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General Summary of Cryptography – What does each project mean?

General Summary of Cryptography – What is each project?

This article aims to show a brief definition of each cryptographic.
To search for the cryptocurrency you want to know, press Ctrl + F inside the post and enter your crypto.
Let’s start!

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Bitcoin (BTC) it is a digital form of money. However, unlike the fiat currencies you are used to, there is no central bank that controls it. Instead, Bitcoin’s financial system is run by a network of thousands of computers distributed around the world. Anyone can participate in the ecosystem by downloading open source software. Bitcoin was the first cryptocurrency, announced in 2008 (and launched in 2009). It provides users with the ability to send and receive digital money (bitcoins, with a lowercase b or BTC). What makes it so attractive is the fact that it cannot be censored, funds cannot be spent more than once and transactions can be made at any time, from anywhere.

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What is Ethereum ETHEthereum is a decentralized platform that runs smart contracts and decentralized applications using Blockchain technology. The applications work exactly as programmed without any possibility of censorship, fraud or interference from third parties, because the contract is immutable.
Ether (ETH) is a digital currency used within the Ethereum platform to run smart contracts, computer services within the network and to pay fees to miners.

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What is BNBBinance Coin (BNB) is an ERC-20 token (from the Ethereum network) used to earn discounts on operations at Exchange Binance, today the largest in the world in cryptography. There are other benefits to using the token within the Exchange such as use in means of payment, purchase of tokens launched in the Launchpad from Binance and will be used in the Decentralized Exchange of the same broker.

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What is XRP RippleFormerly known as OpenCoin, the Ripple is a private company that is building an exchange and payment network (RippleNet) based on a distributed accounting database (Ledger). Ripple’s main objective is to connect banks, payment providers and digital asset brokers, enabling faster and more economical global payments. XRP is Ripple’s standard cryptocurrency.

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What is ADA CardanoCardano (ADA) is a “third generation” blockchain that aims to solve the scalability problems inherent in the second generation blockchains (in this case, Ethereum). Cardano’s development is characterized by a scientific philosophy and a lot of academic research with a multidisciplinary team of engineers, mathematicians, scientists and business professionals. According to its creators, the main design principles behind the Cardano project are security, scalability and interoperability.

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What is USDT TetherO Tether (USDT) is one of the most popular stablecoins out there. It was designed to maintain a 1: 1 value ratio with the US dollar. The currency exists in many different blockchains and, in recent years, has shown increases in trading volumes and liquidity. USDT is useful for cryptocurrency trading, as it allows traders to avoid the volatility present in the BTC and other crypto markets. The use of stablecoins also removes extra costs and delays in the conversion (exchange) between cryptocurrencies and fiat currencies.

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What is DOT PolkadotO Polkadot (DOT) it is considered the next generation blockchain protocol, capable of connecting several specialized chains on a single universal network. With an emphasis on building an infrastructure for the Web 3.0 – and with the foundation of the Web3 Foundation – Polkadot aims to break Internet monopolies and empower individual users.

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What is LTC LitecoinLitecoin (LTC) is a cryptocurrency supported by a peer-to-peer network and a free software project launched under the MIT license. It is inspired and almost technically similar to Bitcoin. The creation and transfer of Litecoin is based on an open source encryption protocol and is not managed by a central authority. Litecoin can confirm transactions faster than Bitcoin thanks to its faster generation of blocks.

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What is Chainlink LINKChainlink is a decentralized network of oracles based on blockchain technology that allows smart contracts to connect to external data sources. This can include APIs, internal systems or other types of external data sources. LINK is an ERC-20 token used to pay for this oracle service on the network. Chainlink uses a network of nodes (nodes) to try to make the data provided for smart contracts as reliable and secure as possible. Due to an internal reputation system the Chainlink network can determine with relatively high accuracy which sources are reliable.

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What is Bitcoin Cash BCHBitcoin cash (BCH) is a new cryptocurrency generated by a Hard Fork process (separation) from the Bitcoin network. The main difference between BTC and BCH networks is the maximum block size allowed by each network (1 MB vs. 32 MB, respectively). A curious point is that the creator of Bitcoin Cash, Craig Wright, calls himself Satoshi Nakamoto himself.

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This post continues and will be updated frequently!

Suggestions for editing editions of each project are very welcome, put the suggestion that we are going to evaluate below in the comments.

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