currency Archive - Crypto Coin News Today

Monero (XMR)

'Eliran Hadar' — Fri, 02 Feb 2018 15:52:28 +0000

Monero (“Coin” – Esperanto) (XMR) – is an crypto currency with an open source code, based on the blockchain technology. It was created in April 2014. It works on Windows, Mac, Linux, Android and FreeBSD. Unlike crypto-currencies, which are derived from Bitcoin, Monero is based on the CryptoNote protocol and has significant algorithmic differences related to obfuscating (“mixing”) of the data inside the blockchain.

It is denoted by the XMR code. Mining of Monero is based on the principle of PoW (Proof-of-work): the miners receive a reward for solving cryptographic problems, as a result of which a new block is added to the blockchain every two minutes. In this case, unlike many other crypto currencies, Monero emission is not limited.

History

The main difference between Monero and other crypto-currencies is the use of CryptoNote protocol for encrypting of transactions. This protocol works on the principle of ring signature, in which any member of any closed group can leave the electronic signature – but the person who did it will never be known. Also, the protocol provides passive mixing of the transactions themselves so that they are all anonymous. However, anonymity requires large resources, primarily memory: Monero transactions take up on average 8 times as much space as Bitcoin’s transactions take. As of mid-October 2017, the Monero exchange rate is $ 95.14.

The market capitalization in the amount of $ 1.447 billion approximates the crypto currency closely to the top ten in terms of this indication.

Dynamics

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Ethereum Classic (ETH)

'Eliran Hadar' — Fri, 02 Feb 2018 15:51:23 +0000

Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called “classic ether”, which can be transferred between participants, stored in a cryptocurrency wallet and is used to compensate participant nodes for computations performed.

The classic ether token is traded on cryptocurrency exchanges under the ticker symbol ETC. Gas, an internal transaction pricing mechanism, is used to prevent spam on the network and allocate resources proportionally to the incentive offered by the request.

History

In May 2016, a venture capital fund called The DAO built on Ethereum raised around $168 million, with the intention of investing in projects using smart contracts. In the same month a paper was released detailing security vulnerabilities with The DAO that could allow ether to be stolen. In June, 3.6 million Ether (approximately $50 million USD) was taken from accounts in The DAO and moved to another account without the owners’ consent, exploiting one of the vulnerabilities that had been raised in May.

Members of The DAO and the Ethereum community debated what actions, if any, should occur to resolve the situation.

Dynamics

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IOTA (MIOTA)

'Eliran Hadar' — Fri, 02 Feb 2018 15:50:13 +0000

IOTA — is a cryptocurrency, based not on the blockchain, but on a new data structure called “Tangle”, which does not require blocks, chains and miners. One of the main fields of application of this technology, as envisioned by the developers, is “Internet of things”. Tangle – is a new data structure based on the Direct Acyclic Graph and which does not need miners and data blocks. Each network member who wants to execute a transaction must actively participate in the network consensus by approving two past transactions.

This attestation of the validity of the two past transactions ensures that the entire network will reach a consensus on the current status of the approved transactions and will allow using a number of unique functions that only IOTA has: high transaction capacity due to concurrent checking without limits on their number, no commissions for transactions, greater decentralization in comparison with the blockchain and higher security.

History

In the future, IOTA will allow companies to introduce new b2b models, turning every technological resource into a potential service that will be sold on the open market in real time without any charges. Secure and authenticated communication channels between devices will be built through the Tangle. In the future, any physical resources connected to the network can be rented in real time: not only equipment, but also computer capacities and data storage volumes.

Also, Tangle opens up new opportunities for secure data transfer to eGovernance, including for electronic voting. Several companies are already conducting research in this direction.

Dynamics

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Dash (DASH)

'Eliran Hadar' — Fri, 02 Feb 2018 15:49:09 +0000

Dash (DASH)(formerly known as Darkcoin and XCoin) is an open source code cryptocurrency based on Bitcoin software. In addition to the set of functions, Bitcoin offers instant transactions (InstantSend) and anonymous transactions (PrivateSend). Cryptocurrency was developed by Evan Duffield, who first offered his work on the anonymity of transactions for Bitcoin, but his developers refused to make changes to the source code. Dash has been working since the beginning of 2014, having received its current name in 2015.

Dash is based on the blockchain and works with the Proof of Work (PoW) consensus mechanism. Miners are trying to solve complex problems in a similar way to Bitcoin, getting a reward for their solution and adding a new 2 MB block to the blockchain.

History

Thanks to the high level of protection and transaction speed the Dash crypto currency is popular. Since September 2017, Dash coins can be bought and sold using a linked bank account on the London crypto exchange CEX.IO. And in early October it became known that Dash would start supporting the cloud platform of Wirex personal banking. By the mid-October 2017, one Dash coin is worth $ 307.6, and market capitalization is $ 2.343 billion (the sixth place among all the Crypto-currency upon this indication).

