What is Cryptocurrency And Its Types 2022

Did you hear about these terms before plastic money!! Digital currency!!!Blockchain
money!!! These all names represent one thing that’s Cryptocurrency, now here is some questions Popped up in your mind.

What is cryptocurrency??

What’s about internal market trends?? Now let’s find the answers together

Cryptocurrency does not exist in physical form (like paper money) and is typically not issued by a
central authority. Cryptocurrencies typically use decentralized control as opposed to a central bank
digital currency (CBDC). These digital currencies provide you with complete ownership. In 1983, the
American cryptographer David Chaum conceived anonymous cryptographic electronic
money namede cash, furthermore, some changes takes place under the National Security Agency.

There is no hard and fast rule the categorization of the cryptocurrency. All the rules are set by
specific state or a stakeholder for example

What is Cryptocurrency

Largest cryptocurrencies by market cap

1.Bitcoin(BTC)

 Price:$37,340

 Marketcap:$700billion

2. Ethereum(ETH)

 Price:$2,496
 Marketcap:$293billion

The second name you’re most likely to recognize in the crypto space. The system allows you to
use ether (the currency) to perform a number of functions, but the smart contract aspect of
Ethereum helps make it a popular currency.

3.Tether(USDT)

 Price:$1.00
 Marketcap:$78billion

Tether’s price is anchored at $1 per coin. That’s because it is what’s called a stablecoin.
However, some people are concerned that Tether isn’t safely backed by dollars held in reserve
but instead uses a short-term form of unsecured debt.

4.BinanceCoin(BNB)

 Price:$385.66

 Marketcap: $62billion

Binance Coin is the cryptocurrency issued by Binance, among the largest crypto exchanges in
the world.

5.USDCoin(USDC)

 Price:$1.00
 Marketcap:$48billion

Like Tether, USD Coin is a stable coin pegged to the dollar, meaning that its value should not
fluctuate.

6.Cardano(ADA)

 Price:$1.07
 Marketcap:$35billion

Cardano is the cryptocurrency platform behind ad, the name of the currency. Created by the co-
founder of Ethereum, Cardano also uses smart contracts, enabling identity management.

7.Solana(SOL)

 Price:$98.89
 Marketcap:$30billion

Launched in March 2020, Solana is a newer cryptocurrency and it touts its speed at completing
transactions and the overall robustness of its “web-scale ”platform.The issuance of the
currency, called SOL, iscapped at 480 millioncoins.

8.XRP(XRP)

 Price:$0.6162
 Marketcap:$29billion

Formerly known as Ripple and created in 2012, XRP offers away to pay in many different real-
world currencies.

9.Terra(LUNA)

 Price:$66.07
 Marketcap:$26billion

Using its currency Luna, Terra is a platform that helps backstop arange of stablecoins based on
real currencies such as the dollar oreuro.Terra helps stabilize the price of stablecoins through various technical means,and it also supports smart contracts.

10.Dogecoin(DOGE)

 Price:$0.1465
 Marketcap:$19billion

Originally created as a joke after the run-up in Bitcoin, Dogecoin takes its name from an internet
meme featuring a Shiba Inudog.

11.Polkadot(DOT)

 Price:$18.85
 Marketcap:$19billion

Launched in May 2020, Polkadot is a digital currency that connects the technology of block
chain from many different cryptocurrencies.

12.Avalanche(AVAX)

 Price:$69.15
 Marketcap:$16billion

Avalanche is a fast and low-cost smart contracts-based blockchain platform focused on
building decentralized apps and facilitating the creation of custom blockchains.

Cryptocurrency networks, mining are validation of transactions.For this effort, successful
miners obtain new cryptocurrency as a reward. The reward decreases transaction fees by
creating a complementary incentive to contribute to the processing power of the network.

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