Kinds of Cryptocurrency – IV
Monero is a cryptocurrency that has the most anonymity when it come to their transactions made. It is a secure and untraceable currency system that uses special kind of cryptography for a 100% unlikeable transaction. The Monero receives high-level of popularity due to its privacy oriented features after it was launched in 2014. The mining process used by Monero is based on Egalitarian concept.
The cryptocurrency IOTA is very much different from majority
online currencies – it’s designed for machine but can’t be mined. IOTA stands for ‘Internet of Things Application, it addresses the scalability issues of blockchain and the transaction fees at the same time by getting rid of the block and chain. The mechanics is to simply verify two previous transactions, in order to submit it to the
IOTA ledger. The total supply of this coins are fixed into 2,779,530,283,277,761 coins. Miners doesn’t have to power-up the network and there is no central ledger for this cryptocurrency.