Cryptocurrency Investments. This year the value of Bitcoin has soared, even past one gold ounce. There are also new cryptocurrencies available on the market, which is even more surprising which brings cryptocoins worth up to over one hundred billion. And on the other hand, the longer term cryptocurrency are on. Somewhat of a blur. There are squabbles of lack of progress amongst its core developers which make it less appealing as a long term investment and as a system of payment. Still the most famous, Bitcoin is the cryptocurrency that started it all. It's currently the largest market cap at around $41 billion and has been around for the past 8 years.

Around the globe, Bitcoin has been widely used and so far there's no easy to exploit weakness in the way it works. Both as a payment system and as a stored value, Bitcoin allows users to easily send and receive bitcoins. The concept of the blockchain is the basis wherein Bitcoin is based. It's vital to comprehend the blockchain concept to get a feeling of what the cryptocurrencies are about. Simply put, blockchain is a database distribution that stores each network transaction as a data chunk called a block. Each user has blockchain copies so when Alice sends 1 bitcoin to Mark, every person on the network knows it.

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One alternative to Bitcoin, Litecoin attempts to solve a lot of the problems that hold Bitcoin down. It's not quite as resilient as Ethereum with its value derived mainly from adoption of solid users. It is worth noting that Charlie Lee, ex Googler leads Litecoin. He's also practicing transparency with what he's doing with Litecoin and is quite active on Twitter. Litecoin was Bitcoin's second violin for quite some time, but things started changing early in the year of 2017.

First, Litecoin was adopted by Coinbase along with Ethereum and Bitcoin. Next, Litecoin fixed the Bitcoin problem by adopting the technology of Segregated Witness. This gave it the capacity to lower interchange fee and do more. The deciding factor, however, was when Charlie Lee decided to put his sole concentrate on Litecoin and even left Coinbase, where're he was the Engineering Director, just for Litecoin. Due to this, the price of Litecoin rose in the last few months with its strongest factor being the fact that it might be a true alternative to Bitcoin. Vitalik Buterin, superstar programmer came up Ethereum, which may do everything Bitcoin is capable of doing.

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Nevertheless, its purpose, mainly, is to be a platform for building decentralized applications. The blockchains are where the differences in between the two lie. Fundamentally, the blockchain of Bitcoin records a contract type, one that indicates whether funds have been moved from one digital address to another address.