cryptocurrency


What Is a Cryptocurrency?

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain 
technology—a distributed ledger enforced by a disparate network of computers.

 A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.


Understanding Cryptocurrencies

Cryptocurrencies are systems that allow for the secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system.
 "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions.


Types of  currency explained

Digital currency is designed to work as a medium of exchange. 
There are many different types of cryptocurrency,
The first blockchain-based cryptocurrency was Bitcoin, which still remains the most popular and most valuable.

 Today, there are thousands of alternate cryptocurrencies with various functions and specifications. 

Some of these are clones or forks of Bitcoin, while others are new currencies that were built from scratch.
but these eight are among some of the more well-known currencies.

Bitcoin(btc)

One of the most commonly known currencies, Bitcoin is considered an original cryptocurrency. It was created in 2009 as an open-source software.

The author of the whitepaper that established this digital currency was under the pseudonym Satoshi Nakamoto.. More read

Ethereum (ETH)

Created in 2015, Ethereum is a type of cryptocurrency that is an open source platform based on blockchain technology. 


While tracking ownership of digital currency transactions, Ethereum blockchain also focuses on running the programming code of any decentralized application, allowing it to be used by application developers to pay for transaction fees and services on the Ethereum network... More read


Litecoin(ltc)

Litecoin was launched in 2011 as an alternative to Bitcoin. Like other cryptocurrencies, Litecoin is an open source, global payment network that is completely decentralized, meaning there are no central authorities.


Ripple (XRP)

 Ripple was released in 2012 that acts as both a cryptocurrency and a digital payment network for financial transactions. It’s a global settlement network that is designed to create a fast, secure and low-cost method of transferring money.


Ripple allows for any type of currency to be exchanged, from USD and Bitcoin to gold and EUR and connects to banks, unlike other currencies.


Ripple also differs from other types of digital currencies because its primary focus is not for person-to-person transactions, rather for moving sums of money on a larger scale.


Bitcoin Cash

Bitcoin Cash is a type of digital currency that was created to improve certain features of Bitcoin.

Bitcoin Cash increased the size of blocks, allowing more transactions to be processed faster.

Ethereum Classic

Ethereum Classic is a version of the Ethereum blockchain. It runs smart contracts on a similar decentralized platform.


Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interface.

Like Ethereum, it provides a value token called “classic ether,” which is used to pay users for products or services.

Zcash (ZEC)

Zcash is a digital currency that was built on the original Bitcoin code base.

Conceived by scientists at MIT, Johns Hopkins and other respected academic and scientific institutions, it was built on a decentralized blockchain.


A core feature and differentiation of Zcash is an emphasis on privacy. While not a function available to investors on Equity Trust’s platform, users can send and receive Zcash.

Stellar Lumen (XLM)

Stellar lumen is an intermediary currency that facilitates currency exchange.


Stellar allows a user to send any currency they own to someone else in a different currency.
Jed McCaleb founded the open-source network Stellar and created the network’s native currency in 2014.

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