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Bitcoin Legalization in El Salvador
The President of El Salvador, Nayib Bukele, has announced that his country will be the first in the world to legalize bitcoin. Bukele made the announcement at the Bitcoin 2021 Conference in Miami. He said that bitcoin will be recognized as legal tender alongside the US dollar, and that all citizens will be able to use it for any type of transaction.
Bukele also said that the government will create a special economic zone for cryptocurrency businesses, and that it will invest in a new bitcoin mining center. The center will be powered by geothermal energy, which is plentiful in El Salvador.
This is big news for the cryptocurrency world, as it could set a precedent for other countries to follow suit. It also shows that bitcoin is gaining mainstream acceptance as a viable currency.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
In Ethereum, all transactions are public and recorded on a shared public ledger, called a blockchain. This allows developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middleman or counterparty risk.
The project was bootstrapped via an ether presale in August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss non-profit, with contributions from great minds across the globe.
Litecoin is a cryptocurrency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With significant industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a peer-to-peer electronic cash system that aims to be fully decentralized, with no central authority. It was created by a group of people who disagreed with the way that Bitcoin was being developed and wanted to have a different vision for the future of cryptocurrency. Bitcoin Cash has been very controversial since its launch, but it has become one of the most popular cryptocurrencies in the world.
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency abbreviated as XRP (ripples). Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.” Using a common ledger that is managed by a network of independently validating servers that constantly compare transaction records, Ripple doesn’t rely on the energy and computing intensive proof-of-work used by Bitcoin. By design, there can be only a total of 100 billion XRP ever created.
Stellar is a distributed, hybrid blockchain platform that connects banks, payments systems, and people. Use Stellar to build your own decentralized payment infrastructure, or use our distributed exchange to trade assets of any kind.
banks and anchor institutions can custody their own cryptoassets on Stellar and transact with other counter-parties in XLM or other assets directly, without the need for a middleman.
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolved out of a scientific philosophy and a research-first driven approach. The development team consists of a global collective of expert engineers and researchers. The protocol upgrade timeline is called epochs. There are five epochs in Cardano’s roadmap. Byron, Shelley, Goguen, Basho, Voltaire. Byron was the initial release of the mainnet in September 2017. Shelley will emphasize decentralization, stake pool delegation, and rewards for network participants
EOS is a new blockchain platform that has been making waves in the crypto community. There are many things that make EOS unique, but one of the most exciting things about it is its potential to scale.
Scalability has been a big problem for blockchains like Bitcoin and Ethereum. EOS aims to solve this problem by using a delegated proof of stake (DPoS) consensus model. This model allows EOS to process thousands of transactions per second without sacrificing decentralization.
The EOS team has also built some unique features into their platform, such as eosio.token – a smart contract that makes it easy to create new tokens on the EOS blockchain.
All of these factors make EOS an exciting project to watch in 2019.
TRON is a blockchain platform for smart contracts and decentralized applications. TRX is the native token of the TRON network. Justin Sun, the current CEO of TRON, is also the founder of Peiwo, a Chinese social app with 10 million active users. TRON Foundation was established in 2017 in Singapore. The team behind TRON includes experienced developers from major tech companies such as Alibaba, Tencent, and Baidu.
NEO is a China-based blockchain platform that supports digital assets and smart contracts. It was founded in 2014 and open-sourced on GitHub in June 2015. The NEO team is led by CEO Da Hongfei and CTO Erik Zhang.
NEO uses a unique consensus mechanism called dBFT (delegated byzantine fault tolerance), which is more energy efficient than proof of work (PoW) or proof of stake (PoS).
In September 2017, NEO held an ICO to fund the development of the platform, which raised over $30 million.
NEO has been nicknamed the “Ethereum of China” due to its similarity to Ethereum in terms of features and philosophy. However, there are some key differences between the two platforms.
For one, NEO uses a different consensus mechanism than Ethereum. dBFT is more energy efficient than PoW or PoS, which means that it requires less computing power to run a NEO node. This also makes NEO more scalable than Ethereum.
Another difference is that NEO supports multiple programming languages, whereas Ethereum only supports Solidity. This means that NEO is more accessible to developers who are not familiar with Solidity.