The Dissection of Crypto
Bitcoin the pioneer in the race of digital currency and digital assets was launched by Satoshi Nakamoto at the start of 2009. With the aim of providing a better alternative for the highly divided cash economy, the code for Bitcoin was written as open-source so as to allow people across the globe to see, replicate and make their own form of digital currency. WHY IS THE DIVISION OF COINS NECESSARY? As of today, more than 5000 different digital coins are being traded. The coins that followed the bitcoin were termed as ‘Alt-coins’. Crypto is a broad term currently prevalent for all the alt-coins but, these coins were formulated keeping a specific interest for the use of the currency. This helps us to break them into two main types: Coins and Tokens. Let’s have a look at each of them. A] COINS Coins have their own native blockchain and act as medium for transferring monetary funds. Certain projects even serve as a host blockchain platform for tokens. 1) Currency