Different Types of Cryptocurrencies

Crypto 2021 information

Types of Cryptocurrencies

Types of Cryptocurrencies The types of cryptocurrencies can be 5 types: digital money, smart contracts, privacy, internet of things and digital content.

What is Digital money?

Digital money Crytosdivisa are basically digital currencies. Its users are associated with the network through a pair of keys, common in cryptography. The public key is analogous to a unique account number for each user. Private keys allow us to carry out transactions and identify ourselves, through a waterproof record of a blockhain. towards a user.

What is Stablecoin?

Stablecoin is a cryptocurrency designed to minimize price volatility in relation to a "stable" asset or basket of assets. A stable currency can be linked to a cryptocurrency, to Fiat money, or to the trade of raw materials (commodities) (such as precious metals or industrial metals). Stable currencies redeemable for currency, merchandise, or fiat money are said to be backed.

What is Smart contracts?

Smart contracts Contracts follow blockchain technology and also cryptocurrencies, for good development in decentralized applications, that is, it provides a place or space for development than other programmers. Through a blockchain, these contracts allow a somewhat schematic and public flow of each of the application instructions, these must be fulfilled by the closing of a transaction.

What is PrivateSend?

Privacy The tokens are going to carry out anonymous and untraceable transactions, many governments have thought that this type of tokens can act as dangerous and fraudulent users. But even though these cryptocurrencies have gained a lot of reputation among people, some examples are: Dash, ZCash, Monero, PivX, Verge, Bytecoin, NAV Coin and CloakCoin.

What is crypto Internet and digital?

Internet and digital content Surely you have heard of this term and it also has its own version within the blockchain. The Internet talks about connections of everyday actions on the Internet. IOTA seeks to be a foundation for devices on the IoT network. They claim that it is the most reliable for money transfers. Digital content blockchain allows you to add files, it even offers decentralized content. where this category benefits their content creators who offer their products in a decentralized manner. Examples Tron seeks to create a decentralized ecosystem for the exchange of industrial entertainment content, for example, it is a decentralized version of YouTube.

Cryptocurrency Type List

Bitcoin is considered a payment currency. Since it is typically used to make payments for goods and services like buying a Tesla, of course this was when it became possible in mid-2020.

Ethereum is considered a Cryptocurrency based on smart contracts. Also for the development of decentralized applications, that is, Ethereum provides a place or space for development for other programmers through a blockchain.

Tether is considered a Stable Coin, these cryptocurrencies have the peculiarity of having the same value as the USD fiat currency. This crypto boast of having backup funds equivalent to the issuance of USDT.

Dash is considered a Crypto DAO, PrivateSend, and InstantSend. But without enbargo the function that stands out the most is PrivateSend, which does not imply that they are not transparent for any user, in reality this option implies the crossing of operations with other users so as not to be able to trace the operations.

Tron is considered a digital and cryptographic content of the Internet. Since the project is best described as a decentralized platform that focuses on content sharing and entertainment; And for that, one of its biggest acquisitions was the BitTorrent file sharing service in 2018.