Welcome to Tectonic Crypto News, your go-to source for the latest news and information on the world of cryptocurrencies. We’ll be covering all the tectonic shifts in the crypto world today, so stay tuned!
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Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain
Ethereum’s Byzantium hard fork was successfully activated yesterday, resulting in a number of changes to the network. The most significant change is the new “Ethereum Virtual Machine” which will make the network more scalable and efficient. Other changes include new smart contract opcodes, privacy enhancements, and changes to the way blocks are mined. The fork was highly anticipated and experts believe it will help Ethereum reach its full potential.
As a result of the fork, Ethereum’s blockchain has officially split in two. The original chain, which is no longer being upgraded or maintained, is now called “Ethereum Classic”. Ethereum Classic is identical to Ethereum except for the fact that it does not include the Byzantium upgrade. Some users believe that this upgrade was unnecessary and that it goes against the principle of immutability that is central to blockchains. However, the majority of users have decided to stay on the new chain, which is now simply called “Ethereum”.
The hard fork has been widely seen as a success and has caused Ether prices to surge to new all-time highs. However, it remains to be seen whether or not Ethereum will be able to scale enough to become a truly mainstream platform.
Litecoin is a cryptocurrency that uses a faster processing speed to confirm transactions and generate new blocks on its blockchain. Litecoin was created in 2011 as an alternative to Bitcoin. Charlie Lee, a former Google employee, is the creator of Litecoin.
Litecoin is often referred to as “the silver to Bitcoin’s gold.” This is because Litecoin has many of the same features as Bitcoin but with a faster processing speed. Like Bitcoin, Litecoin is decentralized, meaning it is not controlled by any central authority. However, unlike Bitcoin, Litecoin can be mined with consumer-grade hardware.
Litecoin has a maximum supply of 84 million coins – four times as many as Bitcoin. Because there are more Litecoins in circulation, each coin is worth less than a Bitcoin. However, both Bitcoin and Litecoin are divisible into smaller units, so even if one whole coin is too expensive for you, you can still purchase a smaller amount.
Litecoin is often used for smaller transactions or as a way to purchase other cryptocurrencies like Bitcoin. It is also popular among cryptocurrency traders because it is seen as a stable coin with potential for growth.
Bitcoin Cash is a cryptocurrency. In mid-2017, a group of developers wanting to increase bitcoin block size limit prepared a code change. Bitcoin cash is the result of this fork. It’s similar to bitcoin with a few key differences. Those include 8 MB block sizes, as opposed to Bitcoin’s current 1 MB. This allows for more transactions per second.
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 called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.” It supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes.
Cryptocurrency News for Today – Stellar
The Stellar network is a distributed blockchain protocol that connects banks, payments systems, and people. Stellar makes it possible to send money across borders quickly, reliably, and for fractions of a penny by connecting to a network of financial institutions and integrating into existing payment infrastructure.
Transactions on the Stellar network settle in 2-5 seconds, and can be processed for free or for a very small fee. The native asset of the Stellar network is called Lumens (XLM).
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network.
NEO was founded in 2014 and was open sourced on GitHub in June 2015. Its MainNet was launched on October 16, 2016, and has been running stably ever since. Its vision of the “smart economy” is supported by its native digital asset – NEO.
NEO has two native tokens, NEO (abbreviated as NEO) and NeoGas (abbreviated as GAS).
EOS is a decentralized cryptocurrency that enables fast, free and scalable blockchain applications. EOS is an ambitious project that aims to create a blockchain platform that can process millions of transactions per second and be scalable to meet the needs of large-scale applications.
Cardano is a cryptocurrency platform that is based on a proof-of-stake algorithm. It was founded in 2017 by Charles Hoskinson, who is also one of the co-founders of Ethereum. Cardano is designed to be a more scalable and flexible platform than Ethereum. It is also intended to be more resistant to forks, meaning that it can more easily upgrade its software without the risk of splitting the network. Cardano is still in development, but it has already launched its mainnet and is working on several applications, including a smart contract platform, a payment system, and a system for identity management.
IOTA is a revolutionary new transactional settlement and data transfer layer for the Internet of Things. It’s based on a new distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. For the first time ever, through IOTA people can transfer money without any fees. This means that even infinitesimally small nanotransactions are possible without incurring any costs.
IOTA is an open-source project founded by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Serguei Popov in 2015. The project is still in an early stage of development with a number of key features yet to be implemented.