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Introducing to Cardano
Cardano (ADA) is a cryptocurrency, like many others – based on decentralized work and transparency. Launched in 2014 by a group of entrepreneurs and programmers. To be precise, Cardano is the general name of the project, and Ada is the token, the currency of the service. Cryptocurrency attaches increased importance to the security provided by a multi-level structure. Cardano positions itself as the first blockchain project, which emerged due to academic research and has a comprehensive scientific philosophy as its foundation. The cryptocurrency developed and managed by Charles Hoskinson, who in the past led the etririum project, seeks to maximize the potential of smart contracts.
WShort history of Cardano
Initially, the Cardano development team declared its intention to create a project aimed at caring for the interests and convenience of the end user, as well as taking into account the position of regulators. The developers sought to find a middle ground between the need for regulation on the one hand, and privacy and the principles of decentralization, which are key to blockchain technology, on the other. Cardano was born in 2014. At that time, the project was a mixture of revolutionary ideas and concepts, the fruit of collective research and collaboration. Its creators set themselves the task of overcoming the limitations of the existing blockchains.
Understanding proof-of-stake
Cardano uses the Proof-of-Stake algorithm called Ouroboros, thanks to which, as stated on the project website, “there is no need for the energy-intensive Proof-of-Work protocol, which prevents blockchain scaling and its wider use.”
Also, the Ouroboros algorithm avoids the need for energy-intensive evidence, since the project developers were able to scientifically prove the high level of security of the protocol itself without ancillary tools. The result of the work of the security system platform based on Ouroboros can be compared with the protection of the Bitcoin system, which no one has yet been able to crack.
ADA tokens
ADA is the name and ticker of Cardano tokens. According to the developers, ADA demonstrates what the function of money will be in the future: high-speed, direct, cryptographically secure transfers.
Trading ADA tokens
To make an ADA transfer, you need to pay a minimum commission. The minimum commission is a prerequisite for a transaction, and if you prefer, you can pay a larger fee. By a special formula, the minimum commission for each transaction is calculated separately.
Daedalus Wallet Features
There is a native wallet Cardano – DAEDALUS WALLET. It is considered safe and very convenient. In any case, if you invest in Cardano, you will surely not keep funds on the exchange markets, but withdraw them to your wallet.
At the same time, you get an expanded functionality of the wallet, in which you can:
- create multiple accounts for different cryptocurrencies;
- view transaction history;
- manage your accounts at any time without restrictions;
- use a special Cardano Block Explorer explorer;
- use encryption of private keys and passwords;
- export wallets to paper certificates.
According to the developers, in the near future the functionality of the platform will be expanded, which will also affect the wallet:
- ETH and PTS support will be included;
- Mobile apps for iOS and Android will appear;
- the option to generate blocks will open;
- support for the maximum number of coins will be launched.
Introduction to Dogecoin
DOGEcoin is a cryptocurrency founded in 2013 for the joke of enthusiastic programmers Jackson Palmer and Billy Marcus. It is actually named after an Internet meme with a Shiba Inu dog, seemed to have leaped from its leash. The basis for the development of Dogecoin cryptocurrency served as the more famous and coming on the heels of Bitcoin Litecoin. The development was presented in the 2013th year. A characteristic feature of Dogecoin was a quick mining period.
Short history of Dogecoin
Cryptocurrency dogikoin was created as a comic project, so it was not originally planned to be withdrawn to the global market for subsequent distribution among cryptoinvestors and miners. The developers of this coin, based on the Lightcoin software code, wanted to demonstrate the absurdity of the crypto market with the help of dogecoin, that now each dog began to create its own digital currency. Popular among Internet users, the Japanese dog breed Sibu Inu was chosen as the symbol of dogecoin. Due to its deliberate frivolity and playfulness, the cryptocurrency Doge continues to attract all new users who want to invest in this project with the hope of making money on its further growth.
Earning Dogecoin
Another reason for the popularity of Contracts can be attributed to the online wallet – dogechain.info – the link can register your own wallet, and the service is official and of high quality. Also on Dogcheyne, you can see information about the mined blocks and pools (the amount of production on the chart, respectively). It is very easy to buy on the exchanges – this is another plus, why you should buy dogs (as long as they are cheap).
