BitTorrent Token (BTT) was launched in early 2019 by the BitTorrent Company whose owner is Justin Sun. BTT was aimed to be a Decentralized file sharing protocol via a vast peer to peer (P2P) network on the internet.
BTT was launched on the Tron Blockchain. Tron is also owned by Justin Sun. (Know more about Tron - TRX coin here)
Anyone who uses the file sharing protocol enabled by Bittorrent company can get BTT as reward or fee for participating in the network.
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BitTorrent Token Logo |
(I will explain more details in next week's post "How to earn the BTT Freely". Bookmark this site if interested)
Ticker Symbol for BitTorrent Token is "BTT"
Here is a Live Chart of Trading rates for Buying and Selling BTT in Crypto Markets:
Bitcoin Cash is a direct hard fork from Bitcoin. It was created in the year 2017.
Ticker Symbol for Bitcoin Cash is "BCH"
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| Bitcoin Cash Logo |
Soon after it went live, the price of each bitcoin cash coin pumped significantly and had grown very swiftly to be a dominating ALT Coin in the Crypto Markets.
One major difference and requirement for existence of BCH is that the size of each block in the Blockchain of BTC is of 1 MB. A part of the community felt this is quite low and decided to fork a new coin with increased block size so that more number of transactions can be stored in each block.
Each block in BCH network is 32 Mega Bytes in size.
In 2018, a new part of Bitcoin Cash network was introduced with name "Bitcoin SV".
Here is a Live Chart of Trading rates for Buying and Selling BCH:
Bitcoin Gold is a direct hard fork from Bitcoin. It was also created in the year 2017 (October).
Ticker Symbol for Bitcoin Gold is "BTG"
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| Bitcoin Gold Logo |
This made hard for individual users for earning bitcoins because the mining ware houses contribute humongous Computational Power so that common man with normal computer won't stand a chance to compete with them.
Therefore, Bitcoin gold was created by modifying the Mining Algorithm from tradittional SHA 256 to "Equihash". This would make all those mining warehouses less efficient because equihash can be computed with normal GPU processing power itself thereby removing the advantage for mining corporates and restoring the true decentralization in the network.
Here is a Live Chart of Trading rates for Buying and Selling BTG:
Bitcoin Mining is the process through which the Bitcoin transactions will be validated or verified. This could be done by anyone who has processing power for computation (like a computer or dedicated hardware for mining).
Each transaction will have some transaction fee depending upon the transacted amount. Many transactions are put into a block and it is validated by miners. Whoever validates the block first, that miner will get the total fee of all transactions as a reward for mining the block successfully.
Then, that block is added to the Blockchain ledger. This process will continue and blocks will be mined and added to Blockchain.
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| Mining Rigs |
In order to mine a block, a miner has to solve the cryptographic puzzle (finding a hash below the target) and that miner has to be the first one to solve the puzzle. This is known as Proof of Work (PoW).
So, one must possess enormous capacity of computational processing power and must be extremely lucky for successfully mining a BTC Block !
As we know the bitcoins hold a high market value in Cryptocurrency domain, the competition among miners to mine the block is extremely high.
Nobody knows the real identity of Satoshi Nakamoto !
It was the username/alias of the leading member(or members) of online community which developed the first crypto currency – BITCOIN. Satoshi Nakamoto is the founder of Bitcoin.
Some facts of Satoshi Nakamoto:
The fundamental constituent of bitcoin in terms of currency value is Satoshi.
For Dollars $ -- cents
For Bitcoins -- Satoshi
Blockchain is a continuous chain of blocks which are linked together sequentially. For understanding purpose consider the trains. All the bogies are blocks and the train itself is the blockchain. Just like the bogies of train are connected to one another, all the blocks are linked with a Hash. Biggest use-case of a blockchain is with Cryptocurrency / Bitcoin.
In every block, there will be some fields which hold respective data corresponding to the field.
Fields in a Block:
If a new block is to be added to the chain, then it must hold the hash value of the last added block in the chain. Then this new block's hash value is copied to the next new block that will be added to the chain after some time.
A new block is added to the existing chain only if a miner validates that block using a process called Mining. Anyone on the internet can do mining and earn bitcoins (BTC). (Know more about the Mining process in this article)
In Computer Science field, this is familiar and follows the same principle of a Linked List Data Structure.
