People
always keep asking me; What is Cryptocurrency? Bitcoin? Its value, it’s worth
and the new but confusing topic of Block-chain. Hence, today’s blog is all about
Cryptocurrencies and their values.
Started a decade ago, Cryptocurrency was initially hyped by Bitcoin. Known to
be created by Satoshi Nakamoto a computer programmer who had invented it. In
2008, he published a whitepaper: “A peer to peer electronic cash system” In
2009 the first software was released. The rest is history, the surge in bitcoin
over the decade has been exponential and taking advantage of block-chain, other
cryptocurrencies were created. Today Crypto is the hottest asset in the world.
Ranked
Crypto's in the world based on Market Value
BITCOIN:
BTC is a
decentralized cryptocurrency that works on cryptography. It operates with no
central authority and is not controlled by any central banks. It functions on a
peer-to-per network, and its decentralized nature allows users to send and
receive funds without any intermediary.
Stats: Market Rs 49,14,898 Cr.
2011-2013 |
$0.5 - $350 |
2013-1014 |
$350 - $530 |
2014-1017 |
$530 - $1290+ |
2017-2018 |
$2000 - $5013 -
$8100 |
2018-2020 |
$6500 - $3300 -
$9000 + |
2020-2021 |
$10,944 - $19,850 -
$31,000 |
ETHEREUM:
ETH follows
a block-chain protocol wherein the user does not need a third-party for sending
or receiving funds. It implements smart contract technology that enables
developers to build decentralized applications (aApps) on its block-chain.
Stats: Market Cap: Rs 9,80,856 Cr.
2020 - 2021 Rs 16,471 – Rs 1,01,000
RIPPLE:
XRP is the
cryptocurrency used on this payment network for making cross-border
transactions simple and fast. With Ripple, every transaction will only take 4
sec – far quicker than most other cryptocurrencies.
Stats: Market Cap: Rs 92,662 Cr
2020 - 2021 Rs 13.794 – Rs 50.8
TETHER:
USDT
coverts cash into digital currencies to replace the value of the coin to the
price of the national currencies like the US Dollar. Tether is a stable coin
which matches the value of the US Dollar and is used as digital dollars. Tether
is distributed on the TON, Omni and ETH Block-chain.
Stats: Market Cap: Rs 1,77,746 Cr.
2020 – 2021 Rs 71 – 88 – 75
BITCOIN CASH
BCH [ABC/A]
is a peer to peer cash system, created to overcome the two significant
challenges being faced by Bitcoin. The first being scalability- by increasing
the ‘block size’, it can process a higher number of transactions per second as
compared to Bitcoin. The second being the transaction fees-Bitcoin cash
transaction fee is lower than Bitcoin
Stats: Market Cap: Rs 65,989 Cr.
2020 – 2021 Rs 16, 054 – Rs 45, 550
LITECOIN
LTC is a
peer to peer cryptocurrency and is considered a Beta Version of Bitcoin.
Litecoin uses Proof of Work mining algorithm and is accepted by a variety of
merchants. It can be seen as silver to Bitcoin’s gold.
Stats: Market Cap: Rs 68, 949 Cr.
2020 – 2021 Rs 3,424 – Rs 14, 039
EOS
EOS is a
block-chain based system which enables the development of commercial scale
decentralized applications, o dApps on the EOS.IO Platform
Stats: Market Cap: Rs 18,850
2020 -2021 Rs 189 – Rs 202
TEZOS
XTZ is a smart
contact platform built on the block-chain network. Similar yet distinct than
Etherium, it aims to offer superior infrastructure that is future proof and
improves steadily without being at the danger of the hard fork.
Stats: Market Cap: Rs 15,434 Cr.
2020 – 2021 Rs 143 - 232
Other
Famous coins:
DOT, DOGECOIN, COMPOUND, DIGI-B, COSMOS, TRON
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