What Type Of Money Is Cryptocurrency

What type of money is cryptocurrency

What type of money is cryptocurrency

List article detailing notable cryptocurrencies

The number of cryptocurrencies available over the internet as of 19 August 2018[update] is over 1600 and growing.[1] A new cryptocurrency can be created at any time.[2] By market capitalization, Bitcoin is currently (December 15, 2018) the largest blockchain network, followed by Ripple, Ethereum and Tether.[3]

As of 15 December 2018, total cryptocurrencies market capitalization is $100bn and larger than GDP of 127 countries.[citation needed]



Below are some notable cryptocurrencies:

Release Currency Symbol Founder(s) Hash algorithmProgramming language of implementation Cryptocurrency blockchain
(PoS, PoW, or other)
2009 BitcoinBTC,[4] XBT, Satoshi Nakamoto[nt 1]SHA-256d[5][6]C++[7]PoW[6][8]The first and most widely used decentralized ledger currency,[9] with the highest market capitalization.[10]
2011 LitecoinLTC, Ł Charlie Lee ScryptC++[11]PoWOne of the first cryptocurrencies to use Scrypt as a hashing algorithm.

2011 NamecoinNMC Vincent Durham[12][13]SHA-256d C++[14]PoWAlso acts as an alternative, decentralized DNS.
2012 PeercoinPPC Sunny King
(pseudonym)[citation needed]
SHA-256d[citation needed]C++[15]PoW & PoSThe first cryptocurrency to use POW and POS functions.

2013 DogecoinDOGE, XDG, Ð Jackson Palmer
& Billy Markus[16]
Scrypt[17]C++[18]PoWBased on the Doge internet meme.

2013[citation needed]GridcoinGRC Rob Hälford[citation needed]ScryptC++[19]Decentralized PoSLinked to citizen science through the Berkeley Open Infrastructure for Network Computing[20]
2013 PrimecoinXPM Sunny King
(pseudonym)[citation needed]
1CC/2CC/TWN[21]TypeScript, C++[22]PoW[21]Uses the finding of prime chains composed of Cunningham chains and bi-twin chains for proof-of-work.

2013 Ripple[23][24]XRP Chris Larsen &
Jed McCaleb[25]
ECDSA[26]C++[27]"Consensus" Designed for peer to peer debt transfer.

Not based on bitcoin.

2013 NxtNXT BCNext
SHA-256d[28]Java[29]PoSSpecifically designed as a flexible platform to build applications and financial services around its protocol.

2014 AuroracoinAUR Baldur Odinsson
ScryptC++[31]PoWCreated as an alternative currency for Iceland, intended to replace the Icelandic króna.

2014 DashDASH Evan Duffield &
Kyle Hagan[32]
X11C++[33]PoW & Proof of Service[nt 2]A bitcoin-based currency featuring instant transactions, decentralized governance and budgeting, and private transactions.

2014 NEONEO Da Hongfei & Erik Zhang SHA-256 & RIPEMD160C#[34]dBFTChina based cryptocurrency, formerly ANT Shares and ANT Coins. The names were changed in 2017 to NEO and GAS.

Put it on the blockchain

2014 MazaCoinMZC BTC Oyate Initiative SHA-256d C++[35]PoWThe underlying software is derived from that of another cryptocurrency, ZetaCoin.

2014 MoneroXMR Monero Core Team CryptoNight[36]C++[37]PoWPrivacy-centric coin using the CryptoNote protocol with improvements for scalability and decentralization.

2014 NEMXEM UtopianFuture (pseudonym) SHA3-512Java[38]POI The first hybrid public/private blockchain solution built from scratch, and first to use the Proof of Importance algorithm using EigenTrust++ reputation system.
2014 PotCoinPOT Potcoin core dev team ScryptC++[39]PoSDeveloped to service the legalized cannabis industry in the United States.

2014 TitcoinTIT Edward Mansfield & Richard Allen[40]SHA-256d TypeScript, C++[41]PoWThe first cryptocurrency to be nominated for a major adult industry award.[42]
2014 VergeXVG Sunerok Scrypt, x17, groestl, blake2s, and lyra2rev2 C, C++[43]PoWFeatures anonymous transactions using Tor.

2014 StellarXLM Jed McCalebStellar Consensus Protocol (SCP) [44]C, C++[45]Stellar Consensus Protocol (SCP) [44]Open-source, decentralized global financial network.