A Blockchain is decentralized, which means there won’t be any governing authority which can hold ultimate rights over the data. Everybody on the Internet can look up the data in the Blockchain whenever they want.
Blockchain acts as a distributed ledger for Bitcoin transactions.
The concept was first introduced by Satoshi Nakamoto. Know more details about this mysterious man in next post.
You might also be interested in Other Technologies Bechind Bitcoin / Cryptocurrency
Cryptocurrency is a virtual form of money which cannot exist physically. All the transactions can happen only on the internet. Users will have a wallet in which the crypto coins are stored securely and users can transfer or receive coins through peer to peer mechanism (without any mediator in between). All they transactions are registered on a digital ledger called Blockchain.
Generally, the money related transactions are made through banks acting as mediators between sender and receiver. There is no such system in Cryptocurrency transactions. They follow a Peer to Peer mechanism of protocol.
Cryptocurrency is Decentralized system, which means all the users have complete rights over their data.
The most popular and first cryptocurrency that came into existence is Bitcoin (Know more about Bitcoin here)
But what exactly is the use of cryptocurrency?
The most popular reason is that the transactions are anonymous. We can’t know the personal details of sender or receiver of bitcoins. Only things which are visible to everyone on the block chain are: Public keys, transaction amount and transaction ID.
How do the Cryptocurrencies come into existence ?
All the coins (including Bitcoins / btc or other ALT Coins) are created by Mining. (Check this article for more about Mining)
Sounds confusing? Don’t worry it will be explained in later articles. Just keep gaining the knowledge. Jump to next post.
DogeCoin was founded in the year 2013 by some software engineers. Doge coin is based on the famous internet meme of Doge. The Doge meme consists of a dog which is of type Shiba Inu.
Creators of this Dogecoin digital currency are as follows
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| DogeCoin Logo |
Ticker Symbol for DogeCoin in exchange platforms is "DOGE"
Since it has been forked from LTC, the Proof of Work(PoW) Algorithm will be "Scrypt" (same as that of LTC). Each new block will take around 1 minute for getting validated on the network of doge transactions.
The total market supply of Dogecoins is unlimited. There exists no limit or capped amount at which new doges are not produced anymore. Doge can be used for rewarding the users who share the content you like on Reddit or Twitter Platforms.
Elon Musk Tweeted (Yes, you read it correct, its really Elon Musk) about Dogecoin which created a huge hype its market and made the price of doge to spike up to its all time high value. Users of social media platforms like, Twitter, Reddit and TikTok started trending about DogeCoin in order to make it value to raise above the 1$ (USD) mark.
Here is a Live Chart of Trading rates for Buying and Selling DOGE:
MovieBloc is a entertainment project which aims to decentralize the Theatre and Home Screening of movies and other entertainment based video content.
Moviebloc was founded in the year 2019 and relatively new addition into the market when compared to other popular and dominating ALT Coins.
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| MovieBloc Logo |
Content creators will get revenue and share from MBL. Contributors who volunteer to improve the platform will also get rewarded. This includes adding subtitles, correcting the metadata of content or promoting & marketing etc...
Many analysts believe MBL has good potential in market because of its new age project. Many OTT or Content Streaming Services have been coming along since the last 2 years. These platforms have witnessed extreme business and great customer satisfaction and convenience had been given as feedback.
Based on the trends & data of OTT legends like Netflix and Amazon Prime Video, I personally feel that MovieBloc will do great in the next 5 years if the project receives more content globally from various countries.
You can visit the free MovieBloc Streaming service here
MBL can be traded as well in the Crypto Market. As of now, the coin has very little market value.
Here is a Live Chart of Trading rates for Buying and Selling MBL:
LiteCoin is aimed to be a true alternative to the BitCoin. Litecoin was initially released via Github in 2011, which makes it one of the oldest ALT Coins available in Crypto Markets.
Litecoin and Bitcoin are almost similar and they both have very slight differences:
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| LiteCoin Logo |
Ticker Symbol for Lite Coin is LTC in Crypto Trading Markets.
LTC enjoyed its all time peak price during the period December-2017 to January-2018. Looking at the current trend, in the coming months it might reach a new all time high (not an advice, just an estimated forecast).
