Types of Cryptocurrency Advantages and Weaknesses

Crypto / 2 May, 2020

Types of Cryptocurrency Advantages and Weaknesses

Types of Cryptocurrency Advantages and Weaknesses – Cryptocurrency or crypto money continues to be known by many groups of citizens in Indonesia. This is one of the blockchain representations which consequently is enjoyed directly by the consumer group, other abilities are being explored a lot. Interest in crypto currency, usually like capital, is actually faster after the numbers change Bitcoin jumps. Exactly after WannaCry shocked the digital realm. Invaders are asking for the release of PCs affected by WannaCry with Bitcoin.

Nlai Bitcoin after that jumps fast. In another part of the Alt-coin (non-Bitcoin crypto currency) and then appear, usually with the aim of justifying Bitcoin or offering the latest methods for mining and business methods. When this note was made, quoting on the CoinMarketCap website, there were 1568 types of crypto money on earth. The amount is being monitored and then increasing, together with the existence of ICO (Initial Coin Offering) which is tried in various countries, listed Indonesia.

Not all crypto money is famous, especially in Indonesia. When looking at the most investment markets (market marks), then ranks with the acquisition – with Bitcoin currently chairing the crypto market:

2 crypto currency with the highest market investment or CoinMarketCap

Along with the increasingly high numbers to change Bitcoin, consumers today are trying to find other substitutes for donating or using the existing crypto money. Likewise, in Indonesia, some of the crypto investors we met bore a pretty good alibi about the determination of Altcoin. The question of options and beliefs for crypto products is not far from the ranking above. However, each coin type has a special number that is trying to be offered. DailySocial tries to summarize each, referring to the various bases, both recorded and tongue found in Indonesia.

(1) Bitcoin (BTC)

Advantages:

Describe the advantages and disadvantages of Bitcoin basically want to replace the crypto money in the usual way. The initial advantage of Bitcoin is that its character is like a crypto currency, with Hash Rate (the level of complexity of cryptographic algorithms) that continues to be up to date, public confidence also continues to be safe to be free from the risk of some kind of manipulation. This belief helped to develop an outline community that solidified its position like money that was not easily swayed by the citizens’ situation. Like a kencana, cryptocurrency can reduce the rate of inflation.

Deficiency:

When examined deeper, the character of Bitcoin is hypothetical (in relation to numbers). The value is determined by several people or business sectors who welcome Bitcoin. If it continues to be a lot of people who use it, its value will then increase. The converse, if it continues to be slight, implies that selling prices will go down. Not only is it like crypto money, Bitcoin does not understand business cancellation. The process also applies to the public, there is no entity that can share collateral for negligence that results in endless or mistaken delivery. A hardware wallet (a special feature for putting exclusive keys) is also vulnerable to being invaded by viruses or facing destruction if not properly maintained, can lead to floating coins.

(2) Ethereum (ETH)

Advantages:

Very close to Bitcoin, but specially designed to be an open smart contract. Businesses that are tried on the blockchain can carry out smart contracts through various methods, for example by sending digital money or information to the purpose of the contract. If successfully executed, the smart contract can do more business or carry out other smart contracts. Ethereum Virtual Machine (EVM), is an application that developers can use to make various applications as easily as creating a business crypto platform application. With the designs offered, developers don’t need to make and take care of their own blockchain.

Deficiency:

Behind the relief offered in the way of development, there are some things that actually become weaknesses. The beginning is the question of dexterity of access, not all of which can be expected because it is dependent on distributed servers. Application development over the Ethereum program can be analogous to leasing web-hosting services, when the server is down, so the systems that are serving under it also do not play a role. Apesnya, developers also can not improve the functionality of the blockchain in an independent way, because it is obligatory to contribute by totality. When dealing with hardforks (miners carry out different rules in a dense way), they want to influence directly to the application being raised. Each computation also wants to want Ether (coin type) which increases depending