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What Differentiates Cryptocurrencies

Bitcoin: What Is The Difference Between Bitcoin And Ethereum? - The Economic Times

Bitcoin: What Is The Difference Between Bitcoin And Ethereum? - The Economic Times

What is the difference between bitcoin and ethereum? Both offer anonymous transactions, and neither of the two is controlled or regulated by a centralised body. While both bitcoin and ether are cryptocurrencies, the ethereum blockchain is very different from the bitcoin blockchain. Bitcoin was designed purely as a digital currency. The ethereum blockchain is a more general implementation of blockchain technology . Both offer anonymous transactions, and neither of the two is controlled or regulated by a centralised body. However, they still differ remarkably in nature as well as functions. First of all, while bitcoins average block time is around 10 minutes, ethereums completes in just 12 seconds. Another distinguishing feature is differences in their monetary supply. More than 65 percent of bitcoin has already been mined, while since its inception, not more than 50 per cent of ethereum are mined so far. Also, they cost their transactions in different ways. Rachit Chawla, CEO, Finway Capital said, In ethereum, it is called gas, and the costing of a transaction varies on the basis of storage needs, bandwidth usage, and complexity. On the other hand, cost of the transaction in bitcoin depends on block size, and they compete equally with each other. Although there are more advanced calculating features are embedded in ethereum, this complexity makes the platform more vulnerable to cyber attacks than bitcoin, said Chawla. In fact, bitcoin and ethereum differ in purpose: Bitcoin is pitched as an alternate currency, or digital currency, ethereum facilitates peer-to-peer contracts and applications via its own currency vehicle. Thats why bitcoin has emerged as more stable digital currency, while ethereum is more about smart contract applications. What makes the ethereum blockch Continue reading >>

What Is The Difference Between Bitcoin And Ripple?

What Is The Difference Between Bitcoin And Ripple?

What Is The Difference Between Bitcoin And Ripple? {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. {{article.article.magazine.subscription_text}} There is so much hype and confusion in the blockchain, distributed ledger and cryptocurrency world and one name that keeps increasignly coming up in that space is Ripple. I often get asked aboutthe difference between Bitcoin (still the best known cryptocurrency based on blockchain) and Ripple. So in this post I try to explain what exactly Ripple is and what makes it different from Bitcoin. Before I go into any more detail,always, remember that investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. While Bitcoin is a digital currency intended as a means of payment for goods and services, Ripple is a payment settling, currency exchange and remittance system intended for banks and payment networks. The idea is to provide a system for direct transfer of assets (e.g. money, gold, etc.) that settlesin almost real-time, and is a cheaper, more transparent and secure alternative to transfer systemsused by banks today, such asthe SWIFT payment system . Bitcoin is based on blockchain technology, while Ripple doesn't useblockchain but uses a distributed consensus ledger using a network of validating servers and crypto tokens called XRP (sometimes referred to as Ripples). XRP which is the actual cryptocurrency is a token which is used on the Ripple network to facilitate transfers Continue reading >>

Bitcoin Vs Ether Vs Litecoin Vs Ripple: Differences Between Cryptocurrencies

Bitcoin Vs Ether Vs Litecoin Vs Ripple: Differences Between Cryptocurrencies

By now, you've no doubt heard about the massive bitcoin rally this year . And you may also have read about other cryptocurrencies, such as litecoin and Ethereum , surging too. But there are over 1,300 cryptocurrencies in existence. And while bitcoin dominates the market, several other digital currencies are making waves. CNBC has created a brief guide on how the top five cryptocurrencies by market capitalization, or value in the world, have performed so far this year, and what the differences are between each of them. All market cap and year-to-date rise figures are accurate as of December 14. But because of the frenzy around bitcoin, transaction times have spiked, which could go against the original aims of the cryptocurrency. While Nakamoto referred to bitcoin as electronic cash, many experts have called it "digital gold" and said it could be a long-term store of value. At the moment, some retailers in Japan have begun accepting bitcoin as payment and there are even instances of real estate firms accepting it too . But there is little evidence of widespread use of bitcoin for payments. Ethereum is the name of a blockchain company that has created the digital token ether. But Ethereum and ether are now used interchangeably to refer to the cryptocurrency. Ether is backed by a blockchain, much like bitcoin, but the technology is slightly different and aimed at a specific use case: smart contracts. Take a trade finance deal, for example. This relies on each party in the deal having a paper or digital copy of the contract and needing to update it individually. It's arduous and prone to error. But a smart contract is one that is written in code into a blockchain. Once the terms of the contract are met by each party, a deal will be executed. Many major organizations are exp Continue reading >>

