What are the different types of cryptocurrencies?
People who do not know much about cryptocurrency might just think that it means Bitcoin, and if they have heard of others like Ethereum they will try to compare them as if they were similar.
Now if you are here, then you probably know a little bit if not a lot about cryptocurrency, but for those that may not know much..
Here are the different types of cryptos!
Smart Contracts/Decentralized Apps (dapps)
A smart contract is basically what is sounds like.. A contract that is smart!
You can program contracts for basically anything from renting a car to selling the deed of a house!
These would include cryptos like:
- EOS
- Ethereum
- Lisk
- UBIQ
- Shift
These are just the most popular ones, but Dan even stated in a post once that STEEM has smart contract capabilities.
Steem can be used as a powerful smart contract platform, the possibilities are endless.
https://steemit.com/lisk/@dan/why-lisk-is-inferior-to-ethereum
Anonymous Coins
These types of cryptocurrencies are for private transactions, which could be used by companies that may not want their competitors seeing when they buy or who they buy from.. or even how much they paid!
Also some people just like their privacy and don't want their personal spending habits stamped on the public blockchain that will never be removed.
These would include cryptos like:
- Zcash
- Dash
- Monero
- CloakCoin
- Bytecoin
- Verge
- Zcoin
- ZenCash
- Hush
- Kurrent
And I could go on, but these are the ones that I can think of.
Game Coins
These are coins that would be used in game play, whether it is poker or even games like WOW.
These include:
- GameCredits
- Peerplays
- Bitcrystals
- FirstBlood
And I'm sure there will be a ton come online soon if not already!
Bank Coins
These are cryptos that are working with banks to make cheaper faster transactions.
These include:
- Ripple
- Stellar Lumens
I know there are others, but these are the most popular!
Cloud Storage/CPU
These would be cryptos that allow anyone in the world to use their computer devices for their hard drive storage or cpu power via the cloud.
These would include:
- Golem
- Siacoin
- Storj
Peer to Peer Coins
These types are just the cryptos on public blockchains where you make simple peer to peer payment, and I will even include ones that you can tip.
These include a lot but here are some examples.
- Bitcoin
- Litecoin
- Reddcoin
- Dogecoin
Conclusion
Now there are others that I have not listed here like Augur for prediction markets, and Digix for "blockchain gold" and even Decred for blockchain governance!
But these are the main different types, and if you can think of more please comment them below.
Thanks for taking the time to check this out!
Disclaimer: I am not an Investment Advisor, and this is not investment advice. This for entertainment purposes only!
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