This post is part of an on-going series providing more information for those interested in cryptocurrencies, blockchains, and NFTs. While this site predominately investigates these areas from a legal perspective, many posts offer helpful introductions to different areas of blockchain.
Today, right now, you’ll learn a little bit more than you knew yesterday. The following are 11 sentences explaining what the 11 largest cryptocurrencies are/do:
Bitcoin – A decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for trusted intermediaries
Ethereum – A platform where users can write non-censorable and permanent programs on an immutable ledger where the programs can interact with and trust each other to perform a wide variety of actions and contracts, including money transactions
Binance – A cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange, which is an exchange providing a platform for trading various cryptocurrencies
Dogecoin – A cryptocurrency with a large supply and low price, useful for micro-tipping (and, apparently, getting wealthy), Dogecoin has 1-minute block intervals, making it faster to transact on than other blockchains
Ripple – Ripple is a payments settlement system and currency exchange network that can process transactions around the world, as Ripple serves as a trusted agent between two parties by quickly confirming the exchange
Tether – Converts cash into digital currency, to anchor or tether the value to the price of national currencies like the US dollar, the Euro, and other government-backed currency
Cardano – Cardano is a proof-of-stake blockchain platform developed to provide security and sustainability to decentralized applications, systems, and societies
Polkadot – A blockchain protocol enabling different blockchains to run independently within one network, protected by a shared security system
Bitcoin Cash – Created from a fork (basically a copy with modifications) of Bitcoin, Bitcoin Cash increased the size of blocks, allowing more transactions to be processed and improving scalability while reducing transaction costs (as compared to Bitcoin)
Litecoin – An early Bitcoin spinoff, Litecoin is a peer-to-peer cryptocurrency and open-source software project that can produce a greater number of coins than Bitcoin, with faster transaction speed
Uniswap – Uniswap is a decentralized finance protocol that facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts
Read more about crypto, blockchains, and NFTs.
Blockchains & the Law
You missed me, I am not as experienced as your featured persons though. Thanks for the article.
I’ve been writing patents for Ethereum since before the crowdsale but I’m not well connected in the space. I’d love…
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