After Nakamoto created Bitcoin in 2008, dozens of decentralized cryptocurrencies have been launched. Today there are approximately 1700 and the number does not stop increasing. However, among the most popular and highest value are:
Bitcoin: the first cryptocurrency worldwide. It is positioned as the most popular in virtual markets, even though it is not completely legal in all countries.
Ethereum: Based on the bases of Turing, this cryptocurrency gives developers the opportunity to create different applications or improve existing ones that are not compatible with the Bitcoin platform.
Bitcoin Cash: Its origin comes from a separation from the Bitcoin community. Its value has been increasing considerably, managing to position itself among the list of the top five cryptocurrencies, in terms of market capitalization.
Bitcoin Gold: Based on Bitcoin, it uses another type of algorithm that allows it to be encrypted. In all other respects, he has decided to follow the guidelines of the Bitcoin project.
Litecoin: This cryptocurrency was founded with one main motive: to be “digital silver”, compared to Bitcoin's term used: “digital gold”. It is considered a fork of the Bitcoin community, with the difference that its limit is 84 million (against 21 of Bitcoin) and can generate blocks four times faster.
Ripple - What sets it apart from other cryptocurrencies is that it doesn't use the blockchain for transactions to reach consensus across the community. For its part, it uses an iterative consensus process that, while true, makes it vulnerable to hacker attacks, allows it to operate faster than Bitcoin.
Dash: this network is divided into two levels: the first is made up of miners who guarantee network security and register operations much faster than Bitcoin miners, while the second is made up of so-called "master nodes" . The latter are responsible for transmitting the transaction again and enable other types of transactions such as: PrivateSend and InstantSend, always remaining anonymous.
BXP Chip Coin: the first cryptocurrency created in Mexico and that gives its citizens (and anyone in the world) the possibility to invest in it, gamble and use it starting this year.
How do cryptocurrencies work?
Each of the transactions that are carried out are sent between pairs from the wallets of the people who are involved in the transaction, just when the public codes coincide. These public codes are related to each of the private passwords or cryptographic keys created by users and ensure that each transaction reaches the other person's digital wallet. Then, the transactions that were made are recorded in the public ledger, better known as “Blockchain” or in Spanish: blockchain. Any user who is part of the same cryptocurrency will be able to access the ledger, as long as they have downloaded a full node wallet instead of a virtual wallet, such as Coinbase. Once they have accessed they will be able to view the amounts of each of the operations, but not the account number (since it is encrypted).
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