Internet coins are spoken about everywhere. The new generation of money is interesting not only for financial experts but for ordinary people who have never dealt with professional finance before. Of course the key question is what kinds of cryptocurruncy exist for the moment and what of them are the most popular. Not everybody knows that the first sample of cryptocurrency appeared in 2009 year. Nowadays there are approximately 800 types of it. In this article we’ll analyze the main ones.
Bitcoin is at the top of the cryptocurrency list. It was the first virtual coin in the world and was created by Satoshi Nakamoto. It is a pseudonym of a person or a group of programmers who presented Bitcoin on 3 January 2009. Due to the bitcoins the nature of money changes greatly. Financial resources don’t need any regulatory bodies and only complex mathematical algorithms determine their authenticity. Issuing money is a privilege of users. What should we know about bitcoins?
All users have the equal rights because the system is decentralized
Transfers of value between Bitcoins wallet are called transactions
The so-called blockchain unites all confirmed transactions
A private key or in other word “seed” is used to sign transfers
In the process of mining transactions are included in blockchains
Vitalik Buterin is the author of this one of the best cryptocurrencies. The talented programmer from Canada released Ethereum on 30 July 2015, but firstly it was announced in 2013. The system of Ethereum is based upon the blockchain technology as well and the secret of its popularity lies in the wide range of opportunities it gives its users. The significant one is that its blockchains depend on programming code of all decentralized applications, while the bitcoin needs one application.
If we have a look at list of digital coins we’ll see the Ripple on the first positions. This type of cryptocurrency was introduced in 2012. Its creators wanted to free money flowing and to decentralize digital currency. One of the Ripple authors David Schwartz is sure that new payment systems look like e-mails in the 80’s but soon they will be a usual thing for everybody. As for the working principle the Ripple is also based on mathematical formulae and doesn’t depend on a certain company.
It becomes clear from above that Bitcoin became an ancestor of many other types of cryptomoney. The list of all altcoins (the full title is “alternative coins”) is really huge and has a tendency to enlarge. Besides the name of a cryptocurrency (IOTA, Monero, Dash, Litecoin and many others) the table usually contains such information as symbols, current value in dollars and in BTC (bitcoins), amount and the year of its issuance. Some sources shows capitalization instead of value. Who this content is important for? Investors, companies, experienced miners and beginners watch coin raitings change because this data is very useful for controlling the market situation.