3 Ripple It was introduced in 2012 by Authur Britto Ryan Fugger and David

3 ripple it was introduced in 2012 by authur britto

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3. Ripple – It was introduced in 2012 by Authur Britto, Ryan Fugger, and David Schwartz. Ripple Transaction Protocol (RTXP) was built on distributive open-source Internet protocol and the native cryptocurrency called the XRP (ripples). Banks are rapidly adopting this system because its primary function is to enable secure global financial transactions of any size, without any fees and very quickly. Its market value is €10,3 billion. 4. Litecoin – A former employee of Google company, Charles Lee, presented Litecoin in 2011. It is a P2P internet currency that allows very quick payments and it is almost free for everybody in the world. Litecoin is completely decentralized global payment network. Technically it is very similar to Bitcoin, but it has some improvements such as the greater amount of transactions that can be done at the same time. But Litecoin is like a younger brother of Bitcoin which hasn’t found its real use, so now it is just a backup just in case if Bitcoin fails. 5. Monero – It was created in 2014 and it was focused on privacy and it is a decentralized system. It is the best example of the kryptonite algorithm. It was invented with the aim to add those privacy features that Bitcoin didn’t have. Every transaction made in Bitcoin is documented in the blockchain and the
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©Друштво економиста “Економика” Ниш 114 ЕКОНОМИКА track can’t be traceable. When they introduced the concept of ring-signatures, this algorithm was able to cut the trails. The first time this cryptonite called the Bytecoin was implemented, it was rejected by everyone. It achieved great popularity in 2016 when some darknet markets accepted it as a currency but its price still remains very low. Many other currencies are a clone of the native Bitcoin code, but Monero uses CryptoNote protocol which is an evolution of ideas behind Bitcoin. The main difference is that it is very difficult to follow digital currencies that are based on CryptoNote protocol, and also the inner algorithms are different. 6. Ethereum Classic – It is just like Ethereum, but it is used only for smart contracts, it has applications that work just the way they are programmed. There is no room for any sort of delay, censure, fraud or involvement of the third party. This is just a sequel to the original Ethereum, in which there is history that didn’t change, there are no external interference and subjective changes that represent a consequence of the transactions. Its market value is €1,7 billion. 7. NEM – This is a Peer-to-Peer cryptocurrency and it has a blockchain platform that was started in 2015. It is a platform that entered some new functions in the blockchain technology. It has an algorithm of proof-of-importance, coded messages, and a different reputation system. Its value is almost €1,6 billion.
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  • Fall '18
  • Bitcoins, cryptocurrencies, ©Друштво економиста

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