What are different types of cryptocurrencies?

[Good-Person]

Cryptocurrencies is one of the hottest topics out there. This is obviously due to many different kinds of reasons. However, we must know that there is no single kind of cryptocurrencies. In fact, there are many different kinds of cryptocurrencies, so what are some types of cryptocurrencies?

 

[Riberet19]

There are cryptocurrencies that work in Proof of work, others that work in Proof of stake, and some that work with a hybrid system between these two. The cryptocurrencies that work in the Proof of Work protocol are those that use mining equipment to help the network create new blocks and confirm transactions. , and Proof of stake cryptos are those that do this procedure through a network concession where with your tokens in a staking system you help create new blocks and confirm transactions, then some tokens are like other currencies that are created within a blockchain specifying that they can have different functions.

 

[Yaqoob Habib]

Cryptocurrencies is one of the hottest topics out there. This is obviously due to many different kinds of reasons. However, we must know that there is no single kind of cryptocurrencies. In fact, there are many different kinds of cryptocurrencies, so what are some types of cryptocurrencies?

As technology is increasing, Cryptocurrency is a very good medium for digital transactions.Crypto currency is a blockchain besd technology Like bitcoin ethereum LTC & dogecoin etc.

 

[Nomad]

There are crypto coins and there are crypto tokens. Crypto coins have their own blockchain platform, where as crypto tokens exist on other blockchain platforms, most crypto tokens use Ethereum blockchain. Crypto coins are also categorised based on proof or work and proof of stake. Sometime back Ethereum converted to proof of stake from proof of work consensus mechanism.

 

[Timgab]

Here are some top cryto currencies

Bitcoin (BTC) - The first and most famous cryptocurrency "digital gold."

Ethereum (ETH) - This very one is popular for its smart contract capabilities and decentralized applications.

Binance Coin (BNB) - this one develop by Binance exchange, used for transaction fees and various services on the Binance platform.