Dogecoin (DOGE) is a digital asset and cryptocurrency that was created as a parody of Bitcoin in 2013. It was named after the popular “Doge” internet meme, which features a Shiba Inu dog, and its logo is a cartoon version of the dog. Despite its humble origins, Dogecoin has become a popular digital asset and has seen significant growth in value.

As of December 10, 2022, Dogecoin has a market capitalization of over $10 billion, making it the sixth-largest digital asset. It has a total supply of over 129 billion DOGE, with over 129 billion currently in circulation.

One of the key features of Dogecoin is its large and active community. Dogecoin was originally created as a joke, but it quickly gained a dedicated following of users who were drawn to its lighthearted and community-driven approach. This community has helped to promote Dogecoin and has played a key role in its growth.

Dogecoin is also notable for its fast transaction speed and low fees. Dogecoin transactions can be processed in just a few minutes, making it much faster than other cryptocurrencies like Bitcoin, which can take up to an hour to confirm a transaction. In addition, Dogecoin fees are typically just a few cents, making it an inexpensive option for small transactions.

Despite its success, Dogecoin has faced criticism and controversy. Some have questioned the sustainability of its large supply and its status as a “joke” cryptocurrency, and there have been instances of Dogecoin being used for nefarious purposes, such as funding online attacks and scams.

Overall, Dogecoin is a popular and widely used digital asset, and its fast transaction speed and low fees make it an appealing option for users. Its large and active community is also a unique aspect of the Dogecoin ecosystem, and has helped to drive its growth and adoption.

USD Coin (USDC) is a digital asset and stablecoin that is pegged to the value of the US dollar. It is issued by the CENTRE consortium, a joint venture between Circle and Coinbase, two of the largest cryptocurrency companies in the world. Each USDC token is backed by a corresponding US dollar held in reserve, allowing it to maintain a stable value.

As of December 10, 2022, USDC has a market capitalization of over $10 billion, making it the fifth-largest digital asset. It has a total supply of over 11 billion USDC, with over 11 billion currently in circulation.

One of the key features of USDC is its stability. Since each USDC token is backed by a corresponding US dollar, it maintains a stable value and is not subject to the same volatility as other cryptocurrencies. This makes USDC a popular choice for traders who want to hedge against market fluctuations or who want to avoid the need to convert between different cryptocurrencies.

USDC is also widely used as a means of payment and a store of value on cryptocurrency platforms and exchanges. Many exchanges offer USDC as a trading pair, allowing users to buy and sell other cryptocurrencies using USDC. In addition, USDC is accepted by a growing number of merchants and retailers as a form of payment.

In addition to its use on cryptocurrency platforms, USDC is also being used in the traditional financial sector. In 2021, the Office of the Comptroller of the Currency (OCC) approved the use of stablecoins like USDC for bank settlements, and several major banks have begun using USDC for cross-border payments.

Overall, USDC is a prominent and widely used digital asset, and its stability and growing adoption make it an important player in the world of cryptocurrency.

BNB, or Binance Coin, is a digital asset and the native cryptocurrency of the Binance Chain blockchain. It was created by Binance, one of the world’s largest cryptocurrency exchanges, and is used to facilitate transactions on the Binance platform.

As of December 10, 2022, BNB has a market capitalization of over $35 billion, making it the second-largest digital asset by market capitalization. It has a total supply of 200 million BNB, with over 180 million currently in circulation.

One of the key features of BNB is its use on the Binance platform. BNB can be used to pay for transaction fees on the Binance exchange, and users who pay with BNB are eligible for discounted fees. In addition, BNB is used as the primary currency for initial coin offerings (ICOs) on the Binance Launchpad platform, which allows startups to raise funds by selling their own digital tokens.

BNB is also used as a store of value and a medium of exchange on the Binance Chain blockchain. The Binance Chain is a high-speed and low-cost blockchain that supports the creation and trading of digital assets, and BNB is used to power transactions on the chain.

In addition to its use on the Binance platform, BNB is also accepted by a growing number of merchants and retailers as a form of payment. Binance has partnered with several payment processing companies to enable BNB payments at brick-and-mortar stores, and the Binance Card allows users to spend BNB at any location that accepts Visa.

BNB has also seen significant growth in value since its launch. In 2017, BNB was trading at around $0.10, but by 2021 it had reached an all-time high of over $600. This growth has been driven by the increasing popularity of the Binance platform and the widespread adoption of BNB as a digital asset.

Overall, BNB is a prominent and widely used digital asset, and its use on the Binance platform and acceptance by merchants make it an important player in the world of cryptocurrency.

Tether (USDT) is a digital asset that is designed to be pegged to the value of the US dollar. It is issued by Tether Limited, a company registered in the British Virgin Islands, and is based on the Bitcoin blockchain. Tether claims that each of its tokens is backed by a corresponding US dollar held in reserve, allowing it to maintain a stable value.