5 Types Of Cryptocurrency Entrepreneurs Should Know About

5 Types Of Cryptocurrency Entrepreneurs Should Know About

5 Types of Cryptocurrency Entrepreneurs Should Know About Cryptocurrencies are both investment opportunities and new financial instruments of increasing importance to investors and business owners. Founder of crypto site Blocklr & Growth Nuts, an organic growth co. Opinions expressed by Entrepreneur contributors are their own. You can classify every digital currency in existence as one of these fivetypes of cryptocurrency. These distinctions are of the utmost importance for cryptocurrency investors because they determine what exactly youre investing in, and who can invest in the first place. From coins to tokens, stablecoins to utility and security tokens, here are the main types of cryptocurrency you need to know about. The biggest distinction in cryptocurrency is between coins vs tokens . Every cryptocurrency has to be one or the other. Heres what differentiates coins from tokens:Coins have their own blockchain. Tokens do not. Most of the big name cryptocurrencies -- Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) -- are coins. The most important thing to remember about coins is that they have their own blockchain, meaning a decentralized, peer-to-peer network that records transactions on a digital ledger. By contrast, a token does not have its own blockchain. The Ethereum blockchain is the most popular platform for token creation, though you can theoretically create a token on any blockchain. 0x (ZRX), Maker (MKR) and Basic Attention Token (BAT) are examples of ERC-20 tokens, meaning a specific type of Ethereum-based token. In other words, their protocol exists on top of the Ethereum blockchain. Related: 5 Benefits of Online Peer-to-peer Lending That You Didn't Know Coins function as currency. Tokens represent access to a product or stock. Since coins have their own Continue reading >>

Differences Between Cryptocurrency Coins And Tokens

Differences Between Cryptocurrency Coins And Tokens

Basics you need to know By Aziz, Founder of Master the Crypto No responses This article explores the subtle differences between cryptocurrency coins and tokens, and why the term cryptocurrency is a misnomer. Cryptocurrencies can be extremely hard to wrap our heads around, especially since their underlying technology the Blockchain is shrouded in computing language and terminology that is technical in nature. This is a huge impediment to many who are interested in the crypto space. But do not worry! Well guide you in understanding key cryptocurrency concepts that is great for you to know. (See more: Guide to Common Crypto Terms ) Lets start with understanding the definition of cryptocurrencies. Cryptocurrencies are digital or virtual currencies that are encrypted (secured) using cryptography. Cryptography refers to the use of encryption techniques to secure and verify the transfer of transactions. Bitcoin represents the first decentralized cryptocurrency, which is powered by a public ledger that records and validates all transactions chronologically, called the Blockchain. (Read also: Upcoming Bitcoin Hardforks You Should Know: Bitcoin Gold & Segwit2X) Although many cryptocurrencies have existed prior to Bitcoin, its creation marks an important milestone in the realm of digital currencies, due to its distributed and decentralized nature. The creation of Bitcoin precipitated the expansion of a lush and more diverse ecosystem of other coins and tokens, that are often regarded as cryptocurrencies in general, even when most of them do not fall under the definition of a currency. (See also: 4 Reasons Why Now is the Best Time for You to Invest in Cryptocurrencies) Coins vs Tokens: Categorization of Cryptocurrencies It is important to note that all coins or tokens are regarded Continue reading >>

Cryptocurrencies: The Current Landscape

Cryptocurrencies: The Current Landscape

Home Resources Webinars Cryptocurrencies: The Current Landscape Cryptocurrencies are all the rage. Everyone is watching the price of bitcoins. Those in-the-know are talking about Litecoin, Monero, Ethereum, Ripple, and Dash, to name a few of the coins that are available if you know where to look. For the rest of us, its a bewildering array of new concepts from what a coin, wallet, and blockchain are, to how it compares to fiat currency, and why this even matters. In this webinar, we will discuss the history of cryptocurrencies, how they operate and what differentiates them from traditional currencies, explain some of the concepts behind the technology, and take a peek into the criminal activity they facilitate. You know that cryptocurrencies are changing the cyber threat landscape, so heres your chance to understand the basics. Stacey A. Wright is the Director of Cyber Intelligence at CIS (Center for Internet Security), where she runs the Intel Team for the Multi-State Information Sharing and Analysis Center (MS-ISAC) and Elections Infrastructure Information Sharing and Analysis Center (EI-ISAC). She has designed and built the Intel Team to focus on providing strategic and operational cyber intelligence to state, local, tribal, and territorial (SLTT) governments. The team publishes more than 200 products per year providing timely, actionable SLTT government and elections-focused insight on cyber risks, actors, trends, tactics, vulnerabilities, and incident response. Recipients use the intelligence to improve visibility, detection, accuracy, and strategically align resources to the current cyber environment. In addition to her work at CIS, Stacey teaches two graduate cybersecurity and threat intelligence classes at the State University of New York. Prior to her employme Continue reading >>

