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From Bitcoin to Cardano and Binance, what are the differences between the different cryptocurrencies




“Bitcoin is the oldest cryptocurrency in circulation and, therefore, it is not the most optimized. Its use is very basic, it only allows sending and receiving bitcoins” Hinz reviewed and expanded: “ETH allowed the creation of smart contracts, which gave rise to the universe of Altcoins that appeared later and that today allow the existence of NFT’s, too”.

“Without a doubt, the projects to be highlighted are Bitcoin, Ethereum and BNB. Bitcoin, for being the original cryptocurrency, ETH, for allowing smart contracts and BNB, for allowing them to be accessible to everyone thanks to their low cost, “said Maximiliano Hinz, Binance’s Latam Operations Director.

Binance

BNB was launched through an Initial Coin Offering (ICO or Initial Coin Offering), which took place between June 26 and July 3, 2017. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Despite the fact that BNB was launched via an ICO, the token does not grant users rights to the profits generated by Binance, nor does it represent an investment in Binance.

Today the value of BNB is around US $ 397 and approximately 8 BNB buy one ETH or 117 BNB one Bitcoin.

“As we can see, the currency appreciated significantly, about 300 times against ETH and about 150 against Bitcoin. This is thanks to several factors: Binance is the world’s # 1 exchange in terms of Volume, BSC, the network where it is located. it uses bnb to pay transaction costs, it is the network with the highest number of operations. Doubling the number of operations carried out on the Ethereum network and there is a controlled burning of the tokens “explained Maximiliano Hinz.




“At first BNB began with an issue of 200,000,000 tokens, and currently it consists of 168,137,036 that will end in a circulating of 100,000,000” he added. BNB’s current capitalization is $ 49,575,897,936.

Cardano

Cardano was founded by Charles Hoskinson, who was also one of the co-founders of the Ethereum network. Hoskinson is the CEO of IOHK, the company that built the Cardano blockchain.

“Cardano is one of the largest blockchains in successfully use a proof-of-stake consensus mechanism, which consumes fewer resources than the proof-of-work algorithm that Bitcoin relies on. Although the Ethereum giant will be upgrading to PoS, this transition is only going to take place gradually, “Coinmarketcap reported.

“All the technology developed goes through a research process done by other users of the network, which means that bold ideas can be questioned before being validated. According to the Cardano team, this academic rigor helps make the blockchain durable and stable., increasing the possibility that any problem can be anticipated, “expanded Coinmarketcap.

Cardano is worth this Friday u $ s2 with a 24-hour trading volume of $ 6,890,526,735 USD. Cardano is up 15.52% in the last 24 hours. It has a market capitalization of $ 64,765,375,140. Its circulating supply of 32,112,337,286 ADA coins and a maximum supply of 45,000,000,000 ADA coins.




TAMMY SEWELL
Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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