Types of Cryptocurrency Strengths and Weaknesses

Crypto / 1 October, 2019

Types of Cryptocurrency Strengths and Weaknesses

Types of Cryptocurrency Strengths and Weaknesses

Types of Cryptocurrency Strengths and Weaknesses known by many people in Indonesia. This is one of the blockchain representations whose impact is enjoyed directly by the public (consumers), other potentials are still being explored. Interest in cryptocurrency, generally as an investment, actually only increased after the exchange rate of the Bitcoin surged. Exactly after WannaCry shocked the digital universe. The attacker asked for a ransom for the release of the computer that was attacked by WannaCry with Bitcoin.

As of this writing, launching on the CoinMarketCap site, there are 1568 types of crypto currencies in the world. The number is still monitored continues to grow, along with the continued existence of ICO (Initial Coin Offering) conducted in various countries, including Indonesia.

Not all crypto currencies are popular, especially in Indonesia. If you look at the biggest market tanda (market tanda), the following is the ranking- with Bitcoin still continuing to lead the crypto market:

Crypto currencies with the highest market capitalization atau CoinMarketCap

As the Bitcoin exchange rate becomes more expensive, users are now starting to try to find other alternatives to invest or use existing cryptocurrency. Even so in Indonesia, some crypto investors that we have met explain quite logical reasons about the selection of Altcoin. Dilema choice and trust for crypto products, the condition is not far from the ranking above. However, each type of coin has a unique value that is trying to offer. DailySocial tries to summarize each, referring to various written and oral sources in Indonesia.

(1) Bitcoin (BTC)

Advantages:

Defining the advantages and disadvantages of Bitcoin will basically represent crypto currencies in general. The first advantage of Bitcoin is that it is a cryptocurrency, with increasingly sophisticated Hash Rate( cryptographic algorithm complexity), public trust is also guaranteed to avoid risks such as counterfeiting. This trust also helps the development of a garis besar community that strengthens its position as a currency that is not easily swayed by the conditions of society. Like gold, cryptocurrency can reduce inflation.

Deficiency:

If examined deeper, Bitcoin is speculative( in terms of value). The value is determined by the number of people or business units that accept Bitcoin. If more and more people use it, its value will continue to increase. Conversely, if it gets smaller, the implication is that the selling price will go down. Aside from being a crypto currency, Bitcoin is not sering di dengar with transaction cancellations. The process is also public, there is nomor entity that can provide guarantees for negligence that causes loss or error in the delivery process. A perangkat keras wallet( a special device for storing private keys) is also vulnerable to being attacked by a virus or damaged if not properly maintained, can cause coins to float.