Cryptocurrency offers people hope of being freed from traditional banking, offering an alternative, open source, decentralized financial system with social responsibility benefits.
Cryptocurrencies are digital assets secured with cryptography. Although cryptocurrencies are relatively new, they have gained increasing acceptance worldwide.
Bitcoin
Bitcoin was the pioneering digital currency to emerge and can operate independently from banks or intermediaries, using cryptography for security and accessible through cryptocurrency wallets or exchanges.
Ethereum is the first cryptocurrency that can be used as payment for goods and services – such as booking hotels on Expedia or buying furniture at Overstock. You can use it to book hotels through Expedia and Overstock respectively.
As with traditional currencies, cryptocurrency cannot be changed back once purchased; moreover, you will face high fees and wait times before transactions are finalized.
As such, many investors seek out privacy coins such as Monero (XMR 0.42%). Monero employs both encryption and anonymity technologies to keep transactions private; making it an excellent option for investors who wish to remain unnoticed in an increasingly regulated cryptocurrency space.
Ethereum
ETH (Ethereum) is one of the world’s most beloved cryptocurrencies, built on blockchain technology which enables secure digital ledgers to be created and maintained publicly.
Ethereum’s decentralized infrastructure means it is independent from any third-party oversight or control, with thousands of independent nodes running the network independently.
This has several advantages, such as making it more resistant to hacks and shutdowns than other cryptocurrencies, as well as offering investors a clear roadmap with attainable objectives that allows them to assess its future performance more accurately.
Smart contracts, an essential feature for many decentralized apps and non-fungible tokens, also natively support this protocol. Smart contracts can be programmed to automatically execute when certain conditions are met without the need for third-party intervention.
Uniswap
Uniswap stands out as an outstanding cryptocurrency on the market, providing an anonymous decentralized exchange platform with no accountancy requirements or ID verification processes to go through in order to trade crypto without incurring hassle from filling out forms and going through ID verification processes. This makes trading crypto much simpler.
Uniswap stands out from traditional exchanges by employing an automated market maker (AMM) model instead. This allows users to contribute liquidity pools while reaping rewards in return.
In response, Uniswap boasts one of the industry’s largest pool sizes. Furthermore, its competitive fees keep it at the forefront against other DEXs.
The platform pays transaction fees to liquidity providers based on the total volume of tokens swapped between them; fees typically range from 0.05%-1.0% with 0.3% being typical. LPs receive their share proportionately of these fees distributed back into the pool. In addition, the network issues its native token UNI to enhance governance purposes and reward users who participate in its protocol.
Shiba Inu
Shiba Inu is a unique cryptocurrency developed on the Ethereum-blockchain that differs from others by being tokenized instead of coin-based.
Shiba Inu’s ecosystem consists of a decentralized exchange, staking platform and NFT collection service. Furthermore, this token is in the process of developing its layer two blockchain known as Shibarium.
Shiba Inu stands out as an ambitious project with its mission of creating an open and decentralized organization without central leadership.
Shiba Inu stands in stark contrast to Dogecoin in that its success depends primarily on community support. Indeed, its brand remains at the core of its success.
Ryoshi token has gained notoriety for donating half its supply to Ethereum founder Vitalik Buterin and India’s COVID relief fund – an act which caused controversy within the community, but Ryoshi claims it actually strengthened it.
