All Crypto currency are Not created equal. There are some amazing underlying block chain technologies behind your creation. Some were made ‘just because’, or as a joke. Some were part of a detailed pyramid scheme. Some are very useless because they are considered as useless – any crypto currencies valuable only by the public audience as the value given to them.
Crypto currency, or digital currency, is an invention of the Internet. Actually, someone thought, “Hey, what if we can make a system where money is not geographically connected to the internet” and take and see, now we have 3,000 crypto calculators.
Bitcoin:- introduced a peer-to-peer network based decentralized currency system, where currency is not issued; Instead, it is mined by cracking difficult math-based equations with advanced computers. Bitcoin can be called trendsetter, because its success has inspired the launch of many other virtual currencies (more than 150 crypto currencies). Bitcoin -induced currencies are collectively called altcoins and have tried to present themselves as reforms and revised versions of bitcoin. These currencies are easy for me, but there is more risk in terms of lower liquidity, acceptance and value retention. Here are many of the five digital currencies given.
Litecoin:- The world’s second largest crypto currency was started in 2011. It was created by Charlie Lee, an MIT graduate and former Google engineer, and can be described as the second-in-command of Bitcoin. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses “script” as proof of work, which can be decoded with the help of a consumer-grade CPU. Compared to Bitcoins, Light Coins have a faster block generation rate and more per block.
Darkcoin:- Darkcoin is a more secret version of Bitcoin, although bitcoin are unknown than conventional money, yet there is a record of all the transactions made in an accounting “blockchain” which can reveal a lot of information. Darkcoin provides more anonymity because it works on a decentralized master code network, which makes transactions almost unique, started in January 2014, darkcoin time is an increasing fan in short time. This crypto currency was created and developed by Evan Duffield and it can be mined using a CPU or a GPU.
Ether:- Crypto currency for ether Ethereum, is a decentralized platform that can run peer-to-peer smart contacts until September 2016 and as a result of the attack on DAO, Ethereum was divided into 2: Ethereum (ETH) and Etheram classic (ETC).
Monero:- Bitcoin is often labeled incorrectly as ‘anonymous’ currency (not it). On the other hand, Monero, a crypto currency that focuses on privacy – using ring signature techniques, Monero is ‘safe, private and invisible’
At fourth place with $ 138 million in market capitalization, Monroe is used by most people to remain secret on the web.
Known for: being a privacy-centric cryptocurrency
Note: The ranking was taken from CoinGecko, a website that ranks cryptocurrencies by developer activity.