As we all Know Bitcoin was the first cryptocurrency to use
blockchain and has been the market leader since the first bitcoin was mined in
2009. After the birth of Bitcoin, more than 1,9000 altcoins and crypto-tokens
have been created, with at least over 1800 trading actively on unregulated or
registered exchanges like Binance, Kucoin, Hotbit, Coinbase, Bitrex and many
other exchanges. With this article readers will understand cryptocurrencies and
to explore their risk and return when they invest in cryptocurrencies.
Like you have seen online and many social media platforms a
new form of financing for cryptocurrency and blockchain start-ups is born is
known as ICO which means initial coin offerings or crowdsales. Many Companies
have raised millions of dollars selling tokens during the ICO period to finance
their blockchain projects and cryptocurrency.
Since 2008 the invention of Bitcoin by a man known as Satoshi Nakamoto has
spurred the creation of many alternate cryptocurrencies also known as alt coins
like WooshCoin (XWO) Ripple (XRP)
Bitcoin Cash (BCH) Ethereum (ETH) and over 2000 other coins which use similar
technology known as cryptography but emply different algorithmic designs.
According to Coin MarketCap and many Crypto Analyst nearly over
1818 cryptocurrencies are currently trading around the world in over 12853
Markets with a combined market capitalization of over US$209.679 billion by circulating supply as
of August 11, 2008 and bitcoin Dominating the market with 50.4 Billion. The
price of bitcoin surged to US$18,065 on December 16, 2017 which got the world
attention and everyone in the world and financial market wants to know what is Bitcoin.
Many have argued on CNBC financial News and Bloomberg financial news that,
despite their payment utility, bitcoin and cryptocurrencies have no intrinsic
value and may be the perfect vehicle for forming a bubble.
Today, the blockchain technology used by many cryptocurrency,
such as Bitcoin and WooshCoin (XWO) is
an open distributed ledger that records transactions. This solves the
double-spending problem and does not require a trusted third party.
Decentralization allows the blockchain technology to have increased capacity,
better security, and faster settlement. As a result, blockchains and
cryptocurrencies have become two of the most pressing topics in the financial
industry. In 2008 during the global financial crisis which was coupled with
lack of confidence in the financial system, provoked considerable interest in
cryptocurrency. Same time in 2008 a ground breaking white paper written by
Satoshi was everywhere online. In that white paper this unknown figure or
person introduced digital currency that is widely known now as Bitcoin. Because
the blockchain technology is an open and distributed ledger that records all
transactions in permanent and variable way solves the double spending problem.
In 2018 a New Cryptocurrency was born known as WooshCoin with the symbol XWO which can be
accepted as a payment for goods and services or bought either from other people
or directly from exchanges. These WooshCoins can be transacted via software,
apps, or various online platforms that provide wallets. Another way to obtain WooshCoin
is through mining,promotions and referral
services. The Wooshcoin system runs on
a p2p network and transactions happen directly between users with no
intermediary. Wooshcoin is built under one of the best blockchains in the world
today the Ethereum Blockchain which transactions recorderd in a public ledger
and are verified by network nodes which could be individuals using a network
system with Ethereum mining software installed. Once users have made a
transfer, the transaction will be broadcast between users and confirmed by the
network. Once Verified, it will be recorded in the Ethereum blockchain, and
then the transfer is completed. This record-keeping process is referred to as mining, and people offering the computing power to do so are called miners.
Like many tech gurus will tell you today, Bitcoin is open
source and the source code is available on GitHub. Therefore, coders around the world
have been enlightened by the invention of Bitcoin and have created hundreds of
cryptocurrencies, which are referred to as alternative cryptocurrencies, or altcoins. Bitcoin is not perfect. WooshCoin (XWO) and other new altcoins are
invented to address specific issues such as high computation cost of Power, to
increase the number of transactions per second, to increase the block size, to
ensure that the ledger is not as transparent, to accommodate more efficient use
of smart contracts, and so on.
Moreover, to pay for development and launch expenses,
developers can raise funds for the project even before the cryptocurrency is
launched. In particular, initial coin offerings (ICOs), initial crypto-token
offerings, and initial token sales are similar approaches to raising funding to
develop new crypto-tokens and cryptocurrencies. WooshCoin New ICOs on September 15th,
2018 will allow people to invest in a project by buying part of its
cryptocurrency tokens or prelaunched ERC20-compliant tokens residing on the
Ethereum network in advance, typically based on a white paper or other
documents on the project for investors to evaluate. WooshCoin (XWO)
creators and team have reffered the XWO token as the future of digital currency
and have pledged to market and promote the use of the token around the world
and bring over 20 million none crypto users into the crypto world which in
return the value of the coin does not depreciate instead token owners will see more
value on their coins. Is WooshCoin XWO the
next Bitcoin? Well time will tell as the launch their future projects like Woosh
Wallet, WooshX, ICOWoosh, CryptoWoosh and Woosh Exchange – "The Woosh Empire".
Based on cryptocurrency market value as of August 10, 2018,
Bitcoin dominated the market with more than half of the total market value and
the highest price. Ethereum, Ripple, Stella, Bitcoin Cash, EOS, Cardano,
Litecoin, thether, Tron, Monero, iota & Ethereum Classic also have large
market capitalizations of more than US$1 billion. In addition, the supply of
different coins varies substantially due to the unique characteristics of each
coin, and some coins are not mined, suggesting a fixed amount of supply. The
price of the coins ranges from US$0.002 to well over US$1,000.
Article written by
Jerry N – Crypto Advocate
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