Why Bitcoin Is Different Than Other Cryptocurrencies

Why Bitcoin Is Different Than Other Cryptocurrencies

Bitcoin Developer and Entrepreneur/PGP Fingerprint: C1D7 97BE 7D10 5291 228C D70C FAA6 17E3 2679 E455 Why Bitcoin is Different than other Cryptocurrencies In my last article , I discussed how the market cap of many altcoins is deceiving as recently, theres been a large run-up in the prices of a lot of altcoins. In this article, I seek to show how and why Bitcoin is different than all the other altcoins that exist. Having been involved in Bitcoin for a long time, Ive noticed that theres a pattern to how people think about Bitcoins as they discover more and more of the ecosystem surrounding it. Usually, the thoughts go something like this: Wow, Bitcoin is amazing! Theres a limit to how many will ever exist and significant control over my own money. How do I get some? Mining sounds really cool. That sounds like where the money is going to get made. How do I get miners and start making some Bitcoin? Mining looks really hard and difficult. I guess its better if I just buy it. Now where can I go buy some? Awesome, now I own some Bitcoin, but what are all these other coins? Are they going to take over sometime? I want to hedge against Bitcoin self destructing somehow. Maybe I should buy some of these altcoins. I cant possibly look into every altcoin there is, theres just too many of them. How do I choose? I know, Ill just buy the most popular ones since theyre probably the most likely to have any chance at all of beating Bitcoin anyway. Hmm, but the popular ones look pretty expensive. Maybe Ill buy some of these other ones that are just starting. Many people stop and stay at a particular step. For example, I know many people that have never bought Bitcoin but have simply mined all the Bitcoins they own. Theyll gladly spend thousands on mining equipment but would never actuall Continue reading >>

This Giant Infographic Compares Bitcoin, Ethereum, And Other Major Cryptocurrencies

This Giant Infographic Compares Bitcoin, Ethereum, And Other Major Cryptocurrencies

View a high resolution version of this graphic Comparing Bitcoin, Ethereum, and Other Cryptos View the high resolution version of todays graphic by clicking here . Unless youve been hiding under a rock, youre probably aware that were in the middle of a cryptocurrency explosion . In one year, the value of all currencies increased a staggering 1,466% and newer coins like Ethereum have even joined Bitcoin in gaining some mainstream acceptance. And while people like Jamie Dimon of J.P. Morgan and famed value investor Howard Marks have been extremely critical of cryptocurrencies as of late, many other investors are continuing to ride the wave. As weve noted in the past, the possible effects of the blockchain cannot be understated, and it could even change the backbone of how financial markets work . However, even with the excitement and action that comes with the space, a major problem still exists for the layman: its really challenging to decipher the differences between cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, and Dash. For this reason, we worked with social trading network eToro to come up with an infographic that breaks down the major differences between these coins all in one place. Here are descriptions of the major cryptocurrencies, which make up 84% of the coin universe. Bitcoin is the original cryptocurrency, and was released as open-source software in 2009. Using a new distributed ledger known as the blockchain, the Bitcoin protocol allows for users to make peer-to-peer transactions using digital currency while avoiding the double spending problem. No central authority or server verifies transactions, and instead the legitimacy of a payment is determined by the decentralized network itself. Bottom Line: Bitcoin is the original c Continue reading >>

Top 6 Major Cryptocurrencies And The Differences Between Them

Top 6 Major Cryptocurrencies And The Differences Between Them

As most cryptocurrency enthusiasts are well aware of, there are different groups of currencies to take into account. The major cryptocurrencies are all offering something seemingly different, whereas the rest are mostly copy-and-paste clones. However, there are some big differences between the major cryptocurrencies, otherwise there would be very little point in distinguishing between them. One of the main thing that Dash does well is providing its users with additional privacy when completing transactions. The network of Dash Masternodes provides these services, while also incentivizing users to not spend their wallet balance. Additionally, Dash is making quite an impact in the point-of-sale industry, through strategic partnerships. All things considered, Dash provides a valuable service to people looking for those specific traits. When it comes to finding anonymous cryptocurrencies, one has to look well beyond bitcoin and others. Monero is leading the charge in the anonymity race due to some innovative concepts. Monero has also been embraced by darknet markets because it provides privacy and anonymity one cannot find in bitcoin. Other use cases for Monero are somewhat limited, though. Although many have quite contrasting opinions regarding Ripple, one cannot ignore the benefits it brings to the table. Unlike other cryptocurrencies, Ripple is not about speculation, but strongly focuses on transactional utility. Dozens of banks around the world are looking at Ripple to improve their transactions and other day-to-day operations moving forward. Over the past few days, Ripples XRP token saw its price increase significantly due to a new banking partnership. Over the past year or so, many people have compared Ethereum to bitcoin. That is like comparing apples and oranges, s Continue reading >>

