):

  • It is the  largest 3rd generation cryptocurrency.
  • ADA running on the Cardano network is one of the most technologically exciting cryptocurrencies to date.
  • Its proof-of-stake system means it can operate more efficiently than a standard proof-of-work system.
  • Its use of smart contracts means that it can track transactions.
  • Such as Bitcoin while processing payments such as Ethereum.
  • In short, it is a third-generation token, an improvement over its predecessor.
  • SPECIFICATIONS:

  • Establishment Year: 2017
  • Returns in 2020: 441%
  • Market Cap: $8 billion

Image courtesy: Kryptomoney

WE HOPE THAT YOU ALL MUST HAVE GAINED A POSITIVE PIECE OF INFORMATION.

KINDLY SHARE THIS BLOG FURTHER & DON’T FORGET TO COMMENT BELOW YOUR FAVOURITE CRYPTOCURRENCY.

THANK YOU!💯

 

 

 

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