The Big Three in Crypto: Bitcoin, Ripple and Ethereum

https://commons.wikimedia.org/wiki/File:Cryptocurrency_logos.jpg 

In the beginning, there was Bitcoin, then came Ripple, and then Ethereum. Along the way, many others came and went as cryptocurrency and blockchain protocols moved from the fringe to the mainstream, but these are still arguably the top three.

Cryptocurrency shares the fundamental definition of all forms of money: it is a medium of exchange, a measure of value, and a store of value. What sets it apart from fiat currency, though, is the following:

1. It has no physical form and exists solely as a digital bit of data.

2. It is not issued by a government entity.

3. It is completely decentralized and clears transactions through network consensus rather than through the authorization of a central bank.

4. Transactions cannot be reversed or charged back as is the case for those cleared by banks.

Beginning with Bitcoin

Though there had been some plans for a system of digital currency set out in the late 20th century, for the early part of the 21st century, the Bitcoin system and its currency unit, bitcoin or BTC was synonymous with cryptocurrency.

In October 2008, the name Satoshi Nakamoto appeared on the paper, Bitcoin: A Peer-to-Peer Electronic Cash System, which explained how the setup of blockchain technology was used in the cryptocurrency.

A blockchain is a decentralized ledger that allows a peer-to-peer network to obtain confirmation of transactions without waiting on a central clearing authority.

Read more in  The Differences Between the Top 3 Cryptocurrencies

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If you're wondering about Bitcoin

https://upload.wikimedia.org/wikipedia/commons/thumb/c/c5/Bitcoin_logo.svg/1024px-Bitcoin_logo.svg.png

I've written quite a number of articles about the potential of digital currency, most of them for CoinDesk, but also for CFO. EETimes, and  EBN.

Find out why alpacas became an official mascot for Bitcoin and how the the “Casascius” got its name. You can even learn about the history of currency in real life and why metal and paper currency isn't practical on the final frontier.

The URL,which was first put up very long form was changed on my article. Here's the new one: http://ww2.cfo.com/it-value/2013/09/is-digital-currency-catching-on/http://

I took this picture at the Bitcoin Conference

on/ … #bitcoin #Ripple #CFO