Future of Litecoin, Ripple & Ethereum in India
Sep 19, 2017 Posted / 7167 Views
Litecoin, Ripple & Ethereum are call counted as altcoins.Altcoins are the cryptocurrencies which are not bitcoins. The market is seeing a growing demand for the altcoins.
Litecoin, under the MIT/X11 license , is a open source software project and peer to peer cryptocurrency released. Transfer of coins and their creation is not managed by any central authority and is based on an open source cryptographic protocol.It has some technical enhancements over Bitcoin, and other major cryptocurrencies, such as the Lightning Network and adoption of Segregated Witness. The blockchain of Litecoin is able to handle higher transaction volume. The network is thus planned to produce 84 millions of litecoins, which are four times as many currency units as Bitcoin.The Wallet encryption enables you to protect your wallet, so that you can always have a look at your transactions. The open source feature gives you the power to modify, run, distribute, and copy the software at your option.
Ripple is a digital currency (XRP) and an open payment network in which that currency is transmitted. Ripple is a distributed, open source payments system. The goal of the ripple system is to enable people to break free the financial networks i.e. credit cards, banks and other institutions that confine access with fees, charges for currency exchanges and processing delays.
OpenCoin, which was co-founded by CEO Chris Larsen and CTO Jed McCaleb, is the company behind ripple, says that the currency addresses the need to keep money flowing freely.
XRP is a cryptocurrency which is based on mathematical formulas and also has a restricted number of units that can be mined.
Both forms of currency can be moved from account to account (peer-to-peer) without the requirement for any intervening third party. And they provide digital security to guard against the possibility of forgery of coins.
Ethereum is created on blockchain, a technology that highly regarded tech experts assert could become that it could become 'bigger than cloud computing.' Ethereum is a platform and a programming language that helps developers to build and issue next generation distributed applications and smart contract enabled blockchain.
Thus there is an increasing recognition among people in holding these new age currencies, numerous Bitcoin and Altcoin exchanges have pushed to boost ease of access among India investors looking ahead to enter the movement. Many exchanges are offering Bitcoins as well as Altcoins and crypto tokens as typical offering in Indian Rupees building it far more easy to get to the regular Indian investors. Where in the past Indian investors had narrow options to way in the crypto market. Additionally, the only process assumed up to now by these exchanged to account these investors is through KYC and identity proofs reminiscent of Aadhar card and PAN are commanded by these exchanges as part of their authorization process to trade crypto’s on these exchanges.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.