Monday, 29 January 2018

Best of Blockchain and Cryptocurrencies

There are different types of blockchain. A blockchain is a list that grows with time. The list contains of records also called blocks. These blocks are very safe and are linked using an online password called cryptography. 

 Types of Blockchain
  • The first type of blockchain is a Public Blockchain which can be accessed by everyone as suggested by the name. The currency can be transferred by anyone without any doubt. There is also a provision for checking that the transactions are valid or not and if these can pass for the consensus process.
  • The next type is the consortium Blockchain, in which, all the processes involved are controlled by different sets of nodes. For every process, a set of nodes is selected prior to that. A signature has to be assigned for every block to validate it.  
  • Another type is the private blockchain in which only a single organization authorizes all the written permissions but the readings are permitted to be availed by the users. Database management and auditing are included in the applications for the organizations.
  • cryptocurrency means an asset that is digital in nature that is made to act as a medium for the exchange or transactions that require cryptography for their security. It also verifies that assets have been transferred from one person to another.

Some Of The Best Cryptocurrencies Are As Follows:

  • On the top of the list, nowadays, is bitcoin. The current value of bitcoin is $125 B. It is the first crypto currency and has the largest market share. It is the most liquid amongst the competitors which is one of the main reasons for its value.
  • Ether is the second on the list of crypto currencies market. The reason for its success is that it is the only alternative for Bitcoin and it is the best platform for smart contracts. The current value of Ether is $28.3 B.
  • The third on that list is Ripple with a value of $7.7 B. An advantage of competitors is that it provides real time settlements and it strongly focuses on the banking market.
  • Litecoin comes fourth with a value of $2.9 B which is similar to bitcoin with all features but it is not effective on PCs.
  • The next crypto currency is dash with a value of $2.1 B which is also known as darkcoin. This supports fully encrypted transactions.

Before getting cryptocurrency, the history of Blockchain, cryptocurrencies, ICO must be known. It has been proved that there is a lot of potential and this proof has been obtained when it was searched deeply. There is a lot of practical use of blockchain, cryptocurrencies, ICO. Each and every record of the transaction is safe and verifiable. A lot of industries as well as small firms make use of blockchain for various transactions because of the proper security it provides to them. the data cannot be tampered with unless one has the digital password

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