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virtual currencies

Top Virtual Currencies 2016


Top Virtual Currencies 2016

There are quite a few virtual currencies, but these are the top cryptocurrencies for 2016.



The original cryptocurrency is Bitcoin and even though it is not as valued as high as it once was, it is still the most valuable virtual currency. Bitcoin uses a proof of work verification system that is resistant to fraud, but it does use a lot of power.


BlackCoin was created so that the reliability of proof of stake valuation could be proved. BlackCoin was launched strong with integration into some real world point of sales systems. However, recently the growth of BlackCoin has come to a stand still. This virtual currency is only accepted in a few businesses across the world, but these businesses are diverse and include shaving products, landscaping and yoga classes.


Evan Duffield and Kyle Hagan introduced Dash and this virtual currency uses some key innovations that are aimed at increasing anonymity and to improve how the system functions. The main function of Dash is to act like electronic cash whilst providing a high level of anonymity. Dash is not widely accepted by retailers but a good number of independent businesses accept it.


Dogecoin has not been widely accepted like other cryptocurrencies, but there are a number of retailers that have accepted the currency. There are over 200 companies that accept Dogecoin as a form of payment. Holders of the currency have also engaged in several charity campaigns to establish the legitimacy of Dogecoin.


The main purpose of Litecoin was to improve the proof of work currencies through some powerful tweaks. Litecoin has maintained a good portion of its value and is accessible to first time investors. Litecoin is accepted by independent businesses that include gaming, electronics, apparel and advertising. However, Litecoin has struggled to gain widespread acceptance due to its innovation and its lack of first mover advantage.


Fun Facts About Ethereum Virtual Currency


Fun Facts About Ethereum Virtual Currency

Bitcoin was the most popular virtual currency, but with the price of bitcoin stumbling and disagreements over the crpytocurrency’s future has made some of the major developers walk away from the project. The interest for bitcoin is then waning, but this is not true for Ethereum.

Ethereum is becoming the new and popular choice of virtual currency.

Ethereum is a blockchain based protocol. Here are some fun and interesting facts about Ethereum.


Ethereum is Not A Cryptocurrency

Ethereum is not actually a cryptocurrency even though it is spoken about in the same context as bitcoin. Ethereum is actually a platform and Ether in the unit of exchange, which drives Ethereum. Ether is then the cryptocurrency.

Ether is a Fast Growing Cryptocurrency

The value of bitcoin has dropped this year from $434 to $406. Ether on the other hand has seen its value increase nearly five times during the same time.

Ethereum is Catching Bitcoin

Ether has actually overtaken Ripple and Litecoin in terms of value. Cryptocompare.com has said that Ether is currently at a market cap of $424.47 million. This is still not close to bitcoins $6.18 billion but they are closing the gap.

Bitcoin’s Loss Has Been Ethereum’s Gain

With the war on block size wages still going on between bitcoin developers, Ethereum has been a draw for dissatisfied bitcoin investors.

As users are looking for stability they have been changing bitcoins into Ether. In fact, in just 24 hours 60 000 bitcoins were exchanged for Ether.

Banks like Ethereum

Bitcoin does still have a role to play, but Ethereum will become a lot more valuable in the fintech industry as it moves to a blockchain based application that will use smart contracts in order to automate financial processes.

As the demand for smart contract enabled networks increases so will the value of the Ethereum platform.

The surge of Ether could be partly due to the major banks teaming up with startup R3 to test a system that uses block chain to trade.

This test was conducted on a Microsoft platform that ran on a black chain, which was built by Ethereum.