Comparison Of Cryptocurrencies

Comparison Of Cryptocurrencies

The cryptocurrency market is explosive which currently serves hundreds of currencies. Almost all of them are obvious scamsincluding many which purport to have a large market cap. This article aims to list only the most relevant cryptocurrencies in terms of novel technological advancements or strong engineering teams, or due to widespread awareness thereof. Direct, low-level scams should not be listed here. An altcoin based on Bitcoin's blockchain with replay protection and an increased block size limit of 8MB. An unusual emergency difficulty adjustment algorithm causes significant periods of hyperinflation. First cryptocurrency that implemented Satoshi's BitDNS idea. Essentially the first real altcoin. Still under active development. First merged-mined altcoin. Introduced the X11 algorithm, which is just a composite function of multiple hashing algorithms. Had a significant failure mode in the beginning which equated to a majority premine by a small number of Amazon EC2 customers. This means their Master Node algorithm has been in a failure mode from the beginning. Majority premine sale. Source of the ICO bubble. Multiple client implementations which fail against each other in terms of consensus errors regularly. Requires multiple months of time to sync to eth blockchain. Contract-building tools interpret input incompatibly. Continue reading >>

Understanding The Different Types Of Cryptocurrency

Understanding The Different Types Of Cryptocurrency

Understanding the Different Types of Cryptocurrency There was a time when you could count the number and types of cryptocurrency on one hand. Today that is no longer possible. The crypto market has grown, grown and grown some more! In this article, I will explain the three main types of cryptocurrency: Bitcoin, altcoins, and tokens. By the end of this guide, youll know: How many types of cryptocurrency are there Before learning about the top types of cryptocurrency, its important to understand what cryptocurrency is. If you already feel comfortable with your knowledge in this area, please feel free to skip the next section scroll down to The Three Main Types of Cryptocurrency! The prefix crypto- stands for cryptography, which is a technology that keeps information safe and hidden from attackers. You may have heard of cryptography in history class it was used to send and receive secret messages by the Allied Forces in World War II. In present day, computer technicians put cryptography to use in many different ways. One of those ways is 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. For now, you can forget about how types of cryptocurrency are created, and instead focus on what it does. Thanks to cryptocurrency, people no longer need to trust banks to handle their money and private information (thats the same for credit card companies, too). We dont need banks to process our transactions anymore. Instead, transactions in cryptocurrency are processed on the blockchain. The blockchain is a shared database. It is shared because it is run by lots of different people and companies, instead of just one company, like the banks Continue reading >>

Funding Options | Fiat To Crypto & Crypto To Crypto Trading | Kraken

Funding Options | Fiat To Crypto & Crypto To Crypto Trading | Kraken

Kraken is dedicated to providing you with low fees and a variety of digital and fiatfunding options to power your cryptocurrency investments. Fast, flexible funding makes it easier than ever to execute crypto trades from anywhere in the world. Fund Your Account with Traditional Currencies Both new and experienced traders will find that our fiat currency funding options make for a seamless experience that will have you trading in as little as 24 hours from the time of your deposit. We offer fiat currency funding with US Dollars (USD), Euros (EUR), and Canadian Dollars (CAD), all with minimal fees. Depositing funds with CAD and EUR SEPA (Single Euro Payments Area) is free. a payment-integration initiative of the European Union for simplification of bank transfers denominated With a quick and convenient verification process, Kraken makes it easy to deposit your crypto funds so you can focus on the market. We also offer an expanded set of funding options for our corporate-level clients, such as USD international wire transfers. Learn more about Corporate Funding options Trade Fiat to Crypto Anywhere, Quickly and Securely On top of offering the best security in the industry, our wide selection of crypto and fiat currency funding options allowyou the freedom to trade from anywhere in the world with few limitations. If youre ready to get started, go ahead and create a Kraken account to begintrading in as little as a matter ofminutes. Continue reading >>

Coins Vs Tokens: Know The Difference [crypto Basics]

