It is different from Bitcoin in that there is a clear management entity called Ripple, and the processing of transaction data is managed by Ripple and a third-party institution. This is called the consensus algorithm, so-called consent method, and refers to a system that processes transaction data by a majority vote of approvers called validators Solanax swaping launch.
Bitcoin cash
Bitcoin Cash is a cryptocurrency that was created by splitting from Bitcoin in 2017. Regarding the problem of scalability and flexibility of the system or network for transaction data processing, which is considered to be a problem of Bitcoin, it is intended to solve the problem by increasing the processing power by expanding the block size of Bitcoin from 1MB to 8MB (big block). That’s Bitcoin Cash. Other than the big block, the basic parts are almost identical to Bitcoin. The monetary unit is expressed in BCH.
Ethereum Classic
Ethereum Classic is a cryptocurrency created by splitting from Ethereum in 2016. When a hard fork (meaning a change in specifications) occurs, compatibility with the existing one is lost and a new virtual currency is born. Bitcoin Cash and Litecoin, which were introduced separately, are in the same vein as the hard fork of Bitcoin was born. Since it is derived from Ethereum, the difference in basic specifications such as smart contracts is not large. The monetary unit is expressed in ETC.
Litecoin
Litecoin is a cryptocurrency developed in 2011 based on Bitcoin. Compared to Bitcoin’s issuance limit of 21 million, Litecoin’s issuance limit is set to quadruple to 84 million. In addition, the block generation time of Bitcoin is about 10 minutes, whereas Litecoin is adjusted to about 2.5 minutes. Contrary to Bitcoin Cash, a method of reducing the block size is applied to the problems of Bitcoin. It plays an auxiliary role in processing Bitcoin payments. The monetary unit is expressed in LTC. If you want to enjoy overseas legal online casinos using various virtual currencies, we recommend “Bitcasino,” the world’s first Bitcoin casino.
5 tips for choosing a cryptocurrency/cryptocurrency exchange
–Easy to use: For beginners, I think the most important thing is that it is easy to use. Please check whether it can be used with at least a smartphone.
-Diversity of cryptocurrencies handled: Although the most common bitcoin can be seen as being handled everywhere, it is necessary to check how much other altcoins are handled because there are different types of other cryptocurrencies.
–Fees and spreads: Spreads refer to the price difference between buying and selling cryptocurrencies, such as exchange rates. Even if the fee is free, you need to be careful because if the spread is wide, you may incur losses.