Cryptocurrency Wisdom

 

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