Ark virtual currency
2. Eth: smart contract and e-cash
3. BCH: Clone of bitcoin
4. XRP: enterprise transfer network
5. LTC: faster version of bitcoin
6. Dash: Clone of bitcoin with stronger privacy
7. Neo: Chinese version of Ethereum
8. NEM: Xinjing movement digital assets
9. XmR: anonymous digital cash
10 Etc: Ethereum clone
11, iota: Internet of things transfer
12, qtum: smart contract
13, OMG: banking, remittance, exchange
14, Zec: anonymous digital cash
15, BCC: Madoff like investment fund
16, lisk: distributed app written in Java
17, ADA: layered digital cash and smart contract
18, tether: US $1
19 XLM: IOU of digital cash
20, EOS: distributed app on webassembly
21, HSR: blockchain switch
22, waves: distributed exchange and crowdfunding
23, stratis: distributed app in C language
24, KMD: distributed ICO
25, ark: blockchain switch
26, ETN: cloned Monroe coin
27, BCN: anonymous digital cash
28 Steem: reddit voting with token
29, ardr: can generate the master chain of blockchain
30, BNB: compensate the transaction fee of coin security
31, augur: distributed forecast market
32, ppt: Bill financial system of blockchain
33, DCR: bitcoin with independent management mechanism
34, pay: digital currency payment card
35, Maid: rent hard disk space
36 Bitcoin disk: Clone XZC
37, BTS: distributed exchange
38, GNT: renting computer computing power
39, pivx: Clone dash without inflation
40, gas: payment of Neo transfer fee
41, TRX: payment within app
42, VTC: Clone bitcoin
43, Mona: Japanese dogcoin
44, FCT: distributed data record
45 Bat: distributed advertising network
46, salt: digital currency based mortgage network
47, KNC: distributed exchange
48, Doge: cute bitcoin clone
49, DGD: Gold digital monetization managed by the company
50, WTC: Internet of things blockchain
51, jiuzhuang bcbot
for a long time, Ethernet has been regarded as a strong competitor of bitcoin. It wasn't until Andreas antonopoulos claimed that Ethernet was no longer a competitor of bitcoin, which triggered a heated discussion on social networks
people begin to compare the two and discuss the differences in investment and transaction between the two digital currencies< According to Chris burniske, analyst and blockchain proct director of ark investment management company, bitcoin is more used for hedging, while Ethereum, which relies on Ethereum to execute smart contracts, is more seen as a trading tool
bitcoin and Ethereum systems are built on the basis of blockchain, in which transactions will be recorded publicly, making currency and asset transactions more convenient and preferential, eliminating the cumbersome middleman
in December 2015, the price of Ethernet currency was less than US $1, but now it has risen to US $15, nearly 15 times in just six months. This achievement is attributed to Ethereum, whose financial contracts are completely executed by software, which has attracted a large number of users to invest
with the previous example of Ethereum, the success of Dao (decentralized autonomous organization) is nothing to make a fuss about. The crowdfunding platform supported by Ethereum raised nearly $150 million from more than 10000 anonymous users. Each participant is given the right to vote, they can allocate funds, choose projects, once the investment project is successful, they can also get a certain degree of dividend reward< At present, there are 670 bitcoin ATMs in the world, and thousands of outlets support bitcoin payment. Unlike bitcoin, Ethereum has not yet emerged in the field of electronic payment. At present, the main purpose of Ethereum is to support Ethereum network (such as Dao) to run programs<
David ccini, executive director of the strength in numbers foundation, said:
users have different expectations for Ethernet and bitcoin. Both cryptocurrencies can be used for speculation, but the original function of Ethernet currency is to support the operation of applications. Therefore, users need enough Ethernet coins to run their own app. This is also the problem faced by Dao - unless Dao can continuously generate new Ethernet coins, the payment platform will be in danger of outage.
