The different types of Cryptocurrencies, a simple guide on the top 5 must know Cryptocurrency coins in 2018. Read on to know more in 3 minutes.
Cryptocurrency is quite a technological craze in 2017 to 2018. It’s a decentralized digital currency that enable transactions to be conducted swiftly at zero or low cost with greater anonymity. In short, making transactions of any value more efficient than traditional fiat transactions.
There are around 3000 Cryptocurrencies now that promises in some way or another to do the above. Some Cryptocurrencies have strong blockchain foundation powering the technology, some have great utility for better functionalities, others are just there to join the bandwagons.
Cryptocurrency is a digital currency that uses cryptography for better security and provides anonymity
for users. It is purely digital, without any physical coins or notes.
Cryptocurrency uses blockchain technology to store an online ledger of all transactions. It also provides a platform to transact and to mine which could not be altered or hacked. Every transaction is mined and verified by the ledger of each user in the market, making it almost impossible to forge false transactions entries. Cryptocurrency is also decentralized and distributed across multiple networks of thousands of computers, aka decentralized network instead of a central computer or server like traditional institutions.
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