History of Cryptocurrency
ryptocurrency first is Bitcoin. Bitcoin was created in 2009 by a pseudonymous developer named Satoshi Nakamoto. Bitcoin uses SHA-256, which is a cryptographic hash function designed by the US National Security Agency. Bitcoin is a cryptocurrency based on proof of work systems.
In April 2011, Namecoin, the first altcoin, was created to form a decentralized DNS to make internet censorship more difficult. In October 2011, litecoin was released and became the first successful cryptocurrency to use scrypt as a hash function and not SHA-256. This gives people the ability to mine litecoins without purchasing certain hardware such as ASIC machines which are usually used to mine Bitcoin.
Litecoin began to receive media attention at the end of 2013 - achieving a market capitalization of $ 1 billion. Ripplecoin, created in 2011, is built on the same protocol as Bitcoin but services as a payment system - think of it like Paypal for cryptocurrencies that support fiat currencies, cryptocurrency, commodities or even frequent flier miles.
Cryptocurrencies & Market Capitalization
Bitcoin is the biggest cryptocurrency in both market capitalization, volume, acceptance and fame, but it's not the most valuable coin. NEMstake, while only having a market capitalization of $ 1,116,720, trades on $ 1,117 coins. Looking at the market capitalization, litecoin occupies the second position after Bitcoin and Ripple close behind.
One coin that you know more and often hear is dogecoin. Ranking Dogecoin has an average of three percent of trading volume, but has a relatively low market capitalization - ranking number six among the largest cryptocurrency.
In April 2011, Namecoin, the first altcoin, was created to form a decentralized DNS to make internet censorship more difficult. In October 2011, litecoin was released and became the first successful cryptocurrency to use scrypt as a hash function and not SHA-256. This gives people the ability to mine litecoins without purchasing certain hardware such as ASIC machines which are usually used to mine Bitcoin.
Litecoin began to receive media attention at the end of 2013 - achieving a market capitalization of $ 1 billion. Ripplecoin, created in 2011, is built on the same protocol as Bitcoin but services as a payment system - think of it like Paypal for cryptocurrencies that support fiat currencies, cryptocurrency, commodities or even frequent flier miles.
Cryptocurrencies & Market Capitalization
Bitcoin is the biggest cryptocurrency in both market capitalization, volume, acceptance and fame, but it's not the most valuable coin. NEMstake, while only having a market capitalization of $ 1,116,720, trades on $ 1,117 coins. Looking at the market capitalization, litecoin occupies the second position after Bitcoin and Ripple close behind.
One coin that you know more and often hear is dogecoin. Ranking Dogecoin has an average of three percent of trading volume, but has a relatively low market capitalization - ranking number six among the largest cryptocurrency.
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