Cryptocurrency Market Description in 3 Words with Infographic
Bitcoin and Ethereum which are the two highly disruptive cryptos are looking to leverage the blockchain technologies and drive innovation to various industries. The objective is to analyze each cryptocurrency and develop an ideal investment strategy for a high investment which must be held for five years without any trading. The cryptocurrency market professionals identified the most probable factors for the demand of these cryptocurrencies.
Bitcoin is expected to offer a high value, but it’s volatile and speculative nature needs a diversification across the platforms. Money is considered good if it fulfils the criteria of being durable, portable, divisible and has an intrinsic value. Earlier the preferred medium of exchange was gold as it could fulfil the four criteria.
But as the economies grew and the demand for the medium of exchange increased, governments were forced to bring a more accessible medium of exchange, which can be controlled and regulated. This concept gave birth to fiat currency that has been adopted worldwide.
This conventional currency also had its own set of issues. In order to fix them, the emerging of the cryptocurrency market began in 2009, with a leveraging disruptive technology called as blockchain. This cryptocurrency uses cryptography for its security. Blockchains deals with the data on how it is structured and allows for decentralized digital ledgers, where no single entity can authorize or effect the transactions.
At present, Ethereum and Bitcoin are the two most adopted cryptos in the cryptocurrency market
With the rise in popularity of the cryptos many investors have determined to invest in this new asset class. Similar to any investment into a new technology various factors are looked into while assessing the future. To take an informed decision about it the origins of the technology along with its potential applications and limitations need to be foreseen.
Our friends at MrBtc.org created a beautiful infographic on 33 Cryptocurrencies described in four words or less, please check out the following infographic and share your thoughts on it
The primary use case of Bitcoin revolves around the increasing efficiency and eliminates the unnecessary time and costs that arrive from multiple third parties to facilitate the transactions.
Bitcoin is getting highly adopted in the markets that lack in traditional financial infrastructure, also in markets with highly inflated currencies. The multi-version concurrency control of Bitcoin is unique and allows for safe transactions without any delay.
Ethereum has the ability to leverage the application of smart contract with its code and has been growing at a much significant rate over the past year. The advantage of Ethereum is that as long as it can be properly coded, the Etheruem’s smart contract carries a potentially unlimited utility.
839 total views, 1 views today