the ranking of digital currency can be measured according to multiple dimensions, such as market value, technical ability, landing in Cheng, 24-hour rise and fall, 24-hour turnover list, 24-hour turnover rate, etc. For the sake of data accuracy, we list the ranking of virtual currencies in the market value list<
let's first look at the data to see how the Ministry of instry and information technology measures the value of digital currency:
saidI Research Institute of the Ministry of instry and information technology officially announced the first global public chain technology evaluation index and ranking. Eth ranked first with a total index of 129.4, while BTC only ranked 13th<
moreover, the ranking method this time is that CCID Research Institute of MIIT does not mention cryptocurrency, but only public chain. The first list of evaluation objects are: bitcoin, Ethereum, reborn, Leyte, bitcoin cash, Cardano, starcoin, Neo, eota, Monroe, dasey, Xinjing, Ethereum classic, quantum chain, Nanor, application chain Big zero coin, verge, stratis, cloud storage coin, stim coin, bitstock, byte coin, wave coin, deced, super cash hcash, Comodo coin, ark. The top ten in the list are eth, stem, LSK, Neo, KMD, XLM, ADA, iota, XmR and strat<
If ranked by market value, the results will be much different: the following data are based on Niuniu app, and the market value represents the first place at the time of writing: bitcoin (BTC)
current price: 26428 yuan, market value: 460.018 billion yuan, total amount of CDB: 21 million, circulation volume: 17.406 million, and circulation market value: 460.207 billion yuan, Issue time: 2009.01.03
second place: XRP
current price: 236 yuan, market value: 95.192 billion yuan, total issue volume: 100 billion yuan, circulation volume: 40.327 billion yuan, circulation market value: 95.181 billion yuan, issue time: 2011.04.18
third place: eth
current price: 734 yuan, market value: 76.136 billion yuan, total issue volume: 104 million yuan, Circulation volume: 104 million, circulation market value: 76.136 billion, issue time: July 24, 2014
fourth place: Star currency (XLM)
current price: 98 yuan, market value: 18.834 billion, total issue: 104.523 billion, circulation volume: 19.155 billion. Circulation market value: 188.43 yuan. Issue time: 2014.08.01
fifth place: bitcoin (BCH)
market value: RMB 137.700 billion, currency price: RMB 810.175, total currency: RMB 21 million, bitcoin cash released on August 1, 2017, jointly created by some bitcoin developers, belongs to the new version of bitcoin. From 2015 to 2017, the price of bitcoin rose rapidly. Different factions competed fiercely for more computer network resources. In order to get out of the competitive environment, one camp created another version and rebuilt the blockchain currency. Bitcoin cash modifies the code of bitcoin, increases the block size to 8m, adopts two-layer network, reces the workload of bitcoin network, and maximizes the efficiency of bitcoin network without damaging the original structure and security of bitcoin blockchain
with the integration of the two exchanges of okex and Huo yuan.com, yuanniuniu can share the trading depth and enjoy the treatment of zero handling charge fund transfer. It only needs to download an app to exchange transactions at both ends. At the same time, yuanniuniu is also a good market software tool, which can help speculators master the latest currency price trends and large positions.