What type of money is cryptocurrency

2014 VertcoinVTC Bushido Lyra2RE[46]C++[47]PoWAims to be ASIC resistant.
2015 Ether or "Ethereum" ETH Vitalik Buterin[48]Ethash[49]C++, Go[50]PoWSupports Turing-complete smart contracts.

2015 Ethereum ClassicETC Ethash[49]PoWAn alternative version of Ethereum[51] whose blockchain does not include the DAO Hard-fork.[52] Supports Turing-complete smart contracts.
2015 TetherUSDT Jan Ludovicus van der Velde[53]Omnicore[54]PoWTether claims to be backed by USD at a 1 to 1 ratio.

The company has been unable to produce promised audits.[55]

2016 ZcashZEC Zooko WilcoxEquihashC++[56]PoWThe first open, permissionless financial system employing zero-knowledge security.

2017 Bitcoin CashBCH[57]SHA-256d PoWHard fork from Bitcoin, Increased Block size from 1mb to 8mb
2017 EOS.IOEOS Dan LarimerWebAssembly, Rust, C, C++[58]delegated PoSFeeless Smart contract platform for decentralized applications and decentralized autonomous corporations with a block time of 500 ms.[58]



  1. ^It is not known whether the name "Satoshi Nakamoto" is real or a pseudonym, nor whether it represents one person or a group.
  2. ^Via Masternodes containing 1000 DASH held as collateral for "Proof of Service".

    Through an automated voting mechanism, one Masternode is selected per block and receives 45% of mining rewards.

See also


  1. ^"All Cryptocurrencies | Coinlore". coinlore.com. Retrieved August 19, 2018.
  2. ^Cryptocurrencies: A Brief Thematic Review. Economics of Networks Journal. Social Science Research Network (SSRN).

    Date accessed August 28, 2017.

  3. ^"All Currencies | CryptoCurrency Market Capitalizations". Coinmarketcap.com. Retrieved December 31, 2017.
  4. ^Dixon, Lance (December 24, 2013). "Building Bitcoin use in South Florida and beyond".

    Miami Herald. Retrieved January 24, 2014.

  5. ^Taylor, Michael Bedford (2013). "Bitcoin and the age of bespoke silicon"(PDF). Proceedings of the 2013 International Conference on Compilers, Architectures and Synthesis for Embedded Systems.

    Piscataway, NJ: IEEE Press. ISBN .

    13 types of cryptocurrency that aren’t bitcoin

    Retrieved January 14, 2014.

  6. ^ abSteadman, Ian (May 7, 2013). "Wary of Bitcoin? A guide to some other crypto currencies".

    Wired UK. Condé Nast UK.

  7. ^"Bitcoin on GitHub".
  8. ^Hobson, Dominic (2013). "What is Bitcoin?". XRDS: Crossroads, The ACM Magazine for Students. 20 (1). Association for Computing Machinery. pp. 40–44. doi:10.1145/2510124. ISSN 1528-4972.
  9. ^Reynard, Cherry (May 25, 2018).

    "What are the top 10 cryptocurrencies?".

    The new internet cryptocurrency

    The Telegraph. Retrieved October 15, 2018.

  10. ^Kharpal, Arjun (February 6, 2018). "Over $550 billion of value wiped off cryptocurrencies since their record high just under a month ago".

    What Is Cryptocurrency?

    CNBC. Retrieved October 15, 2018.

  11. ^"Litecoin on GitHub".
  12. ^"vinced/namecoin: Vince's tree – see namecoin/namecoin for main integration tree".

    A brief history of money - From gold to bitcoin and cryptocurrencies

    GitHub. Retrieved July 24, 2017.

  13. ^Keller, Levin (March 19, 2011). "Namecoin – a distributed name system based on Bitcoin". Prezi.
  14. ^"Namecoin on GitHub".

    Retrieved February 4, 2018.

  15. ^"Peercoin on GitHub".
  16. ^A History of Dogecoin. Dogecoin Analysis Report. Social Science Research Network (SSRN).

    Accessed December 28, 2017.

  17. ^"Intro – Dogecoin # Technical specifications". Dogeco.in. Retrieved December 14, 2013.
  18. ^"Dog E Coin on GitHub".
  19. ^"GridCoin on GitHub".
  20. ^Halford, Rob.


    "Gridcoin: Crypto-Currency using Berkeley Open Infrastructure Network Computing Grid as a Proof Of Work"(PDF). Retrieved April 11, 2016.

