mukhopadhyay et al ., 2016 ). ethereum W r i t i n g

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• Ask an interesting, thoughtful question pertaining to the topic
• Answer a question (in detail) posted by another student or the instructor
• Provide extensive additional information on the topic
• Explain, define, or analyze the topic in detail
• Share an applicable personal experience
• Provide an outside source (for example, an article from the UC Library) that applies to the topic, along with additional information about the topic or the source (please cite properly in APA)
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Discussion 1:

Discussion – Blockchain and Cryptocurrency

Blockchain technology is essentially a database that holds information in a structured format called blocks. Each block has data and is linked with other blocks forming a chain of data about digital assets. It is nowadays used as a form of distributed ledger that gives access to users for tracking transactions related to cryptocurrency. A major advantage of blockchain technology is its integrity even with its public access making it very trustworthy for users who want to verify their transactions (Mukhopadhyay et al., 2016).

Ethereum has a been a very popular cryptocurrency and is the next largest to Bitcoin in terms of market capitalization. It has a very well-maintained software platform that is also decentralized making it easy to access to any of its users (Wood, 2014). One very common application that is based on Ethereum is called EtherTweet that is essentially a communication platform for users utilizing this blockchain technology (Pollock, 2017). Ripple on the other hand is more of a currency exchange system which uses digital tokens known as XRP. It was designed to have an easy and secure means for financial transactions between any two parties with minimal overhead in terms of price or data. RippleNet is one of its applications that uses blockchain technology to verify and validate payments and transactions in a decentralized fashion (Ripple, 2020).

One of the major similarities between these two cryptocurrencies is that they both heavily utilize blockchain technology for all their applications. As Ethereum focuses more on smart contract functionality it provides a very secure protocol for transactions. Ripple (XRP) on the other hand is moving towards the financial industry with an objective of providing fast transactions with much better performance than any other transaction system (Laura, 2021).

Personally, I have had a fair share of experience of investing in cryptocurrency where I originally invested in the lesser expensive options like Litecoin and Tether. I later realized that this is a very volatile market with almost no guarantee, so I decided to cash out on all my investments.

References

Laura, M. (2021). Ripple vs Ethereum: Learn What’s The Better Alternative? BitDegree.org Crypto Exchanges. https:// class=”Collab”>Mukhopadhyay, U., Skjellum, A., Hambolu, O., Oakley, J., Yu, L., & Brooks, R. (2016). A brief survey of Cryptocurrency systems. 2016 14th Annual Conference on Privacy, Security and Trust (PST), 745–752. https://doi.org/10.1109/pst.2016.7906988

Pollock, D. (2017, July 17). Five Best Experimental Ethereum-based Apps. Cointelegraph. https://cointelegraph.com/news/five-best-experimental-ethereum-based-apps.

Ripple. (2020). RippleNet: The Financial Network of the Future. https://ripple.com/ripplenet.

Wood, G. (2014). Ethereum: A secure decentralised generalised transaction ledger. Ethereum project yellow paper, 151(2014), 1-32.

Discussion 2:

Cryptocurrency is a digital currency, with strong security to maintain the user’s security. Some of the main cryptocurrencies available today are: Bitcoin, Litecoin, Dogecoin, Neo, Ethereum, Ripple, Stellar etc.

Ripple (XRP):

Starting in 2012. It has a delivery pace of 1 Billion every month with near 1500 exchanges happening each second. It was intended to be utilized by banks for monetary exchanges as a brought together exchange organization. XRP cash is utilized in Ripple, the cash is first changed over to XRP tokens and afterward sent over the RippleNet. It is again changed over back to cash from the XRP token when pulling out is finished.

The square season of Ripple is close to moment as it was intended to be quicker than other cryptographic forms of money. The wave is a digital currency that underpins the RippleNet installment organization, utilized by significant banks and monetary foundations, including Santander and American Express. Wave works uniquely in contrast to other digital currencies, so a few voices have scrutinized its way of life as a really decentralized cryptographic money.

Stellar (XLM):

Dispatched in 2014 by the fellow benefactor of Ripple. Heavenly is the installment network which works like RippleNet and the cryptographic money is Lumens (XLM). The principle similitude with Ripple is that, Stellar XLM was likewise intended for quick and proficient monetary exchanges. It utilizes Stellar Network. The greatest stockpile of Ripple is 100billion which is pre-mined, but Stellar doesn’t have a furthest cutoff to the most extreme inventory yet. It has just about 1000 exchanges happening each second and the delivery rate is upto 1% swelling every year. It is a touch slower than Ripple as the Block time is 5 seconds yet quicker than numerous other cryptographic forms of money.

EOS (EOS):

EOS is the EOS digital money. IO, a blockchain stage that recreates the critical usefulness of a PC’s equipment and working framework. Gives designer apparatuses and administrations to planned applications, including client accounts, confirmation frameworks, and information bases. Duties regarding handling and different activities are conveyed across the organization, whose fashioners contend that you can expand your exchanges to millions every second later.

Coinbase for crypto trading multiple times to buy advanced cash (XRP, BTC, or any new dispatched computerized cash) and sold them when their rates had extended to make some profit. There are various crypto-trading destinations where you can enroll and purchase advanced cash using Visa/charge card/paypal, etc. The whole you pay is transported off your record wallet, you can use that amount to buy the cryptographic cash from those stages. Exactly when you buy the computerized money, it will show up in your record wallet. Exactly when the expense of the advanced cash augmentations and you need to sell, you can do it direct by tapping on the sell button near the cryptographic cash you need to sell ,in the wake of selling you will get the equivalent USD in your record wallet which can be recuperated to your paypal or bank. As the cost changes continually, there is reliably a chance that the value will drop and you may free money, so you ought to reliably mind the worth fluctuation and pick the ideal opportunity to sell the advanced cash.

References:

Blockchain and Crypto Currency. (2020). Springer Singapore.

Cheung, R. (2015). Crypto-currency bubbles: an application of the Phillips-Shi-Yu (2013) methodology on Mt. Gox bitcoin prices. Applied Economics, 47(23), 2348–2358. https://doi.org/10.1080/00036846.2015.1005827

Smith, K. (2018). CRYPTO‐CURRENCIES – AN INTRODUCTION TO NOT‐SO‐FUNNY MONEYS. Journal of Economic Surveys, 32(5), 1531–1559. https://doi.org/10.1111/joes.12289

S Kumar, A. (2019). Co-movement in crypto-currency markets: evidences from wavelet analysis. Financial Innovation (Heidelberg), 5(1), 1–17. https://doi.org/10.1186/s40854-019-0143-3