Virtual Money Photo screenshot
Let's take a look at the three most popular currencies
Virtual currency or cryptocurrency is becoming popular amid the pandemic. One of the most surprising was when Tesla boss Elon Musk posted on Twitter wanting to shift his company's cash from US dollars to virtual money.
Instantly the price of Bitcoin immediately shot up to the highest in history. The Bitcoin price note passed USD 22,000 or IDR 308 million (USD exchange rate IDR 14,000) on Thursday (17/12). Bitcoin's increase so far this year passed 210 percent. At the beginning of the year, the Bitcoin price was at the Rp 99 million level.
Now virtual money is increasingly enriching investment instruments. Apart from Bitcoin, there are several other virtual currencies such as Ethereum and Stellar.
Come on, let's get to know each of these virtual currencies
Bitcoin
Bitcoin is a virtual currency, which can now be traded on the Indonesian commodity futures exchange, after the Commodity Futures Trading Supervisory Agency (Bappebti) issued Bappebti Regulation Number 5 of 2019 on February 8, 2019.
Bitcoin itself was created in 2009 by Satoshi Nakamoto. Bitcoin does not have official storage, like physical currency, in banks. The United States Treasury Department calls Bitcoin a decentralized currency.
Bitcoin Photo Screenshot
Unlike other currencies in general, Bitcoin does not depend on one major issuer. Uses a distributed database and spreads to the nodes of a P2P network to journal transactions.
Starting 2021, Bitcoin continues to show a strengthening trend. Referring to the Coin Market Cap, the Bitcoin price was recorded to have increased by 4.73 percent to the level of USD 38,863 per btc. This strengthening continued the positive trend of bitcoin throughout 2020 which strengthened by 275.17 percent.
Ethereum
Just like Bitcoin, Ethereum is a digital currency that is currently popular among the public. Ethereum is purely digital, and can be sent to anyone anywhere in the world instantly.
The supply of ETH is not controlled by any government or company - it is decentralized, with limited quantities. People around the world use ETH to make payments, as a store of value, or as collateral.
Ethereum Photo Screenshot
But unlike other Blockchains, Ethereum can do a lot more. Ethereum is programmable, meaning that any developer can use it to build new types of applications.
Crypto asset ether (ETH) continues to set new record highs, after successfully breaking the 2018 all time high (ATH).
From this, ETH has boosted the crypto asset market with its new highest achievement, namely USD 1,478 per ETH or around IDR 20.8 million.
Stellar
Stellar Lumens (XLM) has become one of the most popular digital assets. Crypto fans in Indonesia are no exception.
XLM is a native crypto that operates on Stellar software technology launched in 2014. The main vision of the Stellar platform is to become a cross-border or cross-border payment solution that eliminates middleman. This platform promises the ability to complete a very short transaction, which is only 5 seconds. This is faster than Etheruem which takes 3.5 minutes.
Stellar Photo Screenshot
Stellar's vision is more or less the same as Ripple (XRP). The similarities between the two are not without reason. The founder of Stellar, Jed McCaleb, was indeed involved as the co-founder of the Ripple project in 2012. Two years later, McCaleb left Ripple and founded Stellar. The reason is, he wants the blockchain project to be more helpful for people who are not reached by banking in developing countries.
The price of Stellar Lumens (XLM) crypto assets has skyrocketed in the past year. In total, the price growth exceeded 600 percent.
XLM is equivalent to IDR 4,179 per Wednesday (20/1/2021) at 14.22 WIB. It jumped 600 percent when compared to the same period last year, namely Rp. 625. According to the CEO of Indodax, Oscar Darmawan, the cause of the price hike was the increase in demand for XLM.
"Stellar's price increase occurred due to increased demand. Stellar is the choice for crypto asset activists who are constrained by Ethereum transfer fees. So, they prefer Stellar because its costs are cheaper," Oscar said, quoted from his official statement, Wednesday (20/1).
So, that's the information I quoted from google about the three most popular digital currencies today
Hope it is useful