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What Is Cryptocurrency (or Crypto Currency)

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What Is Cryptocurrency (or Crypto Currency)

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.

Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created.These are frequently called altcoins, as a blend of bitcoin alternative. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money/centralized banking systems.The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger.

List Of Cryptocurrencies

ReleaseStatusCurrencySymbolFounderHash algorithmTimestampingNotes
2009ActiveBitcoinBTC,[4][5]XBTSatoshi Nakamoto[nt 1]SHA-256d[6][7]POW[7][8]First decentralized ledger currency.
2011ActiveLitecoinLTCCharles LeeScryptPOWFirst cryptocurrency to use Scrypt as a hashing algorithm.
2011ActiveNamecoinNMCVincent Durham[29][30]SHA-256dPOWAlso acts as an alternative, decentralized DNS.
2012[7]ActivePeercoinPPCSunny King
SHA-256d[33]POW & POSFirst to use POW and POS functions.
2013ActiveDogecoinDOGE, XDGJackson Palmer
& Billy Markus[11]
Scrypt[12]POWBased on an internet meme.
2013[21][22]ActiveGridcoinGRCRob Hälford [23]ScryptDecentralized Proof-of-stakePOSFirst cryptocurrency linked to citizen science through the Berkeley Open Infrastructure for Network Computing[24][25]
2013ActiveMastercoinMSCJ. R. Willett [26]SHA-256d[27]N/AMastercoin is both digital currency and communications protocol built on top of the existing bitcoin block chain.
2013[34]ActiveEmercoinEMCEvgenijM86 & Yitshak DorfmanSHA-256POW & POSTrusted storage for any small data: acts as an alternative, decentralized DNS, PKI store, SSL infrastructure and other.
2013ActivePrimecoinXPMSunny King
1CC/2CC/TWN[35]POW[35]Primecoin uses the finding of prime chains composed of Cunningham chains and bi-twin chains for proof-of-work, which can lead to useful byproducts.
2013ActiveRipple[36][37][38]XRP[38]Chris Larsen &
Jed McCaleb[39]
ECDSA[40]"Consensus"Based on peer to peer debt transfer. The term Ripple can refer to both the digital currency or the payment network.
2014ActiveAuroracoinAURBaldur Odinsson
ScryptProof-of-work (POW)Created as an alternative to fiat currency in Iceland.
2014ActiveBlackCoinBC, BLKRat4 (pseudonym)ScryptProof-of-stake(POS)BlackCoin secures its network through a process called minting.
2014InactiveCoinyeKOI, COYEScryptPOWUsed American hip hop artist Kanye West as its mascot, abandoned after trademark lawsuit.
2014[9]ActiveDashDASHEvan Duffield &
Kyle Hagan[10]
X11POW & POS[nt 2]Adds privacy to transactions through a decentralized coin-mixing system called Darksend.
2014ActiveDigitalNoteXDNXDN-dev team, dNote[13]CryptoNight[14]POWDigitalNote (XDN) is a new private cryptocurrency with an instant untraceable crypto messages and first blockchain banking implementation, use CryptoNote protocol.
2014ActiveGulden[17]NLGRijk Plasman[18][19][20]ScryptProof-of-work_system(POW)Previous Name: GULDENCOIN, in 2015 the names changed into: GULDEN.
2014ActiveMazaCoinMZCBTC Oyate InitiativeSHA-256dPOWThe underlying software for MazaCoin is derived from that of another cryptocurrency, ZetaCoin.
2014ActiveMoneroXMRMonero Core Team[28]CryptoNight[14]POWMonero (XMR) is a new privacy-centric coin using the CryptoNote protocol. Monero focuses on the use on Darknet Market.
SHA-256d[31]POSNxt is specifically designed as a flexible platform to build applications and financial services around its protocol.
2014ActivePotCoinPOTScryptPOWDeveloped to service the legalized cannabis industry
2014ActiveTitcoinTITEdward Mansfield & Richard Allen[41]SHA-256dPOWFirst cryptocurrency to be nominated for a major adult industry award.[42]
2014ActiveSynereo AMPAMPDor Konforty & Greg Meredith[43]Proof-of-stake(POS)POSTrying to create a world computer, Synereo’s 2.0 tech stack, that incorporates all faculties needed to support decentralized computation without central servers.[44]
2015ActiveDecredDCRBlake-256POW & POSCreated by Bitcoin developers.
2015ActiveEthereumETHVitalik Buterin[15]Dagger Hashimoto[16]POWTuring complete smart contracts.
2016ActiveZcashZECZooko WilcoxEquihashProof-of-work (POW)Zcash is the first open, permissionless financial system employing zero-knowledge security.

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