The state of cryptocurrency
Crypto currencies in recent times have become the major currency used mostly in advanced nations where technological advancement is at its peak. The currency itself is like an invinsible currency which cannot be touched, felt but can be used for various payments and exchanges across various platforms. To our own surprise we all trade forex someway or somehow without been aware of it.
We all involve in forex trading indirectly as the money we deposit in banks are used by these banks to trade thier own forex and as a result make huge profits from its proceeds. The trend of digital or crypto currencies are well known in advanced nations across europe, asia, north and south america with few nations from africa also hugely involved in cryptocurrency trading. Let’s take a look at the top cryptocurrencies.
As expected in this reserch, bitcoin is the top traded and most used crypto currency around the world with blockchain used as the bitcoin bank.
Bitcoin is known to be the largest crypto currency both in value and popularity among varoius traders. The bitcoin cryptocurrency has a system called mining. This mining is known as the process of making transactions which are verified and in turn added to the public bitcoin bank called blockchain. It is also the process of releasing new bitcoins.
Litecoin is another cryptocurrency used accross the world. Litecoin cryptocurrency was released on october 2011 which was actively influenced by the big Coin called ‘Bitcoin’. It was released as an open source project.
Ethereum is a crypto currency whose platform run under the blockchain system. It was first launced in 2014 and is now among the top currencies used.
Zcash is a type of currency that uses cryptography to provide highend privacy to its users. It was introduced in 2016. Its developments is led by zerocoin electric company. Zcash has its payments system published on public domains however user can opt to use a feature to protect the reciever, sender and the amount transacted to other users.
Ripple serves as a cryptocurrency and also as a payment system. It enables banks, users and investors to make transactions over the network. It reduces the amount spent on cross boarder money exchange and can handle exchanges of 1,500 per second.