As of December 10, 2022, Tether has a market capitalization of over $20 billion, making it the fourth-largest digital asset. It has a total supply of over 28 billion tokens, with over 28 billion currently in circulation.

One of the key uses of Tether is to provide a stable digital currency for use in cryptocurrency markets. Since Tether is pegged to the US dollar, it can be used to trade against other cryptocurrencies without being subject to the same volatility. This makes it a popular choice for traders who want to hedge against market fluctuations or who want to avoid the need to convert between different cryptocurrencies.

Tether has also been used by cryptocurrency exchanges as a way to provide liquidity and enable users to withdraw funds in fiat currencies. Many exchanges offer Tether as one of the available withdrawal options, allowing users to convert their cryptocurrencies into a stable digital asset and then withdraw it to their bank account.

However, Tether has faced controversy and criticism in the past. In 2019, the New York Attorney General’s office launched an investigation into Tether and its affiliated company, Bitfinex, alleging that the companies had engaged in fraudulent activity and misused customer funds. The investigation is ongoing, and Tether and Bitfinex have denied any wrongdoing.

Despite these controversies, Tether remains a popular and widely used digital asset. Its stability and widespread use on cryptocurrency exchanges make it an important player in the world of digital currencies.

XRP is a digital asset and a payment protocol that operates on the Ripple blockchain. It was created by the company Ripple Labs to enable fast, inexpensive, and scalable cross-border payments. XRP is the native asset of the Ripple network, and it is often used as a medium of exchange for other currencies.

As of December 10, 2022, XRP is the third-largest digital asset by market capitalization, with a value of over $10 billion. It has a total supply of 100 billion XRP, with over 45 billion currently in circulation.

One of the key features of XRP is its high speed and low cost of transactions. XRP transactions can be processed in just a few seconds, making it much faster than other cryptocurrencies like Bitcoin, which can take up to an hour to confirm a transaction. In addition, XRP transactions are relatively inexpensive, with fees as low as a few cents per transaction.

Another unique aspect of XRP is its use in the banking industry. Many banks and financial institutions have begun using Ripple’s payment protocols, including XRP, to facilitate faster and cheaper cross-border payments. In fact, Ripple has partnered with over 200 banks and financial institutions worldwide to use its technology.

One of the main criticisms of XRP is its centralized nature. Unlike other cryptocurrencies, which are decentralized and controlled by their users, XRP is controlled by a single company, Ripple Labs. This has led to concerns about the potential for censorship and manipulation of the XRP market.

Despite these concerns, XRP remains a popular digital asset and a key player in the world of cryptocurrency. Its high speed, low cost, and use in the banking industry make it a valuable tool for facilitating global payments.

Ethereum is the technology that powers the cryptocurrency Ether (Eth) and is built using blockchain technology. Currently, Ether is second in market value behind Bitcoin.

Ethereum was introduced back in 2013 when the founder Vitalik Buterin published a whitepaper, and two years later in 2015 Ethereum was launched.

What makes Ethereum different than Bitcoin?

Where Bitcoin primarily is a currency and store of value, Ethereum offers something else with its smart contracts. The definition of what a smart contract is:

Smart contracts are a type of Ethereum account. This means they have a balance and they can send transactions over the network. However they’re not controlled by a user, instead they are deployed to the network and run as programmed. User accounts can then interact with a smart contract by submitting transactions that execute a function defined on the smart contract. Smart contracts can define rules, like a regular contract, and automatically enforce them via the code. Smart contracts cannot be deleted by default, and interactions with them are irreversible.

https://ethereum.org/en/developers/docs/smart-contracts/

The smart contract has been the reason why people have selected to build their NFT (Non-fungible token) projects on Ethereum.

What is Ether?

Ether is the native cryptocurrency of Ethereum and is used as a means for purchasing things and also to pay the transaction fee (known as gas) that occurs every time a transaction is completed on the blockchain.

In the last post we looked at what blockchain is and how it´s defined. Often when people think about blockchain they think about cryptocurrency. What is cryptocurrency? Bitcoin is probably the first cryptocurrency and the one that most people have heard about.

Below is a graph from Google Trends showing the amount of searches, as you can see it peaked around the launch and is now starting to pick up again.

So let´s dive into trying to learn what cryptocurrency is.

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend

https://www.investopedia.com/terms/c/cryptocurrency.asp

Investopedia describes it as a secure digital currency that is nearly impossible to fake or counterfeit, very similar to the definition of blockchain. Cryptocurrency is built on blockchain technology.

Cryptocurrency is decentralized

What does it mean that a cryptocurrency is decentralized? A centralized currency is very often also a national currency for example the U.S. Dollar ($). It´s governed by the government of the US and they are able to decide what actions to take (like for example to print more money). When it comes to decentralized currency it is not governed by one body but is distributed.

To summarize what cryptocurrency is:

• A digital currency
• Often decentralized (there are some expectations)
• Hard to fake or counterfeit