What are Cryptocurrencies?
The first cryptocurrency, started in 2009 was Bitcoin. A white paper detailing it’s design was posted online by an unknown developer named Satoshi Nakamoto.
Bitcoin uses proof of work to confirm transactions onto the blockchain. Miners run GPU and ASIC rigs in a race to add transactions to the chain. The blockchain is a digital ledger which holds all information regarding transactions of a currency.
Since 2009 thousands of different Altcoins (Alternative) have been released and many of these are now available to trade on exchange. Some use different protocols to blockchain and others use different verification systems to proof of work.
Today the cryptocurrency market cap is over £120 billion. Some of the larger coins on our watchlist are: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, IOTA, NEM, Dash, NEO, Monero, Qtum, TenX and BitShares.