Coins Vs Tokens: Know The Difference [crypto Basics]

Coins vs Tokens: Know The Difference [Crypto Basics] By: Sudhir Khatwani In: Cryptocurrency Last Updated: Any person who has set foot in the cryptosphere, even if for a day, must have come across certain terms like coin, tokens, crypto coin, cryptocurrency , altcoins etc. We take a glance and move on to more complex information. But do we actually know what these terms mean? Are they the same or do they possess different meanings? Is a coin the same as a token? Are these terms synonymous? Well,they are not, but are often used in this way which is inaccurate. But then again, who is to be blamed for the inaccurate information? Nobody actually, for it is a very new field and often different terms are taken for granted and used inaccurately because we are still learning about it. And in this learning curve, we often miss the thin lines that actually makes terms like coin and token different. <br /> Can't load widget<br /> That is why, I thought of an article to highlight the differences between a coin and a token in the cryptosphere. A coin like Bitcoin , made by making variations in the original Bitcoins code like Litecoin , Namecoin etc. can be termed coins. These are also referred to as altcoins because they are an alternative to Bitcoin with an aim to have usecase similar to Bitcoin. Therefore, the properties of such coins is also similar to Bitcoin: Fungible: One unit is equivalent to another Divisible: Can be divided into smaller units of value Acceptable: Widely accepted as medium of exchange Limited Supply: Supply is capped and constant (compromised in some coins) Uniform: All versions of the same denomination have the same value Portable:Can be carried along and exchanged Durable: Can be used a number of times without degrading Also, th Continue reading >>

How Bitcoin, Ethereum, And Other Cryptocurrencies Compare - Business Insider

How Bitcoin, Ethereum, And Other Cryptocurrencies Compare - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our Rotariu uses Romania's first bitcoin ATM in downtown Bucharest Unless you've been hiding under a rock, you're probably aware that we're in the middle of a cryptocurrency explosion . In one year, the value of all currencies increased a staggering 1,466% - and newer coins like Ethereum have even joined Bitcoin in gaining some mainstream acceptance. And while people like Jamie Dimon of J.P. Morgan and famed value investor Howard Marks have been extremely critical of cryptocurrencies as of late, many other investors are continuing to ride the wave. As we've noted in the past, the possible effects of the blockchain cannot be understated, and it could even change the backbone of how financial markets work . However, even with the excitement and action that comes with the space, a major problem still exists for the layman: it's really challenging to decipher the differences between cryptocurrencies like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Ripple, and Dash. For this reason, we worked with social trading network eToro to come up with an infographic that breaks down the major differences between these coins all in one place. Here are descriptions of the major cryptocurrencies, which make up 84% of the coin universe. Bitcoin is the original cryptocurrency, and was released as open-source software in 2009. Using a new distributed ledger known as the blockchain, the Bitcoin protocol allows for users to make peer-to-peer transactions using digital currency while avoiding the "double spending" problem. No central authority or server verifies transactions, and instead the legitimacy of a payment is det Continue reading >>

How Is Bitcoin Different Than Every Other Cryptocurrency?

How Is Bitcoin Different Than Every Other Cryptocurrency?

Answered Oct 1, 2017 Author has 155 answers and 71.1k answer views Bitcoin isnt that much different to a few of the recognized coins, it is simply put.. The Godfather of Crypto currency. It is the leader in the crypto space, if you do a bit of research you will see that usually whatever Bitcoin does, the other coins follow suit. Whether it be a dip in price or a rise in price, the percentages are almost the same. The reason Bitcoin is attacked more so than the other coins is because the Bitcoin haters out there, or the non-believers, know that if they attack the leader then the negativity will automatically spread to its followers. It makes them happy, however, when Bitcoin and its followers bounce back to retest all time highs, which it is doing again right now.. the haters crawl back under their rocks sulking until they can think of some other fake news that could potentially hurt Bitcoin. Keep trying guys, you have been doing this since its inception in 2009 and failed dismally each time. The more you do it, the stronger we become!!!! Bitcoin floats my yacht, what floats your inflatable swimming aid?? Anyway, now I have got that off my chest, lets get back to the positives of Bitcoin investments. Even though trying to get your head around how the Crypto currency phenomenon works can be confusing and daunting, at times, it is still worth your time in doing some research on Bitcoin before making any decision to be part of it. We know it can be time consuming and sometimes a little confusing so we have created a simple but informative website that explains the fundamentals of Bitcoin without the technical jargon that usually relates to this fascinating technology, also an opportunity to become part of The Bitcoin Community. If you have any questions, please feel free t Continue reading >>

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