What Crypto Is Best? – Part 2
By Luke Flowers – Cryptocurrency Broker
Currency has evolved from physical currency, metal currency, paper money and electronic money. Now we have an extensive range of altcoins to buy and sell cryptocurrency. We look at some other popular coins, their design and functionality:
It was started by the miners and developers of Bitcoin who had concerns over its scalability and future. With the initiation of the ‘hardfork’, as it is known in blockchain technology, it made a change to the protocol to make unconfirmed blocks/transactions valid. This created the new currency: Bitcoin Cash.
Bitcoin Cash increased its block size from 1MB to 8MB allowing larger blocks to transact more quickly with lower fees. The downside means it is more memory intensive and even though it has more capacity in the short term, the original Bitcoin is likely to have more capacity in the long term with its scaling solutions. You can buy Bitcoin Cash here at our platform.
This altcoin is in partnership with IBM and offers a network to connect banks, payment systems and people all over the world. Its goal is to achieve fast, cheap and reliable cross-border payments. Lumens (XLM) is the unit of currency that is exchanged between fiat currencies.
Unlike some other digital currencies, it has an unlimited supply. If coins can be created easily, there’s concerns of potentially flooding the market to force the price of the coin down and it could end up becoming worthless. We have Stellar available at BC Bitcoin for you to buy as the UK’s most trusted Bitcoin broker.
EOSIO labels itself as the most powerful infrastructure for decentralised applications. Even though it was launched in June 2017, 2018 has seen a big climb in people’s incentive to buy EOS. It is similar to the Ethereum networks function and EOS supporters have called it the ‘Ethereum killer’.
It implements a consensus over events and puts a focus on the transactions as opposed to the state. This means the system can take longer to completely reconfirm the transaction history when it restarts but can manage a higher quantity of possibly one million transactions per second through Distributed Proof of Stake. This level of scalability could be an indication for a bitcoin investment for 2019.