Bitcoin, ethernet, ripple, and Litecoin are the highest-valued virtual currencies so far, with bitcoin taking the lead with far ahead valuation. What are bitcoin, ethernet, ripplecoin and Litecoin? How they were born?
1
Bitcoin (B
Birth time: 2009
Inventor: It is rumored to be a man named Nakamoto
But no one knows what the reality of Nakamoto is, and no one even knows the nature of Nakamoto. As for the work on bitcoin, Nakamoto is all online. In 2008, he emailed a paper on virtual currency, envisioning the future of Bitcoin.
Bitcoin originated:
On October 31, 2008, Mr. Nakamoto, a dissident public, published a bitcoin white paper "Bitcoins: A Point-to-Point Cash Payment System" in the metzdowd.com cryptography mailing list. The report elaborates on his new vision of electronic money - bitcoin come out!
The veterans of the discussion group had never heard of him before, and there were very few details about him. They were all vague and even contradictory. An online profile shows him living in Japan, his e-mail address is from a free service site in Germany, and omnipotent Google has no relevant information about his name. Obviously, "Nakamoto" is a pseudonym. But even though Nakanishi may have become a mystery, his invention has left a puzzled cryptology decade frustrated.
January 3, 2009, Nakamoto Cong official release of the Bitcoin software, the computer manufactured by this software. Nakamoto also became the first person to dig into Bitcoin - he dug 50 bitcoins from the Genesis. About a year or so, his invention was limited to a handful of early adopters. But gradually, the fame of bitcoin goes beyond the island of cryptography. It got the appreciation of the previous research electronic money "predecessors." Wei Dai - inventor of money, calls it "epoch-making."
how to use? Bitcoin transactions like stocks, bonds and currencies need to be traded on the exchange or used as a currency for exchange of services or goods.
2
Ether (ETH)
Birth time: 2014
Inventor: Ethereum founder Vitaliq. Vitalik Buterin
Born in 1994, a real talent in Russia, started programming at the age of 4, and started developing games at the age of 12. Putin, a Russian boy who vowed to subvert the real economy with a blockchain, and a brand-new blockchain platform he built, from big tech companies IBM and Samsung to investment banks Barclays and Credit Suisse, all scrambling to borrow from him expert.
Ether origin:
At the age of 17, my father introduced the novelty toy Bitcoins he had discovered to Putin. At first, Putin did not even glance at it. What did it mean for Bitcoin? But understanding, began to study bitcoin, founded the "bitcoin magazine."
In 2013, Vitalik Bruin, 19, dropped out of the University of Waterloo, Canada. Later in a book entitled "Ethereum White Paper: the next generation of intelligent connectivity and decentralized application platform," the book first mentioned the idea of the ether.
In 2014, the Ethereum algorithm and protocol officially landed and raised $ 150 million. Putin insisted that Ethereum should belong to all and should not be owned by a single company, so the development process does not accept venture capital investment. In July 2014, "Ethereum Project" launched a fundraising campaign for all over the world in terms of subscription of 2,000 Ether Dollars per bitcoin. The result was a big sensation, with over 7 million Ether selling in 12 hours and a 42-day crowdfunding campaign that raised 31,000 bitcoins ($ 18.4 million) for the Ethereum team. The system itself was finalized on July 30, 2015.
In early 2016, Ethereum's technology was recognized by the market, and prices started to skyrocket, attracting a large number of people outside of the developer into the world of Ethereum. On May 31, 2017, Firecoin Network and OKCoin currency bank, two of China's three largest Bitcoin exchanges, formally launched Ethereum.
From the ether name, one can glimpse Putin's lofty hopes of changing the world with a blockchain. Butlin said that the word not only sounded loud and nice, but also its meaning as a matter that was full of the universe and let the light go unnoticed.
The creation of Ethereum has a similar meaning. Buttlin hopes that the application of the blockchain will spread to every area and will use the "light" of the blockchain to create a new world of transparency, fairness and efficiency.
As a result, Ethereum broke the boundaries of the previous blockchain platform, allowing developers to more easily develop blockchain applications, and rapidly emerging applications and start-ups from Ethereum were rapidly emerging. Applications Ranging from music royalty payment systems to energy deals.
3
Ripple(XRP)
Birth time: 2013
Inventors: Chris Larsen and Jed McCaleb
Ripple currency from:
Ripple was first introduced in 2012 by Jed McCaleb, a programmer who created Mt. Gox, a bitcoin exchange that went bankrupt after the client bitcoin was stolen. Jed McCaleb wants to make Ripple a faster and more efficient bitcoin version that excludes the bitcoin mining process used to distribute new coins and protect the Web. Chris Larsen soon started working with McCaleb to start a business, also named Ripple. The company used to develop an open-source Ripple software that allows it to be transferred between digital wallets, one of the currencies through which the software can be paid. McCaleb later left Ripple due to a divorce, but he still retained a considerable amount of Ripple tokens.
effect:
Ripple is the world's first open payment network that allows the transfer of any currency, including the U.S. dollar, the euro, the Chinese yuan, the Japanese yen or the Bitcoin, through the payment network, with easy and quick transaction confirmation in seconds Completed within the transaction costs are almost zero, there is no so-called interbank cross-border and cross-border payment of fees. Ripple is an open source point-to-point payment network that lets you easily, cheaply and securely transfer your money to anyone on the Internet, no matter where in the world. Because Ripple is p2p software, anyone can create a ripple account without any personal, corporate or government control.
Ritcheoncoin is also one of the best performing virtual currencies since 2017, having surged over 20,000% so far this year since closing at 0.64 cents at the end of 2016. In contrast, Bitcoin and the so far year-to-date gains in the etheric currencies were 1,500% and 9,200%, respectively.
4
Litecoin (LTC)
Birth time: 2011
Inventor: Charlie Lee
Charles - Lee graduated from MIT, was a Google employee. Charles Lee, an Asian American, graduated from MIT in 1999 with a bachelor's and master's degree in electrical engineering and computer science. Charles is very young, but 40 years old. Following Nakamoto, he has created the world's leading electronic money LTC, although LTC has no sign of exceeding BTC yet.
Litecoin LTC's R & D team of only six people in total, he met them at the IRC and other technical forums, by chance, they decided to jointly develop an electronic money, and eventually named Lite Coin (light The meaning of the currency of magnitude). Charles said most of the team did not want to be famous for their LTC, they only wanted to make LTC even better.
Litecoin origin:
Charles, who came into contact with Bitcoin around about the beginning of 2011, understands the importance of "ideas," in which he believes that the Internet is an information aggregator and that ideas can dominate information. From that moment, while digging bitcoin like most miners, he began to wonder how to create a better electronic money system.
Litecoin LTC is not Charles's first electronic currency. In 2011, some cottage coins began to appear, such as IXCoin and so on, while Charles also at the time also introduced a purely copy of the cottage, called Fairbrix. Fairbrix is a cottage coin that copies almost completely Tenebrix (another coin). Charles said Tenebrix had pre-dug seven million coins before it was introduced, so it could not get everyone's support and if the currency is to go well, the first condition is that it can not be pre-mined.
Fairbrix uses the sCrypt algorithm, which is more advantageous for CPU operations than the bitcoin's SHA256 algorithm and harder to mine with ASIC mines. But unfortunately Fairbrix has failed. The reason is that just after it was released, it suffered 51% of the cyber attacks and the operating network collapsed. A month later, Charles, unwilling to fail, once again launched a brand new electronic money called LiteCoin, this time he succeeded.
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