How is cryptocurrency classified

Financial charts show the increasing trend of cryptocurrencies in the digital world on a daily basis. Bitcoin remains the leader. Demand for it is rising, so the price of bitcoin is rising, making it difficult to obtain. However, besides bitcoin, there are also other digital currencies that come together with bitcoin in crypto ratings.



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Bitcoin was reportedly created by Satoshi Tamato in 2009. Until now, bitcoin is a digital currency created by teamwork if its creator is a tech genius. Bitcoin was created as a type of transaction that executes transfers much faster than any state financial institution. At the same time, bitcoin is decentralized, meaning that the state has no control over it. As of the end of 2017, the price of bitcoin reached $ 15,000, with capitalization exceeding $ 220 million.

Lightcoin was created by a former Google employee, Charlie Lee. LightCoin is distinguished from other cryptocurrencies by the speed of transactions. Usually used in commercial transfers of Laitcoin. The Laitkin system was launched in 2011. Laitcoin is often referred to as the "silver bitcoin." There are several differences between Litcoin and Bitcoin. For example, Litcoin makes transactions faster than Bitcoin. However, in terms of mining, lightcoin is not easy to obtain. In Mining, the Litcoin crypto algorithm (FPGA and ASIC) complicates its extraction, while the bitcoin algorithm uses the SHA-256 mechanism. By the end of 2017, Laitcoin was ranked sixth in the top ten of cryptocurrencies. Its price was $ 220 and its capitalization was $ 12 billion.

The cryptocurrency ripple appeared 6 years ago. Like Litecoin, Ripley also provides instant transfers. Due to the fastest transfers, there are solid banks in Ripley's customer list. The largest financial institution such as Bank of America is Ripley's client. It should be noted that, unlike most cryptocurrencies, Ripley is a centralized digital currency. Apart from banks, Ripple is an active customer of American Express. At the end of December last year, Ripple's price was just $ 2 and 12 cents, with a capitalization of $ 82 billion.

Dashi was created in 2014. He is a two-level cryptocurrency. This means that new levels of blocks are created at the first level, which Meiner himself caters to. As for the second level, it consists of the relationship between the "masternodes" operator and the miner. The point is that 90% of the "rewards" received during mining are divided between the miner and the operator. The remaining 10% is sent to special financial projects or so-called "financial" projects. In the Treasury system. Dish transactions are anonymous like other cryptocurrencies and only those involved in the transaction have access to the information. As of the end of 2017, Deshi was valued at $ 1008, with a capitalization of more than $ 7 billion.



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After Bitcoin, ethereum is popular. Ethereum is a decentralized online services platform based on Blockchain technology. Unlike other cryptocurrencies, Ethereum Blockchain is actively working on "smart contracts". Ethereum's "smart contracts" allow for any transaction to be registered with any asset stored in the Blockchain contracts database. The use of “smart contract” does not go beyond traditional legal procedures. The key principle of "smart contracts" is the complete automation, agility and reliability of contractual relations between the two entities. According to The Economist magazine, a new era of financial-technology has begun in the world of "smart contracts". Recall that at the end of last year, ethereum was worth $ 721 and its capitalization dropped to $ 69 billion.

Bitcoin cash was created in the summer of 2017. Cryptocurrencies are, of course, different from the bitcoin peer-to-peer protocol. Bitcoin cash was released under the Segwit2x protocol. With this program, the volume of bitcoin block increased from 1MB to 2MB. On August 1, 2017, everyone who owned bitcoin received the same amount of bitcoin cash. In the same year, Bitcoin cash capitalization exceeded $ 41 billion, reaching $ 2 459.

IOTA unlike all other cryptocurrencies does not have Blockchain. It works all the way through the Tangle network. The purpose of IOTA is to be a communicator between different organizations. Its own IoT (Internet of Things) is an Internet network that enables communication and exchange of information. As planned, in the future IOTA will be a way for not only people but also smart devices to interact with one another. Currently, a major feature of IOTA is that IOTA transactions are free. IOTA was worth $ 3 billion at the end of 2017, with capitalization of over $ 9 billion.

In addition to these cryptocurrencies, there are dozens of digital currencies, however, the top 10 cryptocurrencies are always listed above. Importantly, the fact that users are demanding that the crypto ratings change at any time.

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