Cryptocurrency is a form of payment that can be exchanged online for goods and services.

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.

What is Bitcoin

Bitcoin is the world’s first digital currency and it is expanding in popularity worldwide. With the Goldy.cc platforms you can trade this rapidly growing currency against the US Dollar 24/7. Many traders prefer to trade Bitcoin derivatives due to this asset’s highly volatile nature.

Goldy.cc is an industry-leading broker with some of the best trading conditions available, including the lowest crypto spreads on the market.

Bitcoin’s Rise to Prominence

Around 2008, Satoshi Nakamoto founded the first ever cryptocurrency, Bitcoin. At the time, a paper explaining its mechanics and the ideology behind it, was published through the Cryptography Mailing List.

The first Bitcoin software client was released in 2009, and Nakamoto collaborated with many other developers on the open-source team, never revealing his identity. By 2011, the enigmatic Bitcoin founder had disappeared. His peers then, understood how valuable this cryptocurrency was and worked feverishly to develop it to its maximum potential.

By October 2009, the world’s first Bitcoin exchange was established, and by November of that year 4 million Bitcoins had been ‘mined’. At the time, $1 was the equivalent of 1,309 Bitcoin – a fraction of a penny. Considering how widely Bitcoin fluctuates, that was a real steal: it hit the $10,000 mark within eight years.

What is Ethereum (ETH)

Ethereum was created and introduced to the world in 2013 by Vitalik Buterin, and went live in July 2015. Developers were looking for a way to differentiate from the Bitcoin currency, and make it to be exclusive with properties stand out in a market of its own.

They developed a new approach with a new platform and a more common script language. Their software allows customers to run any programme, which makes the Ethereum blockchain process and applications much more efficient than before. With Ethereum, developers can build a new type of software called “decentralised application”. This codes technology is not controlled by any individual or central system.

Ethereum Trading

Ethereum is proving to be one of the most favorable technology investments of all time. It was created in 2015 and since then has grown by over 1000%. To better understand what it is, Ethereum is an open source network, much more than just a digital currency. Therefore, when you purchase Ethereum you are investing in the network, and placing money into a unique transformational platform, with many of its greatest applications still to come.

The digital coin of Ethereum, known as “ether”, could be speeding up the decentralisation of the world economy, and has the potential to influence many other industries. Ethereum is backed by a variety of Fortune 500 companies, who met in 2016 to discuss and join forces on developing Ethereum’s network technology. The Ether coin can be volatile, which can serve as an asset for traders.

Ethereum Classic is the original version of the Ethereum blockchain from which the newer version was created. The newer version adopted the name Ethereum. The blockchains are not compatible, and updates on one will not affect the other. These changes led the way for the creation of the new crypto coin with a different name, leger, price and market cap.

Goldy.cc is an industry-leading broker with some of the best trading conditions available, including the lowest crypto spreads on the market.

What is Bitcoin Cash

Bitcoin Cash was created by the Bitcoin hard fork on August 1, 2017, made a new version of the blockchain with different rules. Bitcoin Cash was created as a result of counteracting a prolonged Bitcoin scalability problem. It works by switching from the main Bitcoin blockchain to a new version, the software now has capacity for a larger number of transactions (by eight megabytes to be exact).

Bitcoin Cash in the markets

Since the infant cryptocurrency launched it had more than doubled in value from the initial Bitcoin Cash price of $300 to over $600. Investors are wondering if this could be labeled the ‘new king of ’ Cryprocurrencies.

But Bitcoin Cash got off to a slow start in the beginning. If it was not for the Bitcoin Cash mining algorithm breathing life in to the new instrument, it would not seem as attractive to profit-seeking computer miners.

Once the finance markets got wind of this jump and rise in the rate at which the ‘blocks’ were being produced (known as hash rate), traders and investors started to bid up the BCH price, hence its rise in popularity.

What is Bitcoin Gold

Bitcoin Gold (BTG) is the second fork from Bitcoin (i.e. the second version to stem from Bitcoin’s source code) after Bitcoin Cash . The Bitcoin Gold fork occurred on 24th of October 2017, at block height 491,407. It does retain Bitcoin’s transaction history, meaning if you owned Bitcoins before the fork, you now own the equal amount of Bitcoin Gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimisation, therefore allowing users to earn more with their computer cycles.

What is Litecoin?

