What is cryptocurrency and its top types

What is Cryptocurrency & Its Main Types

In this modern time , the earth has changed the mood of life. This time is the time of invention & change. Just as Currency also wants to change like all other things. As technology progresses day by day , the use of currency is going to become digital .

Technology has changed the way  of working ,living & business of people .In the past people purchased goods by goods.Later on the invention of currency has changed the lives of people . And now people don't want to use cash. The people started to pay online instead of cash.Probably everyone familiar with Bitcoin.Bitcoin is the mother of digital currency . Digital currency is free from the bound of bancks. It is peer to peer transactions.

What is cryptocurrency 

The prefix crypto-stands for  " cryptography" ; it is a technology that " keeps & saves the internet from attackers .

In the present days , computer operators use cryptography in different ways in computers , one of them is called cryptocurrency. 

Decryptionary.com 

Defines cryptocurrency  as" an electronic money created with technology controlling its creation and protecting transactions , while hiding the identities of its users.

So the definition of cryptocurrency clearly tells the readers it works on technology . All the matters about cryptocurrency deals on the computer. No need to go to the bank for transactions .All the transactions about cryptocurrency are based on blockchain.

 Main types of cryptocurrency 

Now we will discuss  three main types of cryptocurrency that are

•  Bitcoin                                   

• Ripple 

• Ethereum 

• Bitcoin cash

• EIS

Now we will discuss in detail above mentioned cryptocurrencies 

Bitcoin 

Bitcoin is the first and largest cryptocurrency. It was first introduced in 2008 . As time goes it is becoming more and more famous. About 17 million BTC are circulating , according to coinmarketcap.com . In 2013-14 Bitcoin progressed rapidly for the first time and then it went on its peak again in 2017 .

How  does Bitcoin  work ?

Bitcoin is basically a computer file which works in a digital wallet  that a consumer holds in computer or mobile applications. Everyone can send his Bitcoin to others through a digital wallet. 

 Ethereum 

Ripple  is another famous cryptocurrency. It has second position among cryptocurrencies.It is significantly smaller as compared to Bitcoin.  The worth of one digital ethereum is $500 .There are over 100 billion tokens are circulating in the market

Ripple  

Ripple is the third one in the list of cryptocurrency. If we talk about the total worth of capitalization is over 19 $ million in the market. Over 39 billion tokens of ripple .If we talk about its price , it is amazing you can buy it in just 50 cents .

Bitcoin cash

Bitcoin cash,the spin- off of Bitcoin  which launched as a result of a hard fork, is at 4th position in the list of cryptocurrency. Total amount of this coin in the market is over $14 billion. The price of one coin is $843 and over 17 million tokens are circulating in the market.

EOS

EOS is circulating at number five in the list of cryptocurrency. It has about 8 billion marker caps.and about 9 million tokens are circulating in the market.