It is said that old habits are hard to break. Many of us are so used to the concept of carrying cold hard cash in our wallets, handbags and pockets that the concept of cryptocurrencies takes a while to fathom. For the proverbial newbie, it takes a while to grasp blockchain technology and cryptography. Then comes the task of blending the two concepts to create our favorite coins of Bitcoin (BTC), Ethereum (ETH), XRP and more.
So let us explore how our favorite cryptocurrencies would look like if they were cold hard cash.
1. Bitcoin (BTC)
Created in 2009 by the anonymous Satoshi Nakamoto, many of us did not get to consider Bitcoin (BTC) as an investment option up until mid last year when mainstream media was all over the place talking about it. To note is the golden color scheme of the note that correlates to how BTC is viewed as the digital gold of our times.
2. Ethereum (ETH)
Founded by Vitalik Buterin in 2015, the Ethereum (ETH) coin and platform has introduced us to Decentralized Applications and ICOs that have been made possible through the smart contract capability of the network. The name Ethereum was derived from the word ‘ether’ which refers to the hypothetical invisible medium that permeates the universe and allows light to travel.
3. XRP (XRP)
XRP was introduced to the cryptoverse in 2012 by Chris Larsen and Jed McCaleb. The digital asset was once referred to as Ripple due to the fact that it was created to power the Ripple ledger. But due to 3 pending lawsuits and SEC scrutiny, the Ripple company has decided to clarify that the two entities are entirely different. This design of its paper currency could then be a collectors edition.
4. Litecoin (LTC)
Sometimes referred to as ‘the little brother’ of Bitcoin, Litecoin (LTC) was created by Charlie Lee in 2011 to be a lighter and more efficient version of the King of Crypto. LTC is intended for smaller payments and faster transactions. The Litecoin Foundation has recently acquired a stake at Germany’s WEB Bank further pushing the possibility of LTC supported debit cards.
5. IOTA (MIOTA)
The IOTA Tangle plans on revolutionizing the Internet of Things as well as transactions on the blockchain since it has zero fees. IOTA was founded in 2015 by David Sonstebo, Sergey Ivancheglo, Dominik Schiener and Dr. Serguei Popov for the sole purpose of making IOTA the currency for the Internet of things.
6. Monero (XMR)
Founded in 2014 by a programmer with the online name of thankful_for_today – best known by the pseudonym Nicolas Van Saberhagen – Monero (XMR) has become the fan favorite for crypto-enthusiasts who value anonymity. It uses what is known as ring signatures to keep sender and recipient identities anonymous during a transaction. It has received some flack from governments who accuse it of being used for criminal activities. But privacy is a right in the many constitutions around the world.
7. Dash (DASH)
Dash is short for Digital Cash. The digital asset has faster transaction speeds and anonymity. It was created in 2014 by Evan Duffield.
8. Dogecoin (DOGE)
Dogecoin (DOGE) started off as ‘an internet joke’ and has gained mainstream popularity and acceptance. The coin has its roots in the ‘Doge’ Internet meme and has the Shiba Inu breed of dog as its mascot. Developed in 2013 by programmer Billy Markus and marketer Jackson Palmer, DOGE has appealed to a lot of crypto-enthusiasts and is primarily used for tipping on the internet.
9. Stellar (XLM)
Developed in 2014 by Jed McCaleb and Joyce Kim, the Stellar foundation is run as a non-profit and aims at connecting banks, payment systems and people in a manner that accelerates the movement of money in a fast, reliable and cheap manner. One of its chief goals is to fight poverty and develop individual potential around the world.
10. ZCash (ZEC)
Zcash was created in 2016 and is also known for its privacy characteristic. Users have two choices when making transactions: to use the public blockchain or to make the transaction anonymous. ZCash has been popularized by Edward Snowden who admitted to being a user as well as the Winklevoss Twins who added ZEC to their Gemini exchange.
In conclusion, it is good to muse about the possibilities of our favorite digital assets being cold hard cash. The designs featured herein are a tip of the iceberg for the crypto-community is bound to come up with more wonderful designs that would probably undergo a voting process before any minting. This is due to the decentralized nature of the crypto-verse.
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available
[All images courtesy of neomam.com]
The post Here Is How Bitcoin (BTC), ETH, XRP, LTC and more Would Look Like If They Were Cold Hard Cash appeared first on Ethereum World News.