No, but it seems that it is difficult to explain in a few simple sentences. Let's study this ark article together
to expose the common myth of bitcoin
bitcoin has been established for more than 11 years and is striving to be widely recognized by institutions. Although constructive criticism is healthy, ark believes that some influential financial research institutions are refuting bitcoin based on outdated information, inconsistent arguments and flawed analysis
in view of Goldman Sachs' recent position on bitcoin, ark is reconsidering the most common misunderstanding, which has affected its acceptance. We look forward to participating in the health and ecational debate on bitcoin, as well as the important role we believe bitcoin should play in a diversified portfolio
According to ark, some influential financial research institutions are refuting bitcoin based on outdated information, inconsistent arguments and flawed analysis statement: bitcoin is too volatile to serve as a store of value. Counterclaim
: the volatility of bitcoin highlights the credibility of its monetary policy
critics often point out that the volatility of bitcoin is the "value store transaction breaker". Why would anyone want to store the price of an asset in such drastic fluctuations in daily prices
we believe that these critics do not understand why bitcoin fluctuates and why its volatility may decrease
although the fluctuation of bitcoin distracts opponents from evaluating its role as a value storage tool, it actually highlights the credibility of its monetary policy. The impossible trinity is the dilemma of macroeconomic policy. As shown in the figure below, the dilemma assumes that when setting monetary targets, the decision-maker can satisfy two of the three goals instead of three, because the third goal is opposite to one of the first two goals
source: Fangzhou Investment Management Co., Ltd. in 2020, each side of the three difficulties triangle is mutually exclusive. For example, monetary authorities that choose a fixed exchange rate and allow free capital flow cannot control the growth of money supply. Similarly, the monetary authorities that choose fixed exchange rate and control currency can not accommodate the free flow of capital, and the monetary authorities that choose to accommodate the free flow of capital and control money supply can not determine the exchange rate
based on the three dilemmas, we can understand why volatility is the natural result of bitcoin monetary policy. Contrary to the modern central bank, it does not give priority to exchange rate stability. On the contrary, based on the quantitative rules of money, bitcoin limits the growth of money supply, allows the free flow of capital, and abandons the stable exchange rate. As a result, the price of bitcoin is a function of demand relative to its supply. Its volatility is not surprising
that is to say, over time, the volatility of bitcoin is decreasing, as shown below. With the increase of adoption rate, the marginal demand of bitcoin should account for a small proportion of its total network value, so as to rece the price fluctuation. If all other conditions are equal, for example, a new demand of $1 billion with a market value of $10 billion or a network value, the impact of the price of the bitcoin should be greater than a new demand of $1 billion with a network value of $100 billion. Importantly, we believe that volatility should not rule out the main reason why bitcoin is used as a store of value, mainly because it usually occurs at the same time as a sharp rise in price
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
for a long time, the purchasing power of bitcoin has been greatly improved. For example, since 2011, the price of bitcoin has grown at a compound rate of about 200% per year. Although significant changes have taken place in the year, since 2014, the price of bitcoin has appreciated year by year at its lowest price. It's been a good year
source: Fangzhou Investment Management Co., Ltd., 2020. Source: Coinmetrics
claims: bitcoin bubble. Counterclaim
: bitcoin is a competitor for the role of global currency
, some economists like Nouriel Roubini (Nouriel Roubini) believe that bitcoin will suddenly disappear when it is in the bubble. The line of reasoning is that bitcoin has no intrinsic value, and its appreciation depends on speculation, such as a hot potato or tulip game, and the willingness of the "bigger fool" to pay a higher price. They believe that bitcoin is not an investable asset
we believe that this statement eliminates the reason why bitcoin has accumulated value over time. Yes, bitcoin doesn't behave like a traditional investable asset[ 1] The value of equity is determined by discounting the expected cash flow. Given the high future cash flow based on growth and / or investment capital gains, the stock appreciates independently of the shareholder base
