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29 Oct

Is the Majority of the Cryptocurrency Market Centralised? A Research Study Thinks So!

By Daniel Zo SEC, Fiat, ICO, Ethereum, Ripple, CryptoCompare Read Comments

One of the biggest advantages that cryptocurrencies have over their fiat counterparts is the decentralized status, which provides higher security, reduces attack risks, and ensures that coins are not controlled by a central entity. Despite this aspect, recent research has concluded that the majority of digital assets available on the market are centralized.

To put things better into perspective, CryptoCompare, which is a market data aggregator, has recently published a digital asset analysis for over 200 coins. The authors analysed the digital assets from a variety of different perspectives, and using more than 30 attributes. When doing the analysis, researchers considered the supply concentration, distribution, market cap, governance, volume data, regulatory classification, and decentralized status of the coins.


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09 Jul

The advantages of using Bitcoin over fiat money

By Zachary Gruskin Bitcoin, Fiat money, Paper wallet, Satoshi Nakamoto Read Comments

Bitcoin was created in 2008 by the mysterious Satoshi Nakamoto. It is uncertain whether Satoshi was an actual person or a pseudonym for a group of people, and the true identity of Satoshi is unknown to this day. Satoshi wrote a famous paper describing the Bitcoin protocol ( https://bitcoin.org/bitcoin.pdf ) and then released Bitcoin's source in January 2009. Bitcoin began with the genesis block which Satoshi mined himself. After that point Bitcoin began to slowly spread, and by October 2009 the first Bitcoin exchange opened. A Bitcoin exchange is a place where you can buy/sell Bitcoin with fiat. Initially you could buy over 1300 Bitcoins for $1. The price of Bitcoin steadily increased as its use became more widespread, and currently each Bitcoin is worth $620. A famous story from the early days of Bitcoin is that someone bought a $25 pizza for 10,000 Bitcoins. The Bitcoins used to buy that single pizza are worth over $6 million today. Many early adopters of Bitcoin became millionaires, which undoubtedly increased Bitcoin's popularity further.

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