  21. ^ ab"FAQ · primecoin/primecoin Wiki · GitHub". Retrieved January 20, 2014.
  22. ^"Primecoin on GitHub".
  23. ^Chayka, Kyle (July 2, 2013).

    "What Comes After Bitcoin?". Pacific Standard.

    What type of money is cryptocurrency

    Retrieved January 18, 2014.

  24. ^Vega, Danny (December 4, 2013). "Ripple's Big Move: Mining Crypto currency with a Purpose". Seattlepi.com.

    Welcome to Blockgeeks

    Hearst Seattle Media, LLC, a division of The Hearst Corporation.

  25. ^Simonite, Tom (April 11, 2013). "Big-name investors back effort to build a better Bitcoin". MIT Technology Review. Retrieved January 14, 2014.
  26. ^"How it works – Ripple Wiki". Retrieved January 20, 2014.
  27. ^"Rippled on GitHub".
  28. ^"NXT Whitepaper".

    NxtWiki – Whitepaper. Archived from the original on February 3, 2015. Retrieved December 21, 2014.

  29. ^"NXT on Bitbucket".
  30. ^Casey, Michael J.

    (March 5, 2014). "Auroracoin already third-biggest cryptocoin–and it's not even out yet". The Wall Street Journal.

  31. ^"Auroracoin on GitHub".
  32. ^Scharr, Jill (May 28, 2014). "What is Dash?

    What type of money is cryptocurrency

    An FAQ". Tom's Guide.

  33. ^"Dash on GitHub".
  34. ^"NEO on GitHub".
  35. ^"MazaCoin on GitHub".
  36. ^"CryptoNight – Bitcoin Wiki". En.bitcoin.it. June 19, 2014. Retrieved July 24, 2017.
  37. ^"Monero on GitHub".
  38. ^"NEM on GitHub".
  39. ^"PotCoin on GitHub".
  40. ^Mercier Voyer, Stephanie.

    "Titcoin Is a Brand New Cryptocurrency for Porn Purchases". Vice Magazine. Retrieved June 18, 2014.

  41. ^"Titcoin on GitHub".
  42. ^"Titcoin Receives Two Web & Tech XBIZ Nominations". Payout Magazine. Retrieved November 18, 2014.
  43. ^"Verge on GitHub".
  44. ^ ab"Stellar.org White Papers"(PDF).

    Best options found magical secrets 5e


  45. ^"Stellar on GitHub".
  46. ^"Lyra2RE – A new PoW algorithm for an ASIC-free future"(PDF).

    November 29, 2014.

  47. ^"Vertcoin on GitHub".
  48. ^"Out in the Open: Teenage Hacker Transforms Web Into One Giant Bitcoin Network". Wired.com. Retrieved July 24, 2017.
  49. ^ ab"Ethash". Github.com. Retrieved July 24, 2017.
  50. ^"Ethereum on GitHub".
  51. ^"README/README.md at master".


    The rise of the altcoins

    Retrieved July 24, 2017.

  52. ^Adinolfi, Joseph. "Exclusive: Grayscale launches digital-currency fund backed by Silver Lake's co-founder Hutchins". MarketWatch. Retrieved April 27, 2017.
  53. ^"Mystery Shrouds Tether". Bloomberg. Retrieved December 27, 2017.
  54. ^""Tether White Paper""(PDF). Tether. Retrieved December 27, 2017.
  55. ^Leising, Matthew (June 20, 2018).

    "Tether Hired Former FBI Director's Law Firm to Vet Finances". Bloomberg. Retrieved June 25, 2018.

  56. ^"Zcash on GitHub".
  57. ^"Bitcoin Cash Markets and Dillema". CryptoCoinCharts. Retrieved September 14, 2017.
  58. ^ ab"Documentation: EOS.IO Documents".

    What type of money is cryptocurrency

    February 10, 2018 – via GitHub.

  59. ^Ray, Tiernan (January 9, 2018). "Kodak CEO: Blockchain Significant, Though Not a Doubling in Stock Price".

    Barrons. Retrieved January 11, 2018.

  60. ^"Onix's white paper"(PDF). www.onixcoin.com. January 13, 2018. Retrieved January 13, 2018.
  61. ^"OnixCoin on GitHub".
  62. ^Ellsworth, Brian (August 30, 2018). "Special Report: In Venezuela, new cryptocurrency is nowhere to be found". Reuters.

    What type of money is cryptocurrency

    Retrieved August 30, 2018.

Market capitalizations of cryptocurrencies as of January 27, 2018

All cryptocurrencies by sectors infographics