PRINCIPAIS CRIPTOMOEDAS

You must have heard of Bitcoin, right? Bitcoin is one of the currently existing cryptocurrencies. There are a variety of other types of cryptocurrencies, with different characteristics. We list the main ones on the market:

Bitcoin: Bitcoin (BTC) is the best known of the digital currencies. It was designed in 2008, in the midst of the global financial crisis that began in the American mortgage market, with the aim of replacing paper money, in addition to eliminating the need for banks to intermediate financial operations.

Bitcoin is traded on the internet, through the blockchain, which is nothing more than a database where all transactions between network participants are computed.

Although the information of those who participate is anonymous, Bitcoin is decentralized and open. Once validated, transactions are entered into transaction blocks – it is worth mentioning that, because of this validation, there has never been a Bitcoin fraud so far.

Each user has their Bitcoin stored in digital wallets – they are where it is possible to transfer and access cryptocurrencies. Just like any other currency, Bitcoin has daily changes and follows the law of supply and demand, that is, the greater the demand, the more valued it becomes.

Another point to take into account is that the Bitcoin price follows the dollar reference. Any change in the US currency impacts the value of Bitcoin in Brazil.

Ethereum:

The original digital currency was actually called Ether. In 2016, however, a hacker found a flaw in the system and from it managed to steal the equivalent of $50 million worth of Ether. Faced with doubts about the future of the currency, the community that maintained it chose to create a new network.

The original Ether was renamed Ethereum Classic, and the currency that began circulating on the new network was renamed Ethereum. With the support of the community, it is worth more than its first version.

Originally, Ether was not created to be a digital currency like Bitcoin. The idea was that it would become an asset to reward developers for using the Ethereum platform in their projects. It is a decentralized platform used to execute “smart contracts”, which are operations performed automatically when certain conditions are met. Today, Ethereum is among the most traded cryptocurrencies in the world.

It is worth noting that Ethereum is gaining prominence due to its ease of smart contract trading, which is part of its advantages. Allied to this, we cannot forget to mention its decentralization and blockchain technology. 

Ripple:

Ripple (XRP) is a distributed payment protocol created in 2011, and the currency of this system is XRP. A feature of the Ripple platform is to support other tokens representing traditional currencies and even other goods on its network. The idea is that the system allows you to make secure and instant payments.

It is not just a currency, but a system in which any currency – including the most well-known cryptocurrency, Bitcoin – can be traded.

To a certain extent, Ripple’s operation resembles to some degree that of banks, as it accepts various assets and facilitates transactions.

It is worth noting that Ripple does not rely on blockchain technology. So, for transactions to take place, a technology called Ripple Protocol Consensus Algorithm (RPCA) was created. Its operation is based on the agreement of everyone on the network so that someone can verify a transaction. In this way, XRP operations are cheaper and use less energy.

Among the main features of Ripple are the high speeds of transactions and scalability and the low costs in operations and energy expenditure in the generation of the network.

Binance Coin:

Binance Coin (BNB) was launched in August 2017 by one of the largest exchanges in the world, Binance. It was created to empower the cryptocurrency platform and boost its operations to establish a sustainable ecosystem.

Currency can be used for a few purposes, including paying the quote fee, exchange fee, trading fee or any other charges that a user may commit to the exchange.

In addition, it can also be used for IEO investments listed in the Launchpad section of Binance. These new coins will be listed on the Binance exchange, offering a complete marketplace for trading.