Handling crypto assets
Ripple_
XRP is the native crypto asset of the XRP Ledger, which went into operation in 2012 for a variety of purposes. Among them, Ripple Net provided by Ripple is used as a bridge currency between fiat currencies in the remittance of financial institutions. It is used as on-demand liquidity, and the liquidity of financial institutions is much larger than before. The reach of remittance destinations can be expanded globally while reducing sexual costs. In addition, XRP also has the feature of charging transaction fees for XRP Ledger transactions. When there is an attack on the network, the fee will automatically increase, so it is a mechanism to prevent attacks in advance. XRP can be settled every 3 to 4 seconds and has a scalable structure that can settle 1500 transactions per second. Additionally, XRP has a mechanism called Reserve that requires each address to have a balance of at least 10 XRP as a base Reserve.
Bitcoin (Bitcoin)
BTC gets the right to be recorded on the blockchain by solving an automatically adjusted math problem (called mining) in about 10 minutes, and issues a certain amount of BTC as a mining reward. It's done. Nodes who challenge math problems to get records on the blockchain and receive mining rewards are called "miners". Since solving math problems quickly is a condition for obtaining the right of record, the more miners who can prepare high-performance computer resources, the more likely it is to obtain the right of record and receive BTC. Also, with the increase in transaction volume in recent years, the number of conditional (fee on record) transactions that "pay miners conditioned on the transaction being recorded on the blockchain" is increasing in order to quickly confirm transactions. I'm.
ETH (Ethereum)
ETH is a cryptographic asset that enables building distributed applications (Dapps "Dapps") and implementing smart contracts on the blockchain. There are two types of accounts on the ETH blockchain: Externally Owned Accounts (EOA) and Contract Accounts (CA). ETH is settled by EOA and smart contract tokens are settled by CA. On the blockchain, we have a mechanism that records not only transaction information but also contract details. The beauty of currency is that there is a lot of scope for building currency-based projects using this mechanism. The consensus algorithm uses the same proof-of-work as Bitcoin, but in the future, the larger the amount of ETH known as proof-of-stake, the more successful mining will be. also presented.
BCH (Bitcoin Cash)
BCH is a cryptoasset created through a hard fork on August 1, 2017, as Bitcoin faced scalability issues. The basic specifications are the same as Bitcoin, but the block size is different, Bitcoin is 1MB, and Bitcoin Cash is 32MB, which can process more transactions at a time. In addition, since it is aimed at being a payment currency, it also features low fees. The scalability problem is that as Bitcoin awareness increases and users rapidly increase, sending a large amount of transaction data exceeding the regular capacity of 1MB, the fee increases. Processing time delay. In this way, the problem of losing the original convenience due to the increase of users is called "scalability problem". To solve this problem, two approaches were discussed, SegWit for soft forks and large blocks for hard forks, which resulted in the adoption of large blocks with increased processing power. Born after the hard fork was implemented.
LTC (Litecoin)
LTC was developed to address the shortcomings of Bitcoin's issuance limits and transaction approval times. Bitcoin is capped at 21 million BTC, but LTC is designed to generate 84 million LTC, four times that. In addition, by introducing Segregated Witness, the transaction data volume can be compressed, and the approval speed is about 2 minutes and 30 seconds, which is a quarter, while Bitcoin takes 10 minutes per block, which will be the speed. Since LTC is developed based on Bitcoin technology, its basic mechanism is the same as Bitcoin, using proof of work using the Scrypt algorithm. Miners will receive 12.5 LTC for every block mined, and this amount is halved approximately every 4 years (half-life). The first was on August 26, 2015, and the second was on August 5, 2019. LTC is practical and focused as a payment service. In the future, as more and more companies adopt it as a payment method, its value will be further enhanced and may become more popular with the public. ...
LINK (link)
LINK is a crypto asset processed on Chainlink, a distributed oracle-enabled platform that connects smart contracts (on-chain) and information off-blockchain (off-chain). Oracles are middleware that acts as a bridge between smart contracts and off-chain data. In particular, a decentralized oracle removes the system risk of a single central administrator and increases data reliability through validation with multiple linked oracles. Link technology makes it possible to connect off-chain, which was previously difficult to connect. For example, smart contracts and existing data are expected to be securely managed and utilized in various real-life areas such as finance, securities, insurance, and trade, such as various web applications and bank payments. Additionally, chain links can connect different blockchains as well as off-chain. Many blockchains are incompatible with each other and cannot be connected as-is, but can be intermediary through a chain ring.
DOT (Polkadot)
DOT is a cryptocurrency asset processed on Polkadot, a project developed by the Swiss foundation "Web3 Foundation" to enable a new decentralized web called Web3.0. So far, Polkadot is a centralized type where some companies collect and manage personal information, but by decentralizing it through blockchain technology, personal information will be managed distributed among users, as well as unauthorized access, our The goal is to become a Web 3.0 information breach that reduces risk. In addition, Polkadot can achieve interoperability by connecting different blockchains, which is not possible with traditional blockchains, so the application scope of blockchain is likely to expand. Additionally, parallelized blockchains called parachains process transactions in parallel to increase processing speed, which can solve scalability issues such as transaction delays and spikes in crypto asset fees.
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