Types of cryptocurrency
There are thousands of cryptocurrencies. Some of the best known include:
Bitcoin:
Founded in 2009, Bitcoin was the first cryptocurrency and is still the most commonly traded. The currency was developed by Satoshi Nakamoto – widely believed to be a pseudonym for an individual or group of people whose precise identity remains unknown.
Ethereum:
Developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH) or Ethereum. It is the most popular cryptocurrency after Bitcoin.
Litecoin:
This currency is most similar to bitcoin but has moved more quickly to develop new innovations, including faster payments and processes to allow more transactions.
Ripple:
Ripple is a distributed ledger system that was founded in 2012. Ripple can be used to track different kinds of transactions, not just cryptocurrency. The company behind it has worked with various banks and financial institutions.
Tether (USDT):
Launched in 2014, Tether is a stablecoin designed to maintain a 1:1 peg with the US dollar, providing stability in the volatile cryptocurrency market. It is widely used as a trading pair on exchanges.
Binance Coin (BNB):
Binance Coin was created in 2017 as the native token of the Binance cryptocurrency exchange. It offers reduced trading fees and can be used for various purposes within the Binance ecosystem.
Solana (SOL):
Developed in 2017, Solana is a high-performance blockchain platform that utilizes proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms to achieve fast transaction speeds and low fees.
US Dollar Coin (USDC):
US Dollar Coin, launched in 2018, is a stablecoin pegged to the US dollar and issued by Circle. It is fully backed by US dollar reserves held in regulated financial institutions
Dogecoin (DOGE):
Created in 2013 as a meme-inspired cryptocurrency, Dogecoin has gained popularity due to its low price and endorsements from prominent figures. It is often used for tipping content creators and charitable donations.
Cardano (ADA):
Launched in 2017, Cardano is a third-generation blockchain platform that aims to address scalability, interoperability, and sustainability issues. It uses a proof-of-stake consensus mechanism called Ouroboros.
Non-Bitcoin cryptocurrencies are collectively known as "altcoins" to distinguish them from the original.
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