Understanding the Different Types of Cryptocurrency
Categories: Crypto News US
Understanding the Different Types of Cryptocurrency When bitcoinwas launched in 2009, it had little - or no - competition in the newly mintedarea of digital currency. By 2011, however, new types of cryptocurrencybegan to emerge as competitors adopted the blockchain technology that wascreated for bitcoin to launch their platforms and currencies. Suddenlythe race to create more crypto had begun. The rest, as they say, is history. Therush towards crypto is a financial services explosion that has not affectedjust one country, but has taken over the entire world. To say thatcryptocurrency is popular today is an understatement. One of the reasons whycryptocurrency has captured the hearts, minds and wallets of so many people isthe innovative nature of its blockchain technology. It isimpressive that the concepts of blockchain and decentralization can be appliednot only to finance, but also to many other industries, needs and uses in oursociety. Then there is the rapid pace of blockchain technology; Forexample, money transfers abroad, which used to take between 3 and 5 days viawire transfer, can happen almost instantly – or up to a few minutes, on aslower day – with blockchain. The list ofreasons for the popularity of crypto seems endless. Crypto exemplifies manytraits that appeal to both the human imagination and our everyday needs. Inthis article, we examine cryptocurrencies in detail, discuss their differenttypes, and highlight 20 coins that are popular today. Of course, all thingschange as rapidly as the speed of the crypto blockchain.