Types Of Crypto - Crypto Centric Notes Jan. 2nd

3년 전

Types of Cryptocurrency

“Currency” Coins

(ex.) (Peercoin, Bitcoin, Litecoin, Vertcoin)
Currency coins are the original Blockchain infrastructure. These networks prioritize security over transaction speed through POW governance. Although some currency coins are faster in nature they do not prioritize speed over security. Their primary utility is “storage of value” but can also be accepted by merchants for goods or services in day to day business and transactions.

Smart Contract Platforms

(ex.) (EOS, Ethereum)
The ability to draw an agreement without the involvement of a third party allows for frictionless business and transactions between two entities. Innovation in the space usually caters to a demand in the space and 2017 showed that with things like Ethereum. Smart Contracts in the Blockchain space clearly show great value as large corporations scramble to utilize blockchain tech in every minute of their daily lives with every movement of every dime.

“A smart contract is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow to perform credible transactions without third parties. ... Smart contracts were first proposed by Nick Szabo in 1994.”

Anonymity Coins

(ex.) (Monero, Zcash)
Invisible money is pretty awesome. You dont have to pay taxes. No one knows your business. Your wealth is completely confidential. Thats nice. These ledgers hold a lot of value because of that. As our worlds grows at an exponential rate, anonymity is something everyone can value.

Graphene Blockchains

(ex.) (Bitshares, Steem, Peerplays)
Graphene blockchains prioritize transaction speed and transaction cost over network governance. With a POS format, these blockchains are governed through witnesses rather than mining or hashing power. This allows for micropayments.

These are just some examples of the many subcategories of cryptocurrency. As innovation continues roll out we can conclude these subcategories and the continuous subcategories that form underneath them are infinite. Blockchain technologies utility is yet to be explored. Each network contributes to the space in its own way as a whole. Certain blockchains require specific characteristics as society requires specific characteristics in transaction or currency use-case based on the users preference.

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prioritizing speed over security is much dangerous because most of the transactions are heavy money! and there is no way for back up.. :(

Thanks for sharing this post very useful you categorised them well :)

Bitshares and Steem

So glad I found these two in 2017. Looking forward to what this next year will bring with these cryptos.

i like the anonymity coins but seems like they go up and down

first ever time i came to know about Graphene Blockchains
thanks a lot for sharing this

which one would be your choice for the long term