Advantages of Dogecoin
Cryptoinvestors often want to find out what dogecoin is and what features this cryptomonet has. Due to the fact that Dogecoin is actually a fork of Bitcoin, the currency has received several similar features with its progenitor. So, Doge is also an end product that has no basis. This factor is decisive in the structure of the formation of the cost of 1 dogecoin.
From a technical point of view, dogs are not distinguished by innovative chips, which can be observed in a change in the rate of 1 doge, which varies according to the general rules of the crypto market. Dogecoin code is based on the Scrypt encryption principle. This is one real difference between forks and bitcoins using SHA-256. It is likely that this moment is the only factor that changes the rate of Podecoin in such a way that the currency maintains high positions in the global rating. In addition to the opportunity to buy dogecoin, owners of medium and powerful PCs can start mining this digital coin. The mining process is based on the traditional principle – Proof-Of-Work. In fact, there is no point in using extra maping equipment for mining dogs, since it will not provide the desired crypto-production speed.
Dogecoin capitalization
In general, not bad, the coin is currently 55th in terms of the amount of money invested in it and has every chance of rising higher, and we will explain further why. The currency, almost forgotten since its apogee in 2014, has increased in price by more than 400% over the last month, setting a new record on January 4 – above $ 0.01.
Dogecoin future perspectives
Dogecoin continues to exist due to the formed frivolous image and the desire of young people to everything unusual and new. What will happen next can not say any market analyst. Apparently, over the next couple of years, the cost of 1 doge will continue to grow to the delight of investors. This development will be assisted by a global crypto boom, as well as the instability of Bitcoin and other crypto-money. At the same time, the future prospects of dogs are not so bright, because it will be more difficult to maintain “freshness” and “novelty”. Therefore, it is not necessary to talk about the expediency of long-term investment in the Doge and it is more reasonable to give preference to other currencies.
Litecoin is the No. 2 digital currency in terms of turnover and No. 5 in terms of the market value of its assets (capitalization). Like Bitcoin, it integrates workstations into a network, between which electronic money is exchanged. It also has such features as anonymity and the absence of a single control authority (decentralization), as in the most popular cryptocurrency. Essentially, it is one of the most famous forts of Bitcoin (Bitcoin). The actual developer and founder of this cryptocurrency is Charlie Lee. He took as a basis the idea of a decentralized Bitcoin network, slightly changed the mining process, the protocol, as well as the source code of the network itself. Based on these changes, the developer has launched its own network.
Litecoin vs. Bitcoin
Brief history of Litecoin
This cryptocurrency was developed in the likeness of Bitcoin, and the creator’s identity, unlike the creator of the most popular cryptocurrency, is known to all – Charles Li, an employee of Coinbase, who previously worked at Google. He launched Litecoin on 10/13/2011, but success was achieved only in 2013 when the capitalization of this virtual currency increased sharply.
The sharp rise was followed by a gradual decline in interest in Litecoin, since the sizes of the blocks added to the blockchain became too large, and the structural units themselves became too complex. This led to a fall in the rate and loss of interest from the miners.
Who made Litecoin?
Differences of Litecoin and Bitcoin
One of the well-known drawbacks of Bitcoin is the low speed of generating a chain of blocks, which is why network users have many hours of transaction freezing. In Litecoin, this parameter is at least 4 times higher, which allows processing a greater number of transactions during the same time period. In addition, due to the high generation rate of the unit, additional protection against double waste is provided. The number of coins that can be mined also compares favorably.
Litecoin Capitalization
Both the exchange rate and capitalization of the currency have a pronounced positive trend. For example, the first indicator in April of the current year was only about $ 9, and the second – 443 million dollars. By capitalization, this currency at the end of 2017 occupied the 5th place in the world. Her course was about $ 54. During the year, it rose to $ 70, the maximum rate was $ 90. Exchanges that support Litecoin more than Bitcoin.
