WHAT ARE SOME OF THE BIGGEST CRYPTO ASSETS?
Let’s take a look at Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Stellar and Monero.
Bitcoin is the best-known crypto asset but there are hundreds more! It can be overwhelming to try and understand all of them. Luckily, you don’t need to, let’s start with some of the best-known crypto assets like Ethereum, Ripple and Litecoin.
What are some of the biggest crypto assets?
Bitcoin is the best known crypto asset but there are hundreds more! It can be overwhelming to try and understand all of them. Luckily, you don’t need to, let’s start with some of the best known crypto assets:
Bitcoin. Bitcoin was the very first cryptocurrency and was created in 2009 by an anonymous programmer called Satoshi Nakamoto. Despite intense media speculation, no one knows the real identity of Satoshi. They could be a man, woman, or more likely, a small dedicated group of cryptographers. Either way, it’s a mystery!
Bitcoin started to gain mainstream attention in 2017. The value of 1 Bitcoin went from US$1000 in January to a high of almost $20,000 in December. That price increase is why lots of people started showing interest in crypto.
Ethereum. Ethereum’s vision is to create a world computer that allows anyone to run their own decentralised applications without a third party. This is a revolutionary idea.
Why? Because it would mean that instead of companies like Facebook controlling our data, the decentralised platforms of the future would mean we get the same services and more… without the need for a huge company in the middle.
Ripple. Ripple is designed to allow global financial institutions to make fast, cheap, instant money transfers. You know how it takes days to move money from country to country? Ripple wants to make that process instant.
Bitcoin Cash. Bitcoin Cash was forked from Bitcoin in 2017. Bitcoin Cash was created by a group of developers who believe that the Bitcoin block size should be bigger in order to allow for lower fee transactions.
EOS. EOS is a smart contract / decentralised applications platform. It’s a competitor to Ethereum.
Litecoin. Litecoin is one of the oldest cryptocurrencies and was created in 2011. Litecoin is designed for fast cheap payments.
Stellar. Like Ripple, Stellar wants to make global payments instant. Ripple focuses on payments between institutions, while Stellar is focused on payments between individuals.
Monero. Monero is designed for anonymous, untraceable transactions. Many people think that Bitcoin transactions are anonymous. This is not the case! A blockchain is a public ledger that records how much was sent from one address to the next. Anyone can check this ledger. That’s one reason for the emergence of privacy focused cryptocurrencies like Monero, Dash and Zcash.
Those are some of the biggest crypto assets. In our next video we’ll look at how to learn more about different crypto assets…