It is a known fact that we all are swamped up with the digital world, with every aspect in the world being digitally driven, currency was the least expected among all as we always wished to have currency in the form of paper, metal, or assets. By generating cryptocurrency, the digital world is at its supreme level, which is ready to take the world off of its feet any day now.
And the reason why there is a whole research and analysis being carried out, is due to its importance and there are few best dissertation writing services UK based that talks about the significance of digital currencies and other advanced topics.
What are the features of Crypto Currency?
- CryptoCurrency uses the technology of cryptography which means securing your information with codes
- To make the currency decentralized it uses the technology of blockchain, which generates the record that cannot be changed without the concern of the rest of the network.
- In cryptocurrency block mining is carried out, which connects all the new transactions to the old ones in a block just to ensure that each gets access to their transaction record only.
- Since it is not a centralized model of currency, therefore the transaction can be completely anonymous.
- Once the transaction is done, there is no U-turn! The transaction made will remain unchanged.
Following are the known kinds of Crypto Currencies:
- Bitcoin Cash
- Ethereum Classic
There are more kinds of cryptocurrencies but these are known and most in use. In the upcoming digital era, cryptocurrencies are predicted to rule the world as it ensures maximum security, investing in currencies can be hard but don’t sweat it as this post will guide your way to select which currency is best to invest in.
Bitcoin VS Ethereum VS Ripple
Bitcoin – the unorthodox fiat money:
The world’s first cryptocurrency is Bitcoin which was invented back in 2009 by Satoshi Nakamoto. Metaphorically, it can be taken as the queen bee of all the digital currencies as it is the pioneer digital currency. And experts say that “It is a cryptocurrency which can be relied upon, and with the Lightning Network in infancy stages great things are coming.” Bitcoin has a market of almost $192.96 billion and the experts referring this currency as digital gold. Bitcoin has been on the top because of its distinctive economics. With being the most practice digital currency the ratio of its supply is a lot lesser as there is a limited supply of only 21 million coins. Limited supply intensifies the demand among the people. Bitcoin covers over 60% of the total market share which sets a benchmark for itself.
Ethereum – not the best alternative but the best coin:
Ethereum was launched in 2015 by the Swiss with a core concept of creating software that follows the technology of cryptography. And that software has its cryptocurrency known as ether, which has close to 114 million with market capital up to $83.80 billion which works as the asset for the network itself. It may not be designed with the core purpose of exchange, but it was intended to create a platform for software houses that wish to carry out their functions on cryptography. And it has managed to create platforms without fraud, interventions, and control from other parties for smart contracts and DApps. Cryptocurrencies experts said that “Ethereum has the potential to one day rival Bitcoin itself.”
Ripple – revolutionized step of digital banking:
Ripple was launched in 2012 by the US with innovation to provide a block chain platform for the currency exchange and remittance system that uses its own currency XRP to transfer the value across the network. Ripple was initiated with a thought to make the transactions less costly with maximum speed. With a total market cap of $35.42 billion, its actual goal is to replace the swift banking system for international transactions. The competition of bitcoin is not with the other coins or fiat currencies as it works as a bridge between the cryptographical transactions.
All digital currencies have their unique selling point and in which coin to invest depends on what kind of returns you expect. With that being said the best kind of investments can be and should be made in bitcoin, as it is the pioneer of the digital currency and solely works under the concept of exchange and not like other currencies that carrying out different aims by following the technology of cryptography and it has the highest rate of return among all the coins. Buy dissertation online UK, after this ethereum can be worth investing in as everything going online and technology-driven becomes the force pull for the investors because through ethereum one can get secured and efficient software.