When we talk about cryptocurrency, it is always important for us to know in detail about cryptocurrency. Put in simple words, cryptocurrency is a new form of a digital based asset that works in network, which helps in distributing these currencies across a large number of computers across the world. These currencies are a decentralized structure that allows in existing outside the control of central authorities or even government. To understand it easier, the word “cryptocurrency” is derived from a technique known as encryption technique which are basically used to secure a selected network. There are methods that help in ensuring the integrity of these cryptocurrency transactions and their transactional data, which is known as Blockchains. This is an essential element and plays an important role in cryptocurrency transfers. There are cryptocurrency wallets like neo coin web wallet and also neo token wallet. These wallets play an important role in transfer of these cryptocurrencies. This wallet allows uses to store and retrieve their cryptocurrencies whenever necessary. On the other hand there are many experts who believe that these technologies may disrupt various industries like finance and even law. So before choosing any type of cryptocurrency it is important to know in detail about the. We are here to provide our readers with an information about the types of cryptocurrency available.
Different types of Cryptocurrency
As we all know there are majorly three types of cryptocurrency, they are bitcoins, Altcoins and tokens. However, knowing details about these cryptocurrencies and their types might be helpful and let us know look at some of them below.
Many people may know that, the first blockchain based cryptocurrency was bitcoin. This still remains the most valuable and at the same time the most popular type of cryptocurrency when compared to others. Bitcoin was first launched during the year 2009 by Satoshi Nakamoto. With the growing popularity for cryptocurrencies, there were over 18 million bitcoins in circulation in the market.
The next type of cryptocurrency is altcoins. With the growing majority for cryptocurrencies there are about thousands of altcoins in circulation right now. As the name states altcoins are just an alternate versions of bitcoins that have some minor changes in them. However, there are some altcoins that are not alternate version for bitcoin. These altcoins have very different purpose and goals.
The third and the main type of cryptocurrency is Token. Out of the three main types of cryptocurrency, this is the most interesting one. When compared to the other two types, these are completely unique and in fact these cryptocurrencies do not have their own blockchain.