Are you looking to figure out for which tech crypto to buy in 2021? Which crypto coins are going to have a good year? Or which cryptos are a good long-term investment? Look no further than this blog! All of the TECH cryptocurrencies mentioned below are for sale at most crypto exchanges, including eToro, Binance, Bitvavo, et cetera.
TECH crypto: Ethereum
Ethereum (ETH) is considered the second most popular cryptocurrency after Bitcoin. Ethereum has some similarities with Bitcoin, but can do even more. The transfers of Ethereum are faster than those of Bitcoin and the blockchain technology of Ethereum can handle more transactions. In addition, unlike Bitcoin, Ethereum also supports smart contract technology. This is a secure way of concluding digital agreements without first building a mutual trust relationship. Bitcoin is only focused on digital transactions. Last and most importantly, Ethereum can also create centralized apps, also known as dApps. With the help of blockchain technology, these dApps run on a decentralized platform without central authority. For example, services such as Facebook and Whatsapp are centralized, this is not the case with dApps.
Ripple (XRP) focuses on enabling fast and cheap payments through a decentralized platform. It is a peer-to-peer network for international money transfers and provides financial institutions with a digital payment protocol. Instead of sidelining banks, it actually enters into partnerships with various banks and financial institutions. A large number of organizations have already supported Ripple, such as Santander Bank and American Express. Unlike other cryptos, Ripple does not work with blockchain technology. Ripple has developed its own technology to process and verify transactions: Ripple Protocol Consensus Algorithm (RPCA). This has the characteristic that transactions are relatively cheap and consume less power.
Cardano is known as the third generation blockchain and was founded by the co-founder of Ethereum. Cardano is very similar to Ethereum. Cardano’s goal is to run financial applications that can be used by millions of consumers worldwide, for example by companies, consumers, and governments. Cardano is so far the only currency where the blockchain has been developed where scientific research has been done to see where the problems lie in practice. For example, the blockchain was built by a team of engineers and academics. Cardano is still in development. It will therefore take some time before you can actually use it to pay for products and/or services.
Without a doubt, Bitcoin has become the most popular and well-known cryptocurrency in the world. Many merchants and businesses already accept Bitcoin as payment. For example, Bitcoin is already accepted as a valid means of payment at Microsoft and the Burger King. Bitcoin aims to remove the control of central organizations such as central banks and governments in payment systems. This way, every transaction is visible to everyone. Bitcoin is one big project in which different teams and developers continue to work on. A developer can do his or her part by participating in startup projects. Investing in Bitcoin will always be a good idea.
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