Ethereum
Decentralized
software
platform which enables
smart contacts and to run
without a downtime, fraud
or interference with another
party. major currency, it will have to gain acceptance among people
first.
Ripple
This network offers instant,
low-cost
international
payments. It doesn’t need
mining, which helps to reduce
computer power. Industrial investors will invest in cryptocurrency. Once the
regulations are established, they will have a chance to invest
with confidence, knowing their assets are secured by law.
Also, it will get other people’s attention to cryptocurrency.
Global standard rules and regulations will be introduced to
cryptocurrency networks. This topic had been discussed in
many international meetings throughout the world in past
years, including the G20 summit which was held in Argentina.
Cryptocurrencies are very much volatile. Which means, its
value changes frequently. There are many factors that keep
Bitcoin cash
it volatile. Even though regulations are introduced into the
This was created to increase network, this volatility will keep going. There’s a chance that
the block size limit of Bitcoin. this volatility can crash the whole network.
Effective from August 1st,
2017.
Cryptocurrency uses a peer-to-peer network for its
transactions. Using a mobile device, two people can access the
Litecoin
network and exchange. With the vast usage of smartphones
Created in 2011 based on an and mobile devices these days, more people will be attracted
open source global payment to these kinds of transactions in the future.
network. This is also a peer-
to-peer network.
Quotes
“Bitcoin is really exciting because it shows how cheap it can
Monero
be. Bitcoin is better than the currency in that you don’t have
This is an open source to be physically in the same place and, of course, for large
cryptocurrency
mainly transactions, currency can get pretty inconvenient.” - Bill
focused on privacy.
Any Gates
person can access its public
ledger, but outside observers References
cannot find the transaction
1. What is Cryptocurrency. Guide for Beginners, 2018, accessed on
details such as value and
10 November 2018
source.
Future of cryptocurrency
Though cryptocurrency is
growing fast, it is still a very
miniature portion of the
whole currency system. And
most of the people around
the world do not use it in
their daily transactions. If
cryptocurrency is to be a
2. What is Cryptocurrency: Everything You Must Need To Know!,
2018, last accessed on 10 November 2018
3. How Does Cryptocurrency Work?, 2017, accessed on 11 Novem-
ber 2018,
H.M.P.M.K. Herath
3rd Year- Department of Electrical and Electronic Engineering,
Faculty of engineering,
University of Peradeniya.
GAUGE Magazine University of Peradeniya
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