All you need to know about Bitcoin, Ethereum, Ripple, Litecoin and others. Learn why it is different from regular currency.
Bitcoin – $ 10,518.60
Bitcoin is one of the most famous cryptocurrency today. Since the beginning of 2017, its value is growing rapidly: the price of one bitcoin has risen from about $ 1.000 to almost $ 10.000. Cryptocurrency is in the first position not only in price per unit but also regarding market capitalization — $ 177 billion.
One can explain the popularity of Bitcoin by the fact that this is the first currency of its kind. Bitcoin was the first to introduce the principle of decentralization — a concept where the currency does not belong. No financial or any other institution control it. It was Bitcoin that provoked the appearance of a huge number of the same cryptocurrencies that exist nowadays.
Ethereum — $ 963
Ethereum — the second cryptocurrency regarding market capitalization (almost $ 93 billion) and the fourth at a price for one unit. The peculiarity of the Ethereum consists in «smart contracts» — the ability to register transactions with any assets within the framework of detachment. «Smart contracts» is the technology that replaces traditional legal procedures.
Now the cost of the Ethereum is about $ 963. For several months in 2017, the price of the currency remained at around $ 10, but at the end of November, the cost of the Ethereum jumped to the current.
Ripple — $ 1.28
Ripple is a global system of mutual settlements, which allows you to transfer almost any currency to anywhere in the world in seconds. Compared to Ripple, traditional ways of money transfers through SWIFT or Western Union seem outdated. At the moment, Ripple is fully focused on working with banks, offering them a more efficient and economical way of making remittances in real time around the world. Market capitalization is $ 49 billions, whereas the price of currency is $ 1.28.
Bitcoin Cash — $ 1 569
Bitcoin Cash separated from Bitcoin, the most popular cryptocurrency in the world, on Tuesday, August 1. This is because some of the miners (those who provide their computing resources for the mathematical task of verifying and implementing bitcoin transactions) and bitcoin owners did not install the software to migrate to the new SegWit2x protocol. Market capitalization is $ 26,5 billions, whereas the price of currency is $ 1 569.
Litecoin — $ 172.96
Litecoin is the currency of the Litecoin system, created in October 2011. The system itself resembles Torrent. That is, all computers where the program is installed (which is a Lightcoin-wallet) are combined into a single network and can exchange electronic currency among themselves. All this is decentralized and anonymous.
This cryptocurrency is based on Bitcoin technology. But it did not think of it as an analog, but more like the evolved from Bitcoin. Market capitalization is $ 9 billions, whereas the price of currency is $ 172.96.
Dash — $ 726.08
Among the features of Dash cryptocurrency is the availability of private, i.e., secure, PrivateSend and InstantSend transactions. Decisions on any changes in the Dash are a common vote of the currency owners. This mechanism is called decentralized governance, and Dash developers became the first among their competitors who introduced such a principle.
Over the past eight months, the price of a unit of currency has increased significantly. If in January 2017 this indicator was at $ 10, now one Dash costs about $ 726. Market capitalization is $ 5.6 billions.
Zcash – $ 423.67
The main difference between Zcash and Bitcoin is the protection of information. The work of Bitcoin based on a traditional lockbox, where each record in the network contains data on the amount of the transaction, the sender and the recipient. Zcash uses a zero-disclosure protocol to confirm transactions without disclosing additional information about them.
After all, Zcash costs about $ 423.67. Market capitalization is $ 1.3 billions.
NEM — $ 0.94
NEM (New Economy Movement) means «a new movement of the economy» or «movement for a new economy». In this cryptocurrency, according to many, there is the philosophy of equal opportunities and financial freedom. It is decentralized and international. The whole world builds it. Nevertheless, it carries a wide, and according to some reviews, unlimited opportunities.
This digital currency became known in 2015, at the very beginning. Its feature is that unlike many, it was developed on entirely original open source code and became the “initiator” of some exciting and useful innovations. Take at least the POI algorithm, by which it functions. NEM costs about $ 0.94. Market capitalization is $ 8.52 billions.