1.What is cryptocurrency?
A
cryptocurrency, crypto-currency, or crypto is a digital asset designed to work
as a medium of exchange wherein individual coin ownership records are stored in
a ledger existing in a form of a computerized database using strong
cryptography to secure transaction records, to control the creation of
additional coins, and to verify the transfer of coin ownership.
More than 6,700 different
cryptocurrencies are traded publicly, according to CoinMarketCap.com
2.What is Bitcoin?
Bitcoin is a cryptocurrency. It is a
decentralized digital currency that is based on cryptography. As such, it can
operate without the need of a central authority like a central bank or a
company. It is unlike government-issued or fiat currencies such as US Dollars
or Euro in which they are controlled by the country’s central bank. The
decentralized nature allows it to operate on a peer-to-peer network whereby
users are able to send funds to each other without going through
intermediaries.
3. What is Ethereum?
Ethereum is a global, open-source
platform for decentralized applications. In other words, the vision is to
create a world computer that anyone can build applications in a decentralized
manner; while all states and data are distributed and publicly accessible.
Ethereum supports smart contracts in which developers can write code in order
to program digital value. Examples of decentralized apps (dapps) that are built
on Ethereum includes token, non-fungible tokens, decentralized finance apps,
lending protocol, decentralized exchanges, and much more.
4.What is Ripple?
Ripple is a privately-held fintech
company that provides a global payment solution via its patented payment
network called Ripple Network (also known as RippleNet). RippleNet is a payment
network that is built on top of Ripple’s consensus ledger, called XRP Ledger
(also known as XRPL). Ripple funded the development of the open-source XRP
Ledger.
Unlike most cryptocurrencies out
there that cater to peer-to-peer needs, Ripple was made to connect banks,
payment providers and digital asset exchanges, enabling real-time settlement
expeditions and lower transaction fees.
5.What is Dogecoin?
Dogecoin is a cryptocurrency based on
the popular "Doge" Internet meme and features a Shiba Inu on its
logo. Dogecoin is a Litecoin fork. Introduced as a "joke currency" on
6 December 2013, Dogecoin quickly developed its own online community and
reached a capitalization of US$60 million in January 2014. Compared with other
cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100
billion coins were in circulation by mid-2015, with an additional 5.256 billion
coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had
been mined.
Dogecoin was created by Billy Markus
from Portland, Oregon and Jackson Palmer from Sydney, Australia. Both wanted to
create a fun cryptocurrency that will appeal beyond the core Bitcoin audience.
Dogecoin is primarily used as a tipping system on Reddit and Twitter where
users tip each other for creating or sharing good content. The community is
very active in organising fundraising activities for deserving causes.
The developers of Dogecoin haven’t
made any major changes to the coin since 2015. This means that Dogecoin could
get left behind and is why Shibas are leaving Dogecoin to join more advanced
platforms like Ethereum. One of Dogecoin strengths is its relaxed and
fun-loving community. However, this is also a weakness because other currencies
are way more professional.
To purchase Dogecoin, it involves
downloading a crypto wallet, setting up a crypto exchange account and then
trading away for your desired crypto currency. Once we have set up an account
with a DOGE currency exchange and deposited some funds, you are ready to start
trading.
Other Cryptocurrency:-
· Ethereum (ETH)
· Litecoin (LTC)
· Cardano (ADA)
· Polkadot (DOT)
· Bitcoin Cash (BCH)
· Stellar (XLM)
· Chainlink.
· Binance Coin (BNB)
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