So, the question is my fellow crypto-fans, How well do you really know the crypto-world? We’ve got some fun facts picked up from here and there for you to jog your memory. It’s time to see if you already knew these or not?
Scroll below and see for yourself. We’re going to get down to the basics with our favourite American sitcom Family Guy to keep you entertained.
Are you excited? You should be! Because we sure as hell are!
Just in case you forgot. The digital currency, known as cryptocurrency basically functions on a decentralized system. The idea behind it is, that it is inherently designed to work as a means of exchange without any administrators or central banks. What it really means though? You don’t have to go crazy anymore and wait for your transactions. No more annoying bank personnels and asking for your money!
We, bet you knew this already! But, it was still worth mentioning from our point of view. A little rerun hurts no one! Peace okay?
The highest cryptocurrency to see its value increase by over 3000% in the year 2017 was none other than Ripple. Wait, what? Are we serious? We bet your ass we are. Ripple is actually popular for its digital payment protocol rather than its cryptocurrency though. It allows swifty transfers of money in literally any form. USD? Litcoin? Bitcoin? Yen? You name it. They have got it ALL.
We think it’s totally rad how the cryptocurrency market cap is greater than the Mcdonalds market cap. Isn’t that a shocker?? But, my fellow crypto-enthusiasts that’s not all. Even the GDP of Vanuatu and the Russian military budget are left behind by the cryptocurrency market. Are you thinking what we’re thinking? Time to order some McDonalds? No silly! We’ve all the more reasons to make investments in the crypto-market. However, some McNuggets won’t hurt either.
Satoshi Nakamoto is the name used for the person who created Bitcoin. Who we still don’t know where the hell he really is and why he left without any due notice? He authored the “Bitcoin White Paper” and established Bitcoin’s reference implementation.
He was also the first one to devise the first blockchain database. However, Satoshi Nakamoto is not his real name. Did you know that? It’s an anonymous name he used to hide his true identity from the world. We still don’t know why the secrecy. But, we’ve never seen him and we never know if we ever will or not!
There is an alternative to the blockchain technology. Wait, when did that happen? It’s a bit sooner than we imagined. The world of technology is extremely unstable as the crypto-world. It keeps changing over and over again, without any sudden pauses to take a breath. Similarly, technologies are replaced when a new technology comes in town without a warning sign.
DAG is an alternative to the blockchain technology is called the real deal. It stands for Directed Acylic Graph. Oh, that sounds complicated. But, it really isn’t! It’s a directed graph data structure and uses a topographical ordering. It provides solutions to problems concerning data scheduling, processing and finds the best route for navigation.
The concept is still based on blocks, however unlike the blockchain technology where blocks can’t be created simultaneously. All the transactions occurring are in one block. DAG allows to have different types of transactions occurring on different chain simultaneously make everything much quicker than ever before. Oh, we’re interested. Aren’t you?