Good day steemian
Those who are not familiar with cryptocurrencies may think all the cryptocureencies are same ,with perhaps some slight differences in their price.
But this is far from the fact.
Most crypto have fundamental difference in function and code, as well as in price and market cap and a number of other key differences.When a digital token comes out, it must have some sort of value assigned to it base on certain factors.
First of all take a look at the most popular and highest value crypto, bitcoin.
Bitcoin is a peer-to-peer digital cash system protected from double spending using the blockchain.It hold no special function except to be accepted as a form of decentralized value by its pundits.
And then Etherium, it's was proposed by Vitalik Buterin and was designed to take bitcoin blockchain concept a step further,it's allowing companies to use its Etherium blockchain to make decentralized application.
Next is Litecoin, it's claim to be complementary to Bitcoin as well as to have faster transaction confirmation time.It's also claims that it's blockchain can handle a higher transaction volume in future without modify their software, will see about that.
The other crypto is Monero, was created end of 2014.Monero was designed as a straight forward cryptocurrency, it's also claim that it's wallet is extremely secure. It run on Windows,Mac,Linux,Android and Freebsd.
Image source: google
Then we go for Zcash, according to their website it's claim that Zcash is first open permisionless cryptocurenncy that can fully protect the privacy of transaction using zero-knowledge cryptography.
Did you noticed that Iconomi is listed in coinmarket?The Iconomi is a digital currency investment platform,allowing people or group to invest in cryptocurrencies.It used digital asset to invest.
The other token is CIVIC, is a decentralized
identity protection app.The token is used between users.
And last but not least is STEEM, as we all know that steem is a blockchain-based social media platform where anyone can earn rewards.Blog get paid with its tag, steemit.com bringing the world for a new era of media social platform.
references:
https://coinmarket.com
https://bitcoin.com
https://TechCrunch.com
https://news.bitcoin.com
https://coindesk.com
This is a few sampling of crypto but as you can see, they are very diverse in most every way.Other differences may include like block reward,coding open source or not and etc.
I hope you enjoyed reading and thank you.
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Thanks for the education. Crypto currencies are evolving at a very fast rate , there would soon be a crypto currency for everything you can think of.
Thank you.
Dint mention dash and neo :)
Soon..
Each crypto is modelled to solve a particular social problem on value measurement and settlement of debt.
thank you@ahmedsteem for sharing this information. nice knowledge
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