Basic Cryptocurrency Terminology
Hi folks ! if you have access to internet , then I am sure you would have came across this term cryptocurrency or bitcoin or digital gold etc. There is currently full different wave of it in market , & why shouldn’t be , its a technology marvellous where noone holds the power.
To be frank, I am not going into its history, you can refer to literally millions of other pages.I was also wooed by its price and wanted to invest or buy some but was always unaware what actually determine any cryptocurrency worth.
So here I am shedding some light on few fundamental criteria on which you can & you should judge.
1.) Underlying Technology
2.) Problem it solves & benefits
3.) Who owns it ?
4.) Total Coins Available
4.) Circulating Supply : Total number of coins in market currently (n)
5.) Market Cap : = (n) * price_of_1_coin
|Coin Name||Technology||Own By||Max Supply Ever Possible||Circulating supply / Existing Count||Market capital|
|Bitcoin (BTC)||Blockchain||No one : its Decentralised||21 Million : 2,10,00,000||18.8M||66.6Trillion|
|Ethereum (ETH)||Blockchain||No one : its Decentralised||Unlimited||117M||27.9Trillion|
|Binance (BNB)||Blockchain||176 Million : 176,406,561||168.1M||6Trillion|
|Ripple (XRP)||Blockchain||100,000 Million : 100 B||46500M||3.9Trillion|
|Cardano (ADA)||Blockchain||45,000 Million : 45 B||32100M||6.8 Trillion|
|Bit Torrent (BTT)||Blockchain||990,000 Million : 990 B||659953 M||0.004 B|
|Safemoon||Blockchain||1000 Trillion||585536000 M||0.002 B|
**below data is at the time of writing this blog