33 Cryptocurrencies Described In Four Words Or Less [INFOGRAPHIC]

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Cryptocurrencies are the by product of very interesting fintech innovations that primarily allows for the secure payment of online transactions. They represent ledger entries in the blockchain of different kinds of exchanges taking place between parties.
"Crypto" refers to the various encryption algorithms and cryptographic techniques such as elliptical curve encryption, public-private key pairs, hashing functions etc. that sustains the system.
The first cryptocurrency to capture the mass appeal was Bitcoin, which was launched in 2009 by a mysterious individual or group known as Satoshi Nakamoto.
As of October 2018, over 17.33 million bitcoins are in circulation with a total market value of around $115 billion (although the market price of bitcoin can fluctuate quite a bit). The runaway success of Bitcoin has resulted in a number of competing cryptocurrencies which are categorised under the term "altcoins". Few examples of some popular altcoins are Litecoin, Namecoin and Peercoin, as well as Ethereum, EOS, and Cardano.
Today, there are more than fifteen hundred cryptocurrencies in existence whose aggregate market value adds up to over $200 billion (Bitcoin currently represents more than 50% of the total value).
Many altcoins perform just like Bitcoin and are based on the same blockchain structure with minor modifications. However, it is important to note that not all altcoins are Bitcoin alternatives.
Some are designed with significant detour from the peer-to-peer proof-of-work based cryptographic algorithm that drives the Bitcoin blockchain. Many of them are not cryptocurrencies in the classical sense and have been built to serve an altogether different purpose.
Some of the altcoins deploy the proof-of-stake methodology or smart contracts instead of the proof-of-work Bitcoin algorithm in order to verify and validate token events and achieve the desired objective.

Our friends at Mrbtc.org developed an interesting infographic on 33 Cryptocurrencies described in four words or less, please check the following infographic and share your thoughts.
https://mrbtc.org/about-33-cryptocurrencies/
 
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