However, monetary assets such as bitcoin are unproctive, and their appreciation depends on how they effectively maintain or increase their value over time. In a sense, the value proposition is cyclical: monetary assets will appreciate with the demand of more people, and if it is an effective monetary asset, more people will evaluate it. In other words, "money is a common illusion" and "money is valuable because others think it is valuable" The claim that the value of money depends entirely on the common illusion, however, indicates that the form of money is arbitrary. In fact, according to monetary history, the most common and sustainable currencies have the quality of maintaining their demand. For example, for thousands of years, because of its scarcity, substitutability and rability, economists have regarded gold as the most successful form of moneywe think that bitcoin is usually called digital gold, which not only has many characteristics of gold, but also can improve them. Although bitcoin is rare and rable, it also has the characteristics of divisibility, verifiability, portability and transferability. A series of monetary features of bitcoin endow it with outstanding utility, which is likely to promote demand, and believes that bitcoin is suitable for the role of global digital currency even if it is not superior
we believe that as a suitable competitor for the first batch of global digital currencies, bitcoin should at least attract demand similar to gold. However, contrary to the claim that it is in a huge bubble, the net value (or market value) of bitcoin is less than 2% of gold. p>
prediction is limited in nature, so it cannot be relied on
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
statement: bitcoin will lose the value of fork and digital . Counterclaim
: the value of bitcoin cannot be copied only by software
in the digital field, goods are invisible and can be easily copied without destroying the original goods. Indivials can send word documents extensively by e-mail, for example, while retaining the original . Similarly, thousands of people can listen to a song simultaneously and repeatedly, which actually improves the value of the original work, especially when other songwriters imitate its unique voice
Bitcoin software is no exception. It's free and open source. Indivials can software, "create network branches" and create their own versions. However, skeptics still question how scarce bitcoin will be if it is based on open source software that can be copied indefinitelyfirst, the bifurcated bitcoin network will not create new bitcoin units, just as the expansion of Venezuela's Bolivar will not add dollars to the US monetary base. Instead, bifurcated bitcoin creates a new network with new units or coins. Although existing bitcoin holders have the right to use new coins, the forked network operates under a set of independent rules supported by a single stakeholder. Open source software does not dilute the money supply of the original network. It not only encourages cheap experiments and new networks, but also encourages new tokens and competitive markets
the scarcity of bitcoin is crucial to its network. Today, the number of bitcoins has reached 18 million, which is measured mathematically to 21 million, as shown below. Each bitcoin is linked to a wallet at a time and cannot be copied. Importantly, the only way to control user bitcoin is to have access to its associated private key
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
so, when it forks, what makes 21 million units in bitcoin network more valuable than 21 million units in bitcoin cash (BCH) or BTC? To equate the value of bitcoin cash with the value of bitcoin is equivalent to assuming that Facebook's source code can "fork" and automatically the value of its 2.6 billion users and 50000 employees. Their value comes from the network effects of bitcoin and Facebook, not just their existence
as far as bitcoin is concerned, we believe that network effects include not only the efforts to protect the hash rate of the blockchain, but also the liquidity of bitcoin and the infrastructure supporting its adoption and use. If it is dilutive, then bifurcations will have to share bitcoin's computing power, users and liquidity. As shown below, bitcoin cash and other bifurcations do not seem to derail bitcoin's network effects
source: Fangzhou Investment Management Co., Ltd., 2020. Source: coinmetrics
claims that bitcoin is for criminals
counterclaim: bitcoin is anti censorship
critics still accuse bitcoin of allowing criminal activities because of its early evil activities. In its early years, bitcoin financed the Silk Road, an online black market platform known for selling illegal drugs
In our opinion, criticizing bitcoin for promoting criminal activities is one of its basic value propositions: censorship. As a neutral technology, bitcoin allows anyone to trade and cannot identify "criminals". It does not rely on centralized permissions to identify participants by name or IP address, but by encrypted digital key and address to distinguish participants, thus giving bitcoin powerful censorship ability. Anyone can trade anytime, anywhere as long as the participants pay the miners. Once secured, the transaction cannot be easily reversedif criminal activities can be censored on the bitcoin network, then all activities can be censored. On the contrary, bitcoin allows anyone to exchange value globally and without permission. This is not to make it an inherent tool of crime. Phones, cars and the Internet are no less powerful than bitcoin in promoting crime
In other words, it seems that only a small part of bitcoin transactions are for illegal purposes. According to chainalysis, the number of bitcoin transactions related to illegal activities is still less than 1%, which may be a contribution to the transparency of bitcoin. Any user can view the complete history of transactions on the Internet, which shows that physical cash is a better means of illegal activities