What Are Cryptocoins?
How cryptocurrency works, where to buy it, and which ones to consider
by Brad Stephenson
Updated on August 25, 2019
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Cryptocoins, also called cryptocurrency or crypto, is a form of digital currency powered by blockchain technology. Cryptocoins do not have a physical, real-world equivalent. No physical coins represent cryptocurrency value, although some replicas have been made for promotional purposes or as a visualization tool. Cryptocoins are purely digital.
Bitcoin is the most popular example of a cryptocurrency but there are many more such as Litecoin and Ethereum that are made to rival it or be used in competing markets.
How Many Crypto Currencies Are There?
Hundreds of cryptocurrencies have been created since the debut of Bitcoin in 2009. Some of these have spun-off of the Bitcoin blockchain such as Bitcoin Cash and Bitcoin Gold. Others use the same technology as Bitcoin such as Litecoin, and many more are based on Ethereum or use their own unique programming language.
Like traditional fiat currencies (currency not backed by a physical commodity), some cryptocurrencies are more valuable and practical than others and most have a very limited use case. Given that anyone can create a cryptocurrency, it's likely that most will remain niche while only a few popular cryptocoins will achieve mass adoption through mining or investments and go mainstream.
What's The Most Popular Cryptocoin?
The No. 1 cryptocurrency by ownership, price, and usability is undoubtedly Bitcoin. Bitcoin's popularity is mostly a result of it being the first cryptocoin on the market and its unmistakable brand identity. Everyone's heard of Bitcoin and very few people can name another cryptocurrency. Many online and offline stores accept Bitcoin and it's also accessible via the growing number of Bitcoin ATMs popping up in major cities around the globe.
Major rivals to Bitcoin include coins such as Litecoin, Ethereum, Monero, and Dash while smaller cryptocurrencies like Ripple and OmiseGo also have the potential for larger adoption in the future due to their backing by major financial institutions.
Bitcoin spin-off currencies such as Bitcoin Cash (BCash) and Bitcoin Gold can get a lot of buzz online and their prices can appear impressive but it's unclear if they will have any true lasting power due to the growing perception of these coins as cheap imitations of the main Bitcoin blockchain.
Despite using the Bitcoin name, these coins are very much separate currencies from the main one even though they use similar technology. New investors are often tricked into buying BCash, thinking it's the same as Bitcoin when it's not.
While large miners can theoretically initiate attacks that bends the consensus history to their likings, they also risk tipping off the market to their attack, causing a sudden collapse of the token price. Such a price collapse would render the miner’s hardware investment worthless, along with any previously-earned coins held long. In the case where manufacturing is highly concentrated, clandestine 51 percent attacks are easier to achieve.cryptocurrency bitcoin bitcoin lurk phoenix bitcoin bitcoin project bitcoin address bitcoin пулы moneybox bitcoin Indoctrinated in The Church’s dogma, Christianity initially refused to accept zero, as it was linked to a primal fear of the void. Zero’s inexorable connection to nothingness and chaos made it a fearsome concept in the eyes of most Christians at the time. But zero’s capacity to support honest weights and measures, a core Biblical concept, would prove more important than the countermeasures of The Church (and the invention of zero would later lead to the invention of the most infallible of weights and measures, the most honest money in history—Bitcoin). In a world being built on trade, merchants needed zero for its superior arithmetic utility. As Pierre-Simon Laplace said:
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Some of those premises are of course unrealistic, and are simply used to show what happens when there is a growing user-base and constant low-key source of new buyers against a shrinking flow of new coins available.bitcoin автосборщик etf bitcoin ethereum wiki algorithm bitcoin demo bitcoin
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