An open source internet currency that allows for instant, near zero cost peer-to-peer payments across the world. The Litecoin blockchain is capable of handling higher transaction volumes unlike its forefather the Bitcoin.

This would be fairly due to it’s a more frequent block generation where the network supports more transaction without a need to modify any future software. As a result, merchants gain faster payment confirmations.

The Science of Litecoin

Electronic mining of Litecoins currently allocates miners 50 new Litecoins per block, of which this amount is halved every 4 years or approximately every 840,000 blocks. The network for the Litecoin is set to produce 84 million Litecoins which sums up to 4 times the amount of bitcoin units.

The distribution of Litecoins is done by wallet encryption, that secures the safety of the coins as well as allows you to view your transactions.

What is Ripple?

The Ripple Cryptocurrency is an open payment system in beta. Its goal is to allow people to break free from financial institutions like banks, credit card companies, and other networks that enforce fees and foster delays. As per market size and capital, Ripple is the third-largest cryptocurrency, sitting just behind Bitcoin and Ethereum.

The Ripple network now has billions of dollars’ worth of cryptocurrency on account. It was built as a digital payments network for real-time financial transactions, and is also the core owner of Ripple XRP, the digital coin that increased its value 40 times in 2017 alone.

What is Dash?

Dash is considered the next generation digital currency . Traded and transferred by an open source platform, from peer to peer, it reduces the need for people being totally dependent on banks to transfer funds. Transfers are controlled and authenticated by a distributed network. It has the same features as Bitcoin or Litecoin with a few additional features such as instant transactions, enhanced private transactions, and a decentralized governance system.

Dash is currently the 7th biggest digital currency on the market, and has been accepted on the App store. This proves that the demand and ranking of the currency is growing. A major factor impacting the price rise is the supply and demand of the coins available for use.

With Bitcoin priced at a very expensive rate, people are looking at Dash as an alternative option with potential growth rate.

What is IOTA?

The ‘oil’ of the Internet of Things, IOTA is a new-generation cryptocurrency that was created in 2015 to serve the needs of the IoT (Internet of Things) industry (hence the name IOTA).

It was designed to be less complex and lighter than other cryptocurrencies in order to make the micro-transactions which are generated by the tens of billions of IoT devices as frictionless as possible.

IOTA blockchain has no “blocks”. Instead, it uses a system called Tangle which allows free and instantaneous transactions. Tangle can handle unlimited transactions and is overseen by the non-profit IOTA Foundation which maintains it as a license-free technology.

IOTA is the token name of the cryptocurrency that fuels the platform, and it also represents the smallest unit of the token. IOTA applies the SI unit of measurement, with MIOTA representing the most traded unit of IOTA.

One MIOTA (‘mega’) refers to one million IOTAs. There is also the KIOTA (‘kilo’), which refers to one thousand IOTA, and GIOTA which represents one billion IOTAs

What is Stellar?

Stellar is an open-source, decentralised platform that connects banks, payments systems and people. It was designed to facilitate fast, low-cost and secure cross-border transactions.

Stellar was founded by Jed McCaleb, a former co-founder of another popular cryptocurrency (Ripple), and by Joyce Kim, a former lawyer. Stellar was initially released on July 31st, 2014 and has always been supported by the non-profit, Stellar Development Foundation.

This Foundation was created in collaboration with Stripe CEO, Patrick Collison, and the company received 2% or 2 billion of the initial stellars in return for its seed investment.

What is EOS?

Ethereum’s biggest competitor, EOS is one of the most powerful blockchain platforms for decentralised applications. It is similar to the Ethereum platform but faster, more scalable, and allows users to build decentralized applications more efficiently.

The EOS.IO platform is being developed by a private company, block.one, and will allow to process millions of transactions per second through horizontal scaling, making older ecosystems, like Bitcoin and Ethereum , feel like an old 1980s personal computer with extremely limited computing capabilities.

A total of 1 billion EOS tokens are being distributed on the Ethereum blockchain over a period of 341 days, using a smart contract.

EOS.IO officially becomes an open-source software on June 1st, 2018, opening up the floor to developers to exploit the EOS coin’s potential. Conversely, EOS tokens owners act as shareholders of traditional public companies, that way the owners are able to cast votes and participate in the governance of the blockchain, in proportion to the their stake.

It is for these reasons, that financial analysts worldwide claim that EOS is the future of distributed companies and blockchain.

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