What are Digital Assets or Cryptocurrencies?
About cryptocurrencies
Intelex
Last Update 3 years ago
Cryptocurrency is a kind of digital currency, the accounting of internal accounting units of which is provided by a decentralized payment system (there is no central bank or any control center), operating in a fully automatic mode. The community considers cryptocurrencies to be the money of the free economy, since all network participants make decisions on payment.
A bit of history:
On January 03, 2009, the developers released the first 50 Bitcoin coins (BTC is a short name) - Bitcoin
The value of the currency from 2009 to the present day has grown by 5,498,101,845.79% over 12 years of existence, the main growth fell on 2017-2021 years.
In 2020, Bitcoin holders earned, according to various estimates, 341.6% without any action.
There are also alternative currencies (altcoins) on the market, such as:
Ethereum (ETH - short name) - was launched by the developer Vitaly Buterin. It is the second largest cryptocurrency with a market cap of USD 148,866,196,226. The difference from bitcoin is that many applications and business processes of companies from the real economy sector are built on the basis of the Ethereum network, and they pay the costs of this network in Ethereum
Binance Coin (BNB is short name) is the coin of the largest cryptocurrency exchange of the same name, binance. created to pay commissions and exchange services. Market capitalization USD 6,409,895,906.
Tether (USDT - short name) is a stablecoin analogue of the US dollar on cryptocurrency exchanges, which means 1 USDT = 1 USD. Created for the convenience of quoting Bitcoin and other currencies to the familiar world of the US Dollar. Market capitalization USD 24,842,821,431.
Market capitalization is 1 trillion USD, the market is young and therefore promising in the long term. This year, the central banks of large countries began issuing their cryptocurrencies. This means that soon you will see them in your banking applications and will be able to purchase goods and services on them.