Here is a Live Chart of Trading rates for Buying and Selling LTC:
Tron is a Cryptocurrency whose main goal is to provide a decentralized Operating System that is Open Source and runs on top of a Blockchain.
Tron was founded by Justin Sun. He also acquired the Bittorrent company.
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Tron Logo |
Ticker Symbol for Tron is "TRX " in Crypto Market Trading Platforms.
Decentralized Streaming Services like DLive and other Dapp Stores / Music sites make use of Tron's Blockchain.
Here is a Live Chart of Trading rates for Buying and Selling TRX:
Tether is extensively used in Crypto markets as an alternative for US Dollar. All the Trading Platforms would facilitate the exchange market with Tether Pairing along with Bitcoin Pairings.
Tether is originally designed to be always equal to 1$ (USD). Therefore, Tether is obviously a Stable Coin.
Ticker Symbol in Market for Tether is "USDT" (stands for US Dollar Tether).
It successfully managed its price balanced on par with 1USD always (with insignificant and negligible fluctuations in price).
Tether was developed by Tether Limited Company and it had faced many legal issues by US Government due to various reasons.
You can see the Live Chart for Tether maintaining a constant value fixed to the price of USD:
Ripple is another old and well known prevailing ALT Coin. It is intended for designing a settlement system with the help of a Blockchain.
Ripple uses Distributed and Open source networks just like all other Cryptocurrencies. However Ripple is different from the norm in its protocol. Ripple is a Payment Protocol.
Ticker Symbol in Trading Market for Ripple is XRP
Though Ripple entered into the market in 2013, its price had been maintained at rock bottom for more than 4 years until it saw an all time peak of 1XRP=3$+ in January - 2018
This is the Live Chart for Trading Pair of XRP and USD in Crypto Market:
Dash is one of the oldest Cryptocurrencies that came into existence after the Bitcoin. DASH coin has some history associated with it.
In 2014, a man named Evan Duffield introduced a new coin with name "XCoin". This Xcoin is forked from BTC and follows the Bitcoin Protocol.
Later, it was named as "DarkCoin" because of the fact that it had been used extensively in the dark net's anonymous market transactions.
Finally in 2015, It was again renamed to "DASH" and settled as an ALT Coin in the Crypto Trade market.
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| Dash Coin Logo |
Dash Stands for Digital Cash
Ticker Symbol for Digital Cash Coin is "DASH" itself.
Dash coin reached its all time high price in March - 2017 as of now.
Here is a Live Chart for Crypto Market Exchange rate of DASH - USD:
Ethereum is introduced practically in the year 2015 and has been used extensively by crypto traders. It is the 2nd most widely accepted and used Cryptocurrency after Bitcoin.
Unlike Bitcoin, Ethereum enables to run derivatives on top of its Blockchain.
Ethereum stands well above other ALT Coins in terms of market price.
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| Icon for ETHEREUM |
In 2016, Ethereum community decided to hard fork into a new derivative due to a flaw in implementation. The original ethereum blockchain continued to grow by the name Ethereum Classic.
Ticker Symbol for Ethereum is ETH
ETH is available for buying or selling in almost all the trading platforms of crypto. Good number of coin pairs are also available for exchanging with ETH.
Here is a live chart of market price for trading Ethereum & USD:
Do you want to know about the methods to start earning passive income through Cryptocurrency ?
Do you want to exchange your Bitcoins into rising ALT Coins or Stable Coins ?
Or do you simply want to buy some crypto with normal FIAT currency?
Your answer for all the above questions is same - Trading Platforms for Crypto !
There are many coin exchange platforms that have been introduced since the roar of BTC Price in recent years. We can sign up to those websites free of cost and start investing or exchanging between the numerous coin pairs in the market.
NOTE: This is not Financial Advice. This is just for the purpose providing information !!
The following are some good Crypto Trading Platforms:
Visit Website - https://www.binance.com/en
Visit Website - https://www.mxc.com/
Visit Website - https://www.coinbase.com/
Visit Website - https://wazirx.com/
BITCOIN -The origin of a new era in Digital Currency / CryptoCurrency !
Bitcoins are a form of virtual currency or CryptoCurrency which possess a high market value as of now. This is a new form of exchange transactions without the necessity of physical coins or notes. Everything is virtual and decentralized.
