The most famous cryptocurrencies explained
The world of cryptocurrencies is not always easy to understand. We at kryptokumpel.de as a German-language contact point for cryptocurrencies and blockchain therefore introduce you to the most important cryptocurrencies such as Bitcoin, Ethereum, IOTA and Ripple (XRP). Simply explained, understandable for everyone!
Bitcoin is the largest and best known cryptocurrency in the world. The digital currency was invented 10 years ago by a person or group called "Satoshi Nakamoto". Who is actually behind the currency remains an unsolved mystery to this day. At its peak, a Bitcoin was worth over $ 20.000.
Ethereum is probably the best known cryptocurrency, right after Bitcoin. Ethereum was particularly successful at the end of 2017 because most ICOs were based on the Ethereum platform and released as ERC-20 tokens. Ethereum enables so-called smart contracts. These enable contracts to be stored on the blockchain.
IOTA - Distributed Ledger Technology
IOTA is based on a completely different technology such as Bitcoin or Ethereum. The project uses what is known as distributed ledger technology. Biggest advantage: the "Tangle" does not get slower as the number of users and transactions increases, but faster!
Ripple (XRP) is one of the top 3 cryptocurrencies in terms of market capitalization and has become particularly known for its collaboration with large banks. Ripple enables fast and very inexpensive cross-border payments.
Stellar Lumens (XLM)
Stellar Lumens wants to connect banks, providers and people worldwide with the crypto currency "XLM" and make the money transfer as fast and cheap as possible. Stellar does not see itself as a partner for banks like Ripple, but wants to promote the common good.