What are the advantages of cryptocurrency

1.

Digital cryptocurrency is a kind of currency that is not issued by legal tender institutions and controlled by the central bank. It is based on the open source code of a group of equations calculated by computers all over the world, and is generated by a large number of calculation processing of computer graphics card and CPU. It uses the design of cryptography to ensure the security of all aspects of currency circulation

development materials:

1. definition of digital currency:

   digital currency is abbreviated as digiccy, which is the abbreviation of "digital currency" in English and the alternative currency in the form of electronic currency. Both digital gold coin and cryptocurrency belong to digiccy< br />

   

2.

bitcoin (BTC)

issue date: 2009

market value: US $163 billion

advantage: as the first cryptocurrency issued, bitcoin is the world's largest and most popular blockchain network and the most experienced cryptocurrency that can resist hacker attacks

disadvantage: the increasing demand brings great pressure to bitcoin network, which makes the transaction cost high. The system can only process about seven transactions per second, but its power consumption is amazing. This is mainly e to its workload proof mechanism and consensus principle, which makes mining become a labor-intensive activity

eth

release date: 2015

market value: US $70 billion

advantage: its built-in programming language allows developers to write their own smart contract computer programs running on the blockchain. So far, most of the first token sales are based on Ethereum's smart contracts

Disadvantages: Ethereum also uses the consistency protocol of workload proof, so it is relatively slow and consumes a lot of power. Many early smart contracts are vulnerable to hacker attacks, and the development of smart contract security is still immature

XRP

issue time: 2012

market value: US $32 billion

advantage: XRP claims that its XRP cryptocurrency can become the "bridge currency" of major financial institutions, and can settle cross-border payments more quickly and at lower cost. Ruibo uses a new consistency protocol, which can achieve faster transactions, faster than t-coin and Ethereum

disadvantages: as a private company, Ruibo has important control over the system, some people think that XRP is not decentralized enough, which is in contrast to bitcoin, which anyone can mine

bitcoin cash (BCH)

issue time: 2017

market value: US $19 billion

advantage: this kind of currency is a "hard fork" of bitcoin, and its founder has adjusted compared with bitcoin, so that it can handle a larger transaction volume

disadvantage: critics say bitcoin cash is too centralized - a few miners create most of the money

lightcoin (LTC)

time of issue: 2011

market value: US $10 billion

advantage: lightcoin is a kind of "alternative currency" - almost a clone of bitcoin, but there are still several differences. Lightcoin processes transactions four times faster than bitcoin, and the mining process remains open to amateurs - very different from bitcoin, because bitcoin's professional miners use expensive hardware

disadvantages: although it is faster than bitcoin, lightcoin is still too slow and consumes a lot of power. These factors make it unable to become an ideal payment method, and there is another disadvantage: it is not very famous

recommend an article: brief introction of the top 100 currencies in the market value ranking of digital currency. This article summarizes the brief introction of the top 100 currencies in the market value ranking (according to the market value ranking of coinmarket cap on July 30, 2018), hoping to be helpful to friends who have just entered the currency circle

3. Bitcoin, Ethereum, bitcash, EOS, REBO, etc. are the mainstream digital currencies. They can be properly invested, and the transactions are risky. You can invest cautiously. You can search the fire coin, coin security, OK, dobby trading platforms on the Internet, and all of them can trade bitcoin. These are the relatively large trading platforms, investing in the mainstream digital currency Don't invest in counterfeit money or air money.

4. Bitcoin, of course, is the hottest one. In addition to bitcoin, there are also:
1. Litecoin is similar to bitcoin, which is also an encrypted digital currency, and its price has risen sharply recently. It is a P2P open source digital currency, which can be regarded as a branch of bitcoin. However, although lightcoin is based on bitcoin protocol, it does not require very high computing power. It can also be mined using ordinary computers. Lightcoin's algorithm comes from the algorithm designed by Dr Colin Percival for tarsnap secure online backup service (backup for Linux and other open source operating systems)
2. Namecoin
namecoin is also based on bitcoin, which is another branch of open source. Namecoin is a distributed DNS protocol -- generally speaking, it can transform the website name (such as ifeng. Com) that can be understood by human into the address that can be understood by machine. As its own DNS, this kind of currency can operate outside the normal Internet, so it can break away from the control of ICANN
the monetary value and domain name of namecoin are stored in the user's blockchain records, limiting the total number to 21 million
3. Peercoin
peercoin is a peer-to-peer variant of bitcoin, which can improve mining efficiency and security, and improve safeguard measures to avoid group mining. Now, group mining has been considered as a potential defect of bitcoin. According to the statistics of emerging currencies by coinmarketcap.com, peercoin currently ranks fourth in the market value of digital currencies
4. Primecoin
primecoin is a cryptocurrency similar to bitcoin, but it uses a completely independent mining algorithm. Bitcoin uses the hashcash algorithm, while prime coin uses the long Cunningham chains to create the value of money - a sequence of prime numbers named after mathematician AJC Cunningham
in the process of bitcoin mining, as the amount of money goes on, the difficulty will increase sharply. But prime is different. Every time a primecoin is mined, the mining difficulty will increase slightly, and the process is much more stable< 5. Feathercoin

based on the design of litecoin, released in April 2013, can adjust the mining difficulty more frequently than litecoin. Feathercoin will be updated frequently, adding new features and improvements to eliminate malicious mining behavior

6. Novacoin

another P2P digital cryptocurrency. Novacoin is different from most other currencies in that it integrates a protection mechanism in the currency core, which can identify illegal mining activities

the total number of novacoin is limited to 2 billion, which is considerable. If necessary, the total can be adjusted upward

7, infinitech

published in June 2013. A by-proct of litecain. According to the mining situation and the total amount of money, infinite money can frequently adjust the mining difficulty ratio< Megacoin was only released in the fourth quarter of 2013, imitating bitcoin in the early stage. The total number of megacoin is limited to 42 million, which can be mined like other virtual currencies. Its biggest selling point is brand publicity, which other digital currencies lack< It was released in 2013 and is still in its infancy. In the security part of quarkcoin, nine independent loops are deployed and six different algorithms are used.

5. There are many advantages of encrypted digital currency. Here are two

1. Secure
transaction of cryptocurrency on the decentralized platform of blockchain, the E-wallet used by it is authorized to send and receive cryptocurrency by the cryptosystem using the unique public key and private key. And the account does not need to be identified by a third party, so outsiders can not know the identity of the trader
2. Tamper proof
after the transaction on the blockchain is confirmed, it is tamper proof, and this kind of data is traceable, so the illegal elements can't cheat by deleting or modifying the records
you can learn about cryptocurrency through some media platforms, so I won't go into details here.

7. There is no legal platform for domestic foreign exchange trading. Do not participate in these unknown procts at will, which may cause great losses. Remember, unfamiliar procts and unfamiliar platforms, dare not casually invest.

8. My friend, first of all, you can find out what is virtual currency and what is digital currency!