One of the tasks of the Master node network is the execution of PrivateSend transactions: in order to achieve anonymity of the transaction, the transferred amount is divided into several equal parts.

Dynamics

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Litecoin (LTC)

'Eliran Hadar' — Fri, 02 Feb 2018 15:37:20 +0000

Litecoin (LTC) is a decentralized cryptocurrency, a fork of Bitcoin intended by its designers to be more feasibly mined using consumer-grade hardware. Litecoin is a peer-to-peer crypto currency that was developed on the base of Bitcoin and has an open source code. Unlike Bitcoin, the Litecoin blockchain is able to process a greater number of transactions.

The creator of Litecoin – Charlie Lee, a former employee of Google – took the Bitcoin source code as a basis and created a crypto currency that needs 2.5 minutes to generate a block – this is 4 times faster than Bitcoin.The full emission of Litecoin makes out 84 million coins, which is also 4 times more than of Bitcoin. The start reward for a block made out 50 Litecoins, and now it is 25 Litecoins.

History

Litecoin was released in October 2011 in the form of a client with an open source code on the Internet hosting GitHub by Charles Lee, a former Google employee. The crypto currency works according to the MIT/X11 license, which allows anybody to execute, modify and copy software as well as to distribute any modified copies. It was a fork of the Bitcoin-Qt client, differing primarily by having a decreased block generation time, increased maximum number of coins, different hashing algorithm, and a slightly modified GUI.

The Litecoin exchange rate gave a jump in November 2013: the capitalization of crypto currency exceeded 1 billion dollars.

Dynamics

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Ethereum (ETH)

'Eliran Hadar' — Fri, 02 Feb 2018 09:42:29 +0000

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. Along with Bitcoin, Ethereum is considered to be one of the pioneer platforms in distributed ledger and blockchain technology. Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.

Ethereum provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. “Gas”, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

History

Ethereum was initially described in a white paper by Vitalik Buterin, a programmer involved with Bitcoin Magazine, in late 2013 with a goal of building decentralized applications. Buterin had argued that Bitcoin needed a scripting language for application development. Failing to gain agreement, he proposed development of a new platform with a more general scripting language. At the time of public announcement in January 2014, the core Ethereum team was Vitalik Buterin, Mihai Alisie, Anthony Di Iorio, and Charles Hoskinson. Formal development of the Ethereum software project began in early 2014 through a Swiss company, Ethereum Switzerland GmbH (EthSuisse).

Subsequently, a Swiss non-profit foundation, the Ethereum Foundation (Stiftung Ethereum), was created as well.

Dynamics

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Ripple (XRP)

'Eliran Hadar' — Fri, 02 Feb 2018 09:42:00 +0000

Ripple (XRP) is a peer-to-peer powered cryptocurrency designed to work seamlessly with the Internet to allow a fast, direct and secure way to send payments on the web. Ripple is a system of the real time gross settlements (RTGS), currency exchange and money transfer system. Another name is Ripple transaction protocol (RTXP), or Ripple protocol.

It is built upon a distributed open Internet protocol, consensus ledger and its own currency called XRP. Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.

History

Ripple was first implemented in 2004 by Ryan Fugger, a Web developer in Vancouver, B.C., Canada. In 2005, Fugger began to build Ripplepay as a financial service to provide secure payment options to members of an online community via a global network. On the basis of this protocol, a new digital currency system appeared in May 2011, for which its own crypto currency XRP was issued. This led to the development of a new Ripple system in 2011 by Jed McCaleb. It was designed to eliminate Bitcoin’s reliance on centralized exchanges, use less electricity than Bitcoin, and perform transactions much more quickly than Bitcoin.

The Ripple protocol was launched in 2012, its main goal is to ensure “secure, instant and almost free global money operations of any size without any chargebacks”.

Dynamics

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Bitcoin (BTC)

'Eliran Hadar' — Fri, 02 Feb 2018 09:31:34 +0000

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary.

These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

History

One of the first supporters, adopters, and contributors to bitcoin was the receiver of the first bitcoin transaction, programmer Hal Finney. Finney downloaded the bitcoin software the day it was released, and received 10 bitcoins from Nakamoto in the world’s first bitcoin transaction. Other early supporters were Wei Dai, creator of bitcoin predecessor b-money, and Nick Szabo, creator of bitcoin predecessor bit gold. In the early days, Nakamoto is estimated to have mined 1 million bitcoins.

In 2010, Nakamoto handed the network alert key and control of the Bitcoin Core code repository over to Gavin Andresen, who later became lead developer at the Bitcoin Foundation.

Dynamics

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