Bitcoin and other digital cryptocurrency in the global market

How many cryptocurrencies are there in the world

at present, there are more than 1350 encrypted virtual currencies in circulation in the world. So far, according to the total valuation given by the market price, there are 23 virtual currencies with a valuation of more than US $1 billion, 97 with a value of more than US $100 million, and 573 with a market value of more than US $1 million. All in all, the total market value of virtual currency has exceeded US $5 trillion, of which bitcoin, the earliest invention, accounts for more than half. Players generally admit that bitcoin is not the most effective cryptocurrency, nor is it the most covert and anonymous. However, bitcoin is the first one to appear, so it is the most well-known and popular one

so the question is, does the world need more than 1350 cryptocurrencies

even the players of virtual currency will doubt this. No matter how strange the world is, there cannot be so many virtual currencies. In fact, there are so many new ICO virtual currencies emerging in recent years, which complement the "Crazy" performance of bitcoin in this year. Most of these 1300 kinds of virtual currencies can't be recognized by everyone. From the beginning of ICO, there will be many loopholes that no one will fill. When there is a major adjustment in the virtual currency market, many of them will disappear automatically, which means that no one will go to mine any more

this also leads to a problem. When some of the cryptocurrencies have problems, the entire instry chain and market of virtual currency may be involved like dominoes. Even the strongest bitcoin now will also be involved, because the cryptocurrency, in the final analysis, is supported by the "belief" of players

why is bitcoin worth more than other cryptocurrencies

at the time of writing this article, the total value of bitcoin is about US $270 billion, the total value of cash of bitcoin is about US $31.7 billion, and the market value of bitcoin gold is US $5.17 billion. Since bitcoin cash and bitcoin gold are separated from bitcoin, in a broad sense, they should be counted as a part of the total value of bitcoin (of course, you can't refute me technically, just for a rough explanation). Once we add up all the branches of bitcoin, we can calculate the market value of more than $310 billion. As a result, bitcoin accounts for about 60% of all cryptocurrencies in the market

as I have repeatedly said in recent days, bitcoin is not the most effective cryptocurrency, the most advanced, the most anonymous, or even the most stable cryptocurrency. So why is bitcoin so valuable compared with other virtual currencies

it's very simple, because bitcoin has a catalytic factor, that is, the Chicago Board of trade, as well as the commodity exchange, began to trade futures as a "commodity". Then, you will naturally think that since it has been recognized by the futures exchange, will it be further recognized by the US government in the next step. Other virtual currencies are still struggling

however, we have always stressed that since the day bitcoin was traded as a "commodity", its real monetary role, like gold, has been very weak in reality, but as one of the procts of gambling. This means that we all do bitcoin as a speculative activity, rather than a real use

judging from the current situation, bitcoin is no longer the only virtual currency that soars as soon as there is news of "official support". It is like iota, a virtual currency that focuses on the principle of the Internet of things. The news of cooperation with Microsoft came in the last two weeks, and it immediately rose to more than $300. Later, Microsoft came out and said that there was no such thing, and iota immediately fell back. It can be seen that in the future, as long as the virtual currency is recognized by some big company or organization, it will soar like bitcoin

Now there are nearly 2000 kinds of cryptocurrencies in the world. Although it is useless to recognize all of them, we still need to know a little about the mainstream currencies in the world. Besides bitcoin, what is the mainstream cryptocurrency? At present, Ethernet is the second largest mainstream cryptocurrency after bitcoin. Ethereum is the name of currency used in Ethereum, which is also the abbreviation of blockchain 2.0 in Ethereum. In Ethereum virtual machine, Ethereum is used to pay the calculation fee. Through blockchain technology, everyone can build and use decentralized applications on the platform, which is the most widely used currency at present

bitcoin cash is a hard forked blockchain of bitcoin and forms a competitive relationship with bitcoin. Bitcoin cash is the best developed bitcoin fork currency. Many people think that it is a stock with only potential, and even can replace bitcoin. However, opponents believe that bitcoin cash is entirely in the interests of miners. Although the block size has been increased by 8 times, the isolated witness that will rece the mining income has been abandoned. Although changing the size of buildings can solve the congestion problem, many people think that it is a temporary solution rather than a permanent solution, which is of little significance to the development of blockchain technology

EOS is a blockchain architecture platform similar to the operating system developed by Daniel Larimer. This project aims to create a blockchain underlying platform with strong performance and low development threshold, just like Microsoft's windows. EOS even surpasses Ethereum's intelligent contract. The transaction speed is extremely fast. It can support millions of transactions per second, making Ethereum unable to catch up. EOS doesn't need to be mined, and adopts a more decentralized POS method. Many people think that EOS will be the star of tomorrow

According to analysts at Goldman Sachs, bitcoin can become a legal and widespread form of currency, but it is mainly possible in theory

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