When we talk about crypto currency, many people around us may not know what exactly it is. If you are such a person, we are sure that this article will surely help you in many ways. We are here to provide some important details on the meaning of crypto currency and also provide detailed information about the various types of crypto currency.
Meaning of Crypto Currency
Crypto currency is a new form of digital currency or even form of a digital asset. This works in a network that helps in distributing these crypto currencies across the world in a large number of computers. These crypto currencies are a decentralized structure that allows currencies to exist away from the control of central authorities or even central government. In simple words, the word crypto currency is derived from an encryption technique. These encryption techniques are used to secure a selected network. There are many methods that play major role in helping the integrity of these crypto currencies and their transactions. These crypto currencies have a separate transactional data known as blockchains. This blockchain is an essential element in crypto currency and its transactions. It plays the major role when it comes to transfer of crypto currencies. There are some crypto currency wallets in the industry likeTezos Online Wallet and also Tezos Fundraiser Wallet. These crypto currency wallets play a very important role in the process of transfer of these crypto currencies. These wallets allows its users to store and also retrieve their own crypto currencies whenever they need them. And thus before choosing a crypto currency type, it is safe and also important to know in detail about these crypto currencies and their types.
Types of Cryptocurrency
As many of us know there are three types of crypto currency in majority, which are Bitcoins, Altcoins and Tokens. Hence, knowing the use and also some details of these crypto currencies will surely help and let people know about them in detail.
The first and the major type of crypto currency is the Bitcoin. Many people may have known about Bitcoins, it is the first blockchain based crypto currency. Bitcoin still remains the most popular and also the most valuable type of crypto currency when compared to the other ones. Bitcoins first launched in the year 2009 by a person called Satoshi Nakamoto. There are about eighteen million bitcoins at present in circulation in the market, this is because of the growing popularity of these bitcoins.
The second type of crypto currency is the Altcoins. After bitcoins this is the most popular type of crypto currency. There are about thousands of Altcoins in the market for circulation now. This is only because of its popularity and majority. As the name tells us, these Altcoins are another alternate versions of Bitcoins. These Altcoins have some minor changes within them. However, some of these Altcoins are not alternate version for Bitcoins, as they have different purpose and also different goals.
The next type of crypto currency is Token. The most interesting type of crypto currency when compared to others is token. Tokens are completely unique and they do not have their own kind of blockchains and this is what makes them different from others.