What is Crypto?
A cryptocurrency is a medium of exchange that is digital, encrypted and decentralized. Unlike the U.S. Dollar or the Euro, there is no central authority that manages and maintains the value of a cryptocurrency. Instead, these tasks are broadly distributed among a cryptocurrency’s users via the internet. You can use crypto to buy regular goods and services, although most people invest in cryptocurrencies as they would in other assets, like stocks or precious metals. While cryptocurrency is a novel and exciting asset class, purchasing it can be risky as you must take on a fair amount of research to fully understand how each system works.
Bitcoin was the first cryptocurrency, first outlined in principle by Satoshi Nakamoto in a 2008 paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Nakamoto described the project as “an electronic payment system based on cryptographic proof instead of trust.” That cryptographic proof comes in the form of transactions that are verified and recorded on a blockchain.
Bitcoin was the first cryptocurrency, first outlined in principle by Satoshi Nakamoto in a 2008 paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” Nakamoto described the project as “an electronic payment system based on cryptographic proof instead of trust.” That cryptographic proof comes in the form of transactions that are verified and recorded on a blockchain.
What is a Blockchain?A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.
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Here's some of our favorite Cryptocurrencies and why:
1. Bitcoin (BTC) Market cap: Over $846 billion. Bitcoin (BTC) is the most traded and popular cryptocurrency in the world. In a crypto market of close to $2 trillion, Bitcoin accounts for about $750 billion of value as of March 11. 2. Ethereum (ETH) Market cap: Over $361 billion. There's consensus among crypto watchers that demand for ethereum will increase over time, based on a few variables, including “the reputation for being the most secure blockchain network, the scaling capabilities and the ability to process transactions faster but at much lower costs,” Zagari says. 3. Tether (USDT) Market cap: Over $79 billion. Detailed Descriptions here: 4. Binance Coin (BNB) Market cap: Over $68 billion. Detailed Descriptions here: 5. XRP (XRP) Market cap: Over $37 billion. Detailed Descriptions here: 6. Terra (LUNA) Market cap: Over $34 billion. Detailed Descriptions here: 7. Cardano (ADA). Detailed Descriptions here: 8. Solana (SOL). Detailed Descriptions here: |
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