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What is a cryptomeda and what can we find?

What is a cryptomeda and what can we find
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Cryptomime the digital currency is a digital means of exchange that was born in 2009 by the hand of the creator or creators of the most widely used digital currency, bitcoin, which used the pseudonym Satoshi Nakamoto.

The main differentiating features of digital coins compared to conventional coins are

Digital coins do not have a physical representation, it is purely electronic
It does not have the support of any government, the control of the currency resides in the bearers themselves, so the price of digital coins is totally determined by the law of supply and demand, if people start demanding more units of a certain digital currency its value will increase
It is not counterfeitable. By being an electronic currency the programmer chooses the number of coins he wants to put into circulation.
What digital coins can be found on the market?
Currently there are many different types of digital coins of which I will comment on three.

Bitcoin

Bitcoin was born in 2009 and is the most used digital currency, with a market capitalization of 4,494,755,766 $, software created by Nakamato uses encryption to trigger security elements such as bitcoins that can only be used once and only by its owner, its design allows transfers between public accounts in a totally anonymous way in addition, it is an instant system monitored in real time. The value of a bitcoin is about 264.39 euros, although it is worth more than 800 euros, every 10 minutes a bitcoin is created with a limit of 21 million, there are currently a total of 13,357,125 bitcoins in circulation.

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Litecoin

Litecoin, like bitcoin, is another digital currency that allows payments. It was launched on October 7, 2011, the currency is supported by the P2P network based on an open source cryptographic protocol, each litecoin is fractioned by 100,000 units to 8 decimal places. Currently it has a value of approximately 3 euros the difference from bitcoin is created one litecoin every 2.5 minutes with a limit of 84 million, with currently 32715738 litecoins in circulation.

Ripple

Ripple is the second digital currency with a trading level of $ 138,748,359 after bitcoin.  is an open source system, it has no owner, which implies that money transfers can happen from one system to the other and never requires personal identification. The original currency of the Ripple system is the XRP also called the wave. has a value of approximately 0.0038 euros. Currently, there are 28989252282 XRP

Litecoin: What it is, how it was born and what its advantages are

In this publication we will talk about the birth and the main features of Litecoin Cryptomeda. Although this currency is not as popular as Ethereum or Bitcoin, it has followed a similar process in terms of value quotation, with exponential revaluations in recent years. So much so that at the end of 2013 it reached a market capitalization of 1 billion dollars.

What is Litecoin

Litecoin is a cryptomeda supported by a p2p (open source) network, the same system by which Bitcoin is supported, but with a different mining system, it is not based on such a centralized system as Bitcoin. Data that can be seen as an advantage or as an inconvenience, depending on what is analyzed, we will analyze it further later.

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About the characteristics such as cryptomorphism, they are said to be virtual, abstract and without physical form in relation to traditional currencies, data that we have already explained in previous posts of Bitcoin and Ethereum.

How were you born?

The birth was on October 5, 2011 in the hands of Charlie Lee, software engineer, graduated at MIT and former Google employee. Litecoin was created to cover Bitcoin’s drawbacks, such as the centralization of the offer and the time of its transactions. On the other hand, Lee does not want to be a substitute for Bitcoin, he wants them to live together, as a complement to each other, so he created Litecoin with a different mining system.

Advantages

The advantages of Litecoin as cryptomeda are the following:




There is no government that can control its value
Very difficult to counterfeit if compared to traditional coins
Open source system, allowing implementations of improvement over time
Physical advantages, such as infinite durability, while the euro or dollar are physical products deteriorate with the passage of time.