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Litecoins Advantages
Since litecoin is essentially a slightly modified bitcoin, it is also mined. For mining Bitcoin, the SHA-256 algorithm is used, which uses a processor. Litecoin uses the script algorithm, which requires more memory. Like in the original Bitcoin, the issue of emission is limited and amounts to 84 million coins. In bitcoin 4 times less: 21 million coins. At the moment, only a quarter of this amount is already mined, so it will mine even more. At first, the miners for each new block received 50 LTC, but approximately every 4 years or 840 thousand blocks the amount of remuneration is halved. This is justified by the fact that the rate is growing, and the remuneration remains essentially the same. Now the reward for one new unit is 25 LTC, approximately in 2019, it will decrease by another 2 times and amount to 12.5 LTC.
The creator of the most successful Bitcoin analog project, a young genius from Canada with Russian roots, Vitalik Buterin is a legend of the cryptocurrency world. In 2008, someone Satoshi Nakamoto invented a revolutionary, completely different from anything before that moment, a monetary asset – bitcoin. In 2014, inspired by this development, the 19-year-old student created an absolutely new project that seeks to radically transform the entire Internet and change the entire existing economic system beyond recognition. This student’s name is Vitalik Buterin, and his project is called Ethereum.
Short biography of Vitalik Buterin
Vitalik was born on January 31, 1994 in the city of Kolomin in Russia. His parents – father Dmitry and mother Natalia – at that time were students of the technical university and studied at the faculty of computer science. At the age of 4, dad presented the boy with the first computer, which became his favorite toy. Interestingly, at such a young age the child was not interested in video games, the most exciting thing for him was creating macros in Excel. The father was not happy about this and asked the boy to finish his studies and get a diploma. However, Buterin refused and continued to act in his own way.
Running Bitcoin Magazine
Soon, he attracted the attention of the Romanian crypto enthusiast Mihai Alisi. Familiarity Buterin and Alice led to the fact that in 2012, they became the founders of the monthly magazine dedicated to bitcoin and cryptotechnology – Bitcoin Magazine. In parallel with his work in the publication, Buterin worked as a programmer in the Dark Wallet project, which developed a secure cryptocurrency wallet, and in the startup Egora, a decentralized marketplace on Blockchain.
Birth of ideak
A couple of years later, he handed over the magazine to BTC Media, while he himself began to study the alternative use of bitcoin and blockchain. In this, he was helped by Israeli developers from the Mastercoin and CovertCoins projects, who were charged with the idea of releasing alternative bitcoin-based tokens. Then Buterin came to the conclusion that with the help of the Turing language (which allows solving problems according to an algorithm using RAM), a mass generalization of the functions of the protocols is possible. This is how the Ethereum project, created together with Mihai Alisi, Joe Lubin, Gavin Wood, Charlie Hoskinson, and Anthony Di Iorio, appeared.
Writing the Ethereum white paper
In 2013, “white paper Ethereum” was born. The project team, in addition to Buterin and Alice, included entrepreneur and founder of Jaxx startup Anthony Di Loriot, as well as mathematician Charles Hoskinson, one of the main creators of the platform technology. Soon, Gavin Wood joined the project (He wrote for Ethereum Yellow paper – a preliminary technological description of the project, explaining the details of the processing of the distributed book data and the performance of smart contracts) and Joseph Lubin (Founder of ConsenSys, a developer of decentralized applications).
In parallel, Buterin received a Tile grant for young entrepreneurs seeking to change the world. 100 thousand dollars was enough for the project in order to cover the expenses at the beginning of the Ethereum project development.
Ethereum ICO
In 2014, the registration of the Ethereum headquarters in Switzerland was carried out. According to Buterin, the choice of the country was due to its world-famous banking system reliability, as well as the presence of favorable conditions for the conduct of cryptocurrency activities.
In the summer of the same year, the crowdfunding project was completed – he brought 31 thousand bitcoins to his creators. In return for spent BTC, the project investors received the first in the history of ETH. Then 60 thousand platform tokens were released. The full launch of Ethereum occurred in July 2015. Over the year, the project gained incredible popularity, but the platform was not afraid to accept quite risky ideas for implementation.