With shattering records every day, has bitcoin become the best amongst all the cryptocurrencies?
Nov 08, 2017 Posted / 1889 Views
The unregulated version of currencies which has become a concept so famous that its flagbearer “Bitcoin” has been shattering records, every day. Digital money has become so well-known that it has inflicted people to invest and know more about it. The digital currency saga starts from the point when Father of Bitcoin Satoshi Nakamoto conceived the idea to bring in the cryptocurrency called Bitcoin on the decentralized technology called blockchain. Since then there has been no looking back of such kinds of currencies. The digital market is flooded with many types of cryptocurrencies. With each passing day, digital currencies are creating waves in the market. But can we think about any cryptocurrency better than bitcoin at this point? Be it any aspect of comparison, Bitcoin doesn't fail to impress us, even if it is volatile.
When we look at the digital currency concept, most of the features seem to be alike. Then what makes Bitcoin stand out in the league? The prices of Cryptocurrencies are majorly based on the demand and supply factor. The demand of Bitcoin is more than the other cryptocurrencies. Adoption of any cryptocurrency is a crucial factor which level ups the game for it. Bitcoin has more adoption rate, also it has the largest hash rate, participating nodes, accepting sites as well as people going over the code and protocol. There were cryptocurrencies before bitcoin. But what changes the scenario of the crypto market is the feature of blockchain mechanism which was present in Bitcoin.
When it comes to the best performing currency certainly goes to Bitcoin not only in the cryptocurrency category but also amongst the fiat currency or any category of currency. In the year 2016, it was termed as the best performing currency with the gain of 126.2%, beating all other currencies against the USD. The year 2017 is about to end soon, and we can expect that the award to the best performing currency can be given to Bitcoin again. The tremendous market increment has paved the way for Bitcoin to sit on the reigning currency throne. This exceptional performance has not been given by any other currency, so we can certainly say that Bitcoin is the best amongst cryptocurrencies till date.
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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