Describe Each Coin In Under A Minute
It can be hard to keep track of the dozens of major cryptocurrencies, especially when Wikipedia describes most of them the same way! Even if you know the specific differences between them, it can be difficult to answer your casual crypto friends when they ask for a simple explanation. I thought it would be helpful to create a VERY, VERY rough description of the major coins to help distinguish them.
- Bitcoin - Online money without a bank.
- Ehereum - Distributed computer.
- Ripple - Bitcoin for banks.
- Bitcoin Cash - Bitcoin with a different strategy for speeding up transactions.
- Cardano - Ethereum that is heavily peer-reviewed.
- Stellar - Bitcoin that is faster and made to interact with traditional money.
- NEO - Ethereum but with a heavier focus on digital identities rather than distributed applications.
- Litecoin - Bitcoin but faster.
- EOS - Ethereum with a focus on supporting many applications and low fees.
- NEM - Ethereum with a focus on making smart contract development easier.
Leave a comment if you would like to propose a description for a new coin or you would like to recommend a revision to one of the above descriptions. I will be adding more coins so follow for updates!