July 07th, 2024

How many Types of cryptocurrency?

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Akshat Gupta
3 years ago Selected
There are about 1000 cryptocurrencies in the immediate time, but there are some of them, which are used a lot. Important cryptocurrencies are being described here.

1: Ether and Ethereum : It is used as an interchange currency. Ether is a kind of token. It is used for transactions under the Ethereum block chain.

2: Litecoin: It was invented in the year 2011. It also works with the help of decentralized technology like named coin. With its help, bitcoin works faster.

3: Dash: Dash cryptocurrency was invented in the year 2014. Initially it was known as Dark Coin. It works with the help of a network called 'masternode'. This network is faster and more efficient than bitcoin.

4: Jade Cash: It appeared in October 2016. This is a new type of currency in this region. All the information is encrypted during its use, yet it cannot be used for 'double spend'.

5: Monero: This is also a special kind of cryptocurrency. A special type of security is used in this, which is named Ring Signature. This happens a lot in the 'dark web black market'. Smuggling is done with its help. Therefore, black marketing becomes easy by using it.
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