A brief history of all cryptos listed here.
amarcrypto last edited by amarcrypto
Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
In mid-2017, a group of developers wanting to increase bitcoin block size limit prepared a code change. The change, called a hard fork, took effect on 1 August 2017. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two. At the time of the fork anyone owning bitcoin was also in possession of the same number of Bitcoin Cash units.
Dash was launched in January 2014 by Evan Duffield. The original name was XCoin before rebranding as Darkcoin and then Dash in March 2015. It began as a fork of the Litecoin project, before rebasing to become a fork of Bitcoin in January 2015.
Decred is an open-source, blockchain-based cryptocurrency, similar to Bitcoin. Decred was launched in February 2016 by the bitcoin developers that engineered btcsuite, an alternative full-node Bitcoin implementation written in the Go (golang) programming language and used by development projects such as Ethereum, Factom, BitGo, OpenBazaar, and the Lightning Network.
Dogecoin is a cryptocurrency featuring a likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo. Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014.
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale. This accounts for about 13 percent of the total circulating supply.
In 2016, as a result of the collapse of The DAO project, Ethereum was split into two separate blockchains – the new separate version became Ethereum (ETH), and the original continued as Ethereum Classic (ETC). The value of the Ethereum currency grew over 13,000 percent in 2017.
Ethereum Classic came into existence when some members of the Ethereum community rejected the hard fork on the grounds of "immutability", the principle that the blockchain cannot be changed, and decided to keep using the unforked version of Ethereum.
Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.
Monero (XMR) is an open-source cryptocurrency created in April 2014 that focuses on fungibility and decentralization. Monero uses an obfuscated public ledger, meaning anybody can broadcast or send transactions, but no outside observer can tell the source, amount or destination. Monero uses a Proof of Work mechanism to issue new coins and incentivize miners to secure the network and validate transactions.
XRP Ledger is a real-time gross settlement system (RTGS), currency exchange and remittance network created by Ripple Labs Inc., a US based technology company. It is built upon a distributed open source internet protocol, consensus ledger and the decentralized native digital asset is known as XRP. Released in 2012, XRP Ledger purports to enable "secure, instantly and nearly free global financial transactions of any size with no chargebacks."
Tether is a controversial cryptocurrency token claimed by its creators to be backed by one dollar for each token issued, though Tether Limited has not issued a promised audit of their currency reserves. Subpoenas from the U.S. Commodity Futures Trading Commission were sent to Tether and a related firm, Bitfinex, on December 6, 2017. Tether's former auditor, Friedman LLP, has also been issued a subpoena. Research suggests that a price manipulation scheme involving tether accounted for about half of the price increase in bitcoin in late 2017.
Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. The Zerocoin protocol was improved and transformed into the Zerocash system, which was then developed into the Zcash cryptocurrency in 2016. Development of protocol improvements and the reference implementation is led by the Zerocoin Electric Coin Company, colloquially referred to as Zcash Company. The founder and CEO of Zcash Company is Zooko Wilcox-O'Hearn. Its founding team includes cryptographer Matthew D. Green from Johns Hopkins University. Roger Ver was one of Zcash Company's initial investors.
Which one is your favorite crypto among the list?