What cryptocurrencies is it good to invest in?

This year, the value of Bitcoin has skyrocketed, even more than an ounce of gold. There are also new cryptocurrencies on the market, which is even more surprising, bringing the value of cryptocurrencies to over a hundred billion. On the other hand, the cryptocurrency's long-term forecast is somewhat fuzzy. There are disputes of lack of progress between its main developers that make it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market capitalization at around $ 41 billion and has been around for the past 8 years. Around the world, Bitcoin has been widely used and, so far, it is not easy to exploit the weakness in the method that works. Both as a payment system and stored value, Bitcoin allows users to easily receive and send bitcoins. The blockchain concept is the foundation on which Bitcoin is based. You need to understand the concept of blockchain to get an idea of ​​what cryptocurrencies are all about.

Simply put, blockchain is a database distribution that stores each network transaction as a piece of data called a "block". Every user has copies of the blockchain, so when Alice sends 1 bitcoin to Mark, every person on the network knows it,https://qvdirect.eu/.

Litecoin

An alternative to Bitcoin, Litecoin tries to solve many of the problems that keep Bitcoin down. It is not as resilient as Ethereum with its value derived primarily from strong user adoption. It's worth bearing in mind that Charlie Lee, a former Googler leads Litecoin. He is also practicing transparency with what he is doing with Litecoin and is quite active on Twitter.

Litecoin was Bitcoin's second fiddle for quite some time, but things started to change in early 2017. First, Litecoin was adopted by Coinbase alongside Ethereum and Bitcoin. Litecoin then solved the Bitcoin problem by adopting Segregated Witness technology. This gave him the ability to lower transaction fees and do more. However, the deciding factor was when Charlie Lee decided to focus exclusively on Litecoin and even left Coinbase, where he was the Director of Engineering, only for Litecoin. Due to this, the price of Litecoin increased in recent months, its strongest factor being the fact that it could be a true alternative to Bitcoin.

Ethereum

Vitalik Buterin, superstar programmer, thought of Ethereum, which can do everything Bitcoin can do. However, its purpose, mainly, is to be a platform to build decentralized applications. Blockchains are where the differences between the two reside. Basically, the Bitcoin blockchain records a type of contract, one that indicates whether the funds have moved from one digital address to another direction. However, there is significant expansion with Ethereum, as it has a more advanced language script and has a more complex and broader scope of applications.

Projects began to sprout up on Ethereum when developers began to notice its best qualities. Through the massive token sales, some have even raised millions of dollars and this remains a constant trend even to this day. The fact that you can build wonderful things on the Ethereum platform makes it almost like the Internet itself. This caused a dizzying rise in price, so if you bought Ethereum for a hundred dollar value earlier this year, it wouldn't be valued at nearly $ 3000.

Monero

Monero aims to solve the problem of anonymous transactions. Even if this currency was perceived as a method of money laundering, Monero aims to change this. Basically the difference between Monero and Bitcoin is that Bitcoin features a transparent blockchain with every public and recorded transaction. With Bitcoin, anyone can see how and where the money moved. However, there is some somewhat imperfect anonymity in Bitcoin. In contrast, Monero has an opaque rather than transparent transaction method. No one is very convinced with this method, but since some people love privacy for any purpose, Monero is here to stay.

Zcash

Not unlike Monero, Zcash also aims to solve Bitcoin's problems. The difference is that, instead of being completely transparent, Monero is only partially public in its blockchain style. Zcash also aims to solve the problem of anonymous transactions.

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What cryptocurrencies is it good to invest in?