The world is changing day by day and most of these changes are burdened by the digital world. During these changes, digital currencies took on a new color and flavor, and various types of digital currencies have been introduced so far.
Digital currencies are new payment methods in the not-too-distant future. Since many countries accept digital currencies as a method of payment, it is important to become familiar with the types of digital currencies and to understand how they work.
In this article, we will introduce you to the types of digital currencies and how they work, so stay tuned.
What is digital currency?
First of all, we need to get acquainted with the concept of digital currency. Digital currency is a currency that can be accessed digitally. Today, everything is becoming electronic and digital, such as e-banking, e-learning, e- wallets and more.
Digital currencies, like physical currencies, have special intrinsic properties and allow for instant exchanges. This makes them very popular and supported by the Gonakoni international community.
Atrium is a decentralized software platform that enables smart transactions without any fraud or third party interference. Atrium aims to create a decentralized set of financial services so that anyone anywhere in the world can access it. This can be very attractive and practical for many countries, as everyone can access bank accounts, loans, insurance or other types of financial services.
The Atrium platform offers the Atrium Virtual Machine (EVM), which is a decentralized virtual machine that executes peer-to-peer transactions using the “Ether” currency code
LightCoin is a peer-to-peer digital currency licensed under the MIT / X11. Launched in 2011, LightCoin was one of the first digital currencies to be introduced after Bitcoin, often referred to as the “Silver Bitcoin”.
The digital currency was created by Charlie Lee, a MIT graduate and former Google engineer. Lightcoin is based on an open source global payment network that is not controlled by any organization or central authority and uses only scripts as data loggers that can be decrypted even with the help of mid-range CPUs.
Although this digital currency is somewhat similar to Bitcoin and technically almost identical to it, the speed of transactions in this digital currency is significantly faster than Bitcoin.
Ripple is a free payment network that, as a distributed payment system, makes it easier to make financial transactions. Ripple is basically a blockchain that is designed so that banks can make money transfers and transactions faster.
It is also called Ripple Coin Banking because there are currently various agreements between international banks to invest in this digital currency.
Ripple is more than just an XRP currency code, it is a digital payment protocol that enables smart transactions. This is why the Ripple system allows money to be transferred in any way, whether it is dollars or bitcoins (or other currencies). On the other hand, its extraordinary capability causes 1500 transactions per second to occur, which is unique in its kind.
Cardano is an encrypted digital currency based on the Proof of stake algorithm developed by a team of engineers, mathematicians and cryptographers. The Cardano project was officially started by Charles Hoskinson, one of the five founding members of Atrium.
The Cardano Blockchain support team has established itself by conducting extensive testing and research to assess its sustainability and scalability.
Researchers and contributors to the project have also written more than 90 articles on the digital currency blockchain technology, covering a wide range of topics that can be covered with comprehensive information.
For Cardano digital currency, a very good future can be predicted because in addition to having a good position, it will gain a large market share in the not too distant future.
Cardano is sometimes referred to as Atrium’s main competitor because its blockchain has more capabilities than Atrium.
However, Cardano is still in the early stages and still has a long way to go. Atrium, meanwhile, has officially entered the market and is well supported by many communities and investors.
Cardano prevents fraud, financial fraud, or monetary transactions by creating decentralized financial services similar to Atrium, as well as providing blockchain-based solutions. Today, Cardano’s currency trading under the name ADA is traded at $ 0.31 in the market.
Another pillar is cryptocurrency based on the Proof of stake algorithm, which aims to link other blockchains. Its protocol is designed to connect authorized and unauthorized blockchains to allow systems to work together in a common, integrated platform.
Plekadat was created by Gavin Wood, one of the main founders of the Atrium project, and its main component allows connections between different networks to allow the creation of parallel blockchains with specific tokens for specific purposes.
Unlike Atrium, the Plicadat system allows developers to create their own blockchain instead of creating decentralized applications, and to use the Plicadat blockchain security service.
With Atrium, developers can create new blockchains, but they must take security measures independently and open new, smaller projects. Because the larger the blockchain, the more secure it will be. This feature is known as “shared security” in the Plekadat system.
Bitcoin Cash (BCH)
Bitcoin Cache has an important place in the history of digital currencies because it is one of the oldest and most successful original Bitcoin hard forks. In the world of cryptocurrencies, a fork is created as a result of controversy between developers and miners.
The Bitcoin Cash project officially launched in August 2017. The BCH digital currency was offered for one purpose only, and that was the issue of scalability.
The Bitcoin network has limitations on the size of blockchain blocks, which makes it difficult for some to work with and somewhat cumbersome.
Bitcoin Cache increases the size of blocks from one megabyte to eight megabytes so that they can store more transactions within themselves and significantly increase the speed of transactions.
Bitcoin Cash is one of the most convenient options for trading digital currency in today’s world.
Stellar is an open source blockchain network that facilitates the provision of organizational solutions and smart transactions by establishing connections between financial and credit institutions. With Stellar Digital Currency, you can make big deals between banks and investment companies in just a few seconds without having to spend a lot of time on each of them or because of the need for each. Have.
While Stellar has established itself as an organizational blockchain for institutional transactions, it is still an open source blockchain that anyone can easily use.
On the other hand, this system also allows transactions between any currency. The currency of Stellar is Lumen (XLM). This network needs users to use the lumen to be able to trade in the network.
Stellar was created by Jed McCaleb, a member of the Ripple Laboratory and developer of the Ripple digital currency protocol. He left Ripple after a while and is currently working at Stellar.
Chinlink is a decentralized Oracle network that connects smart contracts (such as Atrium contracts) and data outside of them by building bridges. Blockchains are not able to connect to external applications in a secure way and alternative tools and networks must be used for this, so Chinlink can be a good choice in this case.
Chinalink’s decentralized Oracle service is currently on the Atrium network, enabling the development of Blockchain-based solutions for various companies and businesses.
Bainance Coin (BNB)
Binance Quinn is a digital cryptocurrency application that as a new method of payment, can be an important factor for the growth and development of Binance exchanges (Binance or any other digital currency exchange.
Crypto Binance exchange) which is one of the largest and most important crypto exchanges. In the world) has considerable security and processing speed, and the creation of its digital currency has made it a special and private place in this space.
Get a good discount from BainanceQueenBinanceQueen blockchain provides a wide platform for BainanceCoin Decentralized Exchange to function well.BainanceQueen was created by Changpeng Zhao and is one of the most widely used exchange offices. Currency exchange tools in the world are based on the volume of transactions and transactions.
Tether is one of the first and most popular digital currencies among Stablecoin or stable coins. Since most digital currencies, even popular digital currencies such as Bitcoin, have periodic fluctuations, Tether and other digital currencies belong to the Stablecoin group. With a stable price, they can attract the attention of many users, especially prudent users.
Teter system allows users to transfer currency from other cryptocurrencies to the US dollar faster Give.
Monroe is a secure, proprietary and untraceable digital currency password. The cryptocurrency project was launched in April 2014 and quickly gained the attention of many cryptocurrencies and digital cryptocurrency enthusiasts. The development of this cryptocurrency depends entirely on society.
Monroe was created with a focus on scalability, and uses a special technique called “ring signatures” to fully secure users’ privacy. For this reason, Monroe can be the best means of paying or trading digital currency in the face of international and economic sanctions.