Unlike normal FIAT currency, we don't need a mediator or governing authority (like bank) for approving the transactions. Instead, all the bitcoin transactions are validated by Miners and every transaction details are stored in a distributed ledger called BlockChain.
This concept was first proposed and implemented by the mysterious Satoshi Nakamoto. (Know more about Satoshi Nakamoto here)
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| Bitcoin Logo (Source : Wikipedia) |
This Blockchain ledger is distributed / decentralized, in the sense : anyone on the internet can look up the ledger and its transactions at any time. This blockchain is stored in many computers (called Nodes in Bitcoin jargon) and it is fault tolerant with the help of an efficient consensus protocol.
New Bitcoins are generated through a process called Mining.
Bitcoins can be used for online transactions and Trading. In recent times, many people have been earning passive income with bitcoins and it has become quite lucrative !
Network of Stellar was introduced in 2015. Over 4 billion transactions generated by almost 4 million person users have been recorded ever since. Stellar was selected by major corporations and businesses as tiny as solitary startups to transfer capital and increase brand awareness.
Everything is kept in harmony by a special application named the Stellar Consensus Protocol (SCP). There are several methods to get acceptance in a decentralized framework. The groundbreaking proof-of-work technique of Bitcoin was the first and has always been the most popular.
Yet proof-of-work provided time for feedback, just like several other initial versions. While being customizable, quick, and extremely efficient in performance, SCP aims to be greater & better.
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| Stellar Logo |
Ticker Symbol for Stellar in Crypto Markets is "XLM"
Stellar Lumens are not created or rewarded by that of the algorithm throughout time, unlike the other ALT Coins of many other Blockchain systems. Rather, once the Stellar network came online, 100 billion lumens have been produced, and for the first Five years of Stellar's life, the quantity of lumens actually raised by One percent per annum, through its in built model.
Here is a Live Chart of Trading rates for Buying and Selling XLM:
Earning money with Bitcoins and ALT Coins has become quite popular in recent years and many people are making significant amount of passive income thorough this field.
The following are the ways you can earn some income using Cyrptocurrencies.
Trading is the most popular way to earn money using Cryptocurrency. There are many exchange platforms where you can buy or sell coins with FIAT currency or exchange directly with other crypto coins or tokens.
See this Post for detailed overview of these Trading Platforms
NOTE : This is not any financial or Trading advice, This is just for informative purpose.
Through Mining, we can directly earn coins without any trading platform. If a miner validates any block successfully, then the reward of that block is paid to the miner. then that can be exchanged into normal FIAT currency or it can be loaded to any trading platform for exchanging to other coins.
Mining can be of 2 types:
Individual Mining - A sole person or any individual will mine in their house with a simple mining rig or a Graphics Processing hardware and tries to validate the blocks of respective Blockchains.
This is very inefficient because it is highly impossible to mine a block with such little computation processing power.
Mining Pools - Many Individual miners/users combine together and form a pool and try to find the value of SHA 256 Hash that falls below the target.
Mining pool services are offered by some websites. Users can sign up and start mining. The work will be distributed among all the individual miners.
If someone in the pool finds the required hash meaning that the block has been mined successfully, then the reward will be split to all users in the pool prportionately to the processing power they contributed to the pool.
Cosmos is a Cryptocurrency project which: in kind of a broad sense, Cosmos declares itself a campaign that tackles several of the Cryptocurrency sector's "greatest challenges." It seeks to bring a remedy to "slow, costly, collaboratively to achieve and energy intensive" proof-of-work protocols, such as those used by Bitcoin, by providing an ecosphere of linked blockchains.
Due to a flexible architecture that is going to be made distributed applications, the proposal's of Cosmos other aims are creating Blockchain Technology less confusing and less hard for programmers. Next, a standard for Interblockchain communication allows it simpler for blockchain systems to interact with one another, avoiding market splitting.
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| Cosmos Logo |
Cosmos is considered to be "Blockchain 3.0"
Ticker Symbol for Cosmos in Crypto markets is "ATOM"
ATOM coins were related by Cosmos to that same ASICs which have been used by miners for Mining the Bitcoins. This is a bit of virtualized hardware or financial powerhouse that we should acquire in opportunity to involve as a holder in the network," like a scientific piece of paper published by the Tendermint online community.
Here is a Live Chart of Trading rates for Buying and Selling ATOM: