CRYPTO CURRENCY DEFINITION
crypto currency are virtually programmed currency which can operate without banks. Crypto currency was launched in 2009 and bitcoin is the first decentralised crypto currency. Later join was many more smaller fragments that was derived from bitcoin and is call altcoins.
The value of crypto currency deviate often because of the rising demand, expanding application and technology been used.
Bitcoin
The original and the biggest market capitalisation. It was launched in 2009 by Satoshi Nakamoto, a name of the person or group who created it, to secure payments across a peer-to-peer network. It aims to eliminate the need for a trusted third party, democratise money and ensure that transactions are anonymous.
Best merit
Bitcoin remain the highest valued crypto currency
Worse demerit
It has slow transaction speed
Ripple
Ripple is of RippleNet –it is used by major banks and financial institutions . Ripple operates differently to other digital currencies, which has led some to question its credentials as a true decentralised cryptocurrency.
Merit
Fast transaction speed
Demerit
Riplenet can be used without it's digital coin, riple.
Bitcoin cash
bitcoin cash is created to substitute bitcoin. This is because of the slowdown in bitcoin transaction speeds and the network’s inability to reach proposed upgrades. Bitcoin cash compared to 1mb for bitcoin, enabling it to process more transactions each second.
Merit
faster than bitcoin
Demerit
requires specialist mining equipment
Litecoin
Litecoin is programmed to be ‘silver to bitcoin’s gold’. And just as the supply of silver outstrips the supply of gold, Litecoin’s maximum supply of 84 million coins is four times greater than bitcoin.
Merit
fast transaction speeds
Demerit
low market capitalisation compared to bitcoin
Stellar
It is a crypto currency that work like riple . It is for lumens . It plays an anti-spam role, as each transaction requires a small transaction fee, which is paid for in the cryptocurrency.
Merit
Banks use it to process transactions in multiple currencies
Demerit
not widely recognised as other
