November 17 Price Analysis: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin
Nov 18, 2017 Posted / 6807 Views
Cryptocurrency, in the last one decade, has to be the biggest sensation in the world of the digital finance industry. It all started with the unleashing of today’s most trusted electronic money, Bitcoin by an anonymous group of coders or an individual named 'Satoshi Nakamoto,' in the year 2009. From one at that time to hundreds now, the academic idea of decentralization was successfully implemented by Bitcoin, and this further paved way for the newcomers like Ethereum, Litecoin, to straightway hit the ground ruining
The blockchain is the core technology behind the success of digital money. Typically, it is a transparent, distributed, ledger, which maintains a record of all the digital transaction of their respective currency, like the ledger of the Bitcoin network will record all the Bitcoin transactions. Though you might perceive that this ledger probably can be hacked to enable scams and frauds, as a matter of truth, Blockchain is a fool-proof ledger, whose data by no way can be manipulated or deleted. There is one technical phenomenon to prove that right, the Blockchain network has no single point of failure. Means, the data of Blockchain ledger is distributed on all the computers in the network, which is probably in large number, in thousands. Therefore, a hacker or a group of them, who plan to get hold of the Blockchain network, need to attack all the computers in one single go, otherwise, the attack would be failed, as the network will retrieve the data from another computer.
With the prices of almost all cryptocurrencies on the surge, the future prospects of the world of electronic money are great. Also, taking into account, the number of perks it has in-store for worldwide investors, starting with no limitation whatsoever from the central government or any federal agency, no send to present critical personal data to receiver of currency, and most importantly, no demonetization here, the hard cash of government currency is bound to receive fierce competition from cryptocurrencies. Low transaction fees, in the recent years, have also backed the concept of electronic cash, as merchants and customers around the globe have started embracing, owing to is the perk of pretty low transaction cost.
Here, in this post we are putting forth the price analysis of several currencies-Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, on November the 17th, this year:
Being the world's largest currency, Bitcoin has seen witness tremendous growth from a price tag of $23 at the time of the unveiling of this currency to crossing the barrier of $700 this month. On the whole, over the years of operation, this cryptocurrency, in particular, has done well to win over the trust and confidence of not only the investors across the globe, also the commoners, those who are considering this as a future saving and paying off their bills at malls. With no story of scam and fraud directly holding the Bitcoin network directly responsible for establishment since 2009, this has to be a massive achievement, even though, the digital world is not fully cyber secure. All these factors of this cryptocurrency converged for Bitcoin to get the title of baton holder for the true implementation of the idea of cryptography.
In the last 24 hours, Bitcoin has witness a fall of 2.35% to reach the value of $7.507.39, which is quite significant in recent times.
Launched in the year 2015, Ethereum has a special which is going to revolutionize the world of business and customer deals, known as the smart contract. A smart contract is a deal signed over the Blockchain ledger that the avails of service and service provider indulge in. There is one or more than one condition added to the Blockchain network go through the transaction, once it is satisfied from both the parties. This virtual money is quite different from others in the list, as it presents the developers worldwide a platform to code applications, thus, the future of Ethereum, like Bitcoin, is on the bright side.
Ethereum, also seen a slight dip in the value of 1,34%to reach $327.071691.
The hard forking of the original Bitcoin currency gave birth to Bitcoin Cash on 1st August 2017, and in no time it has done well to establish an aura of its own. A massive uptick of 39.31% was registered for Bitcoin Cash on 17th November to attain value $1341.51
Rippe, a peer-to-peer electronic currency in the last 24 hours has seen a slight dip of 0.26%, to reach $0.223139.
Unveiled on 7th October 2011, Litecoin is a peer-to-peer cryptocurrency. A down-tick of 2.85% was witnessed in the last 24 hours, to reach $66.26.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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