Crypto Descriptions for Beginners
Hello, fellow Steemers!
I'm new to the Steemit community, but I have been working on creating short, simple, easy-to-understand descriptions for top cryptocurrencies. If you have any suggestions or edits, please provide feedback and I'll edit the descriptions. Let's start with the top 20, shall we? The goal is to keep the descriptions short and sweet. Just like you.
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1. Bitcoin (BTC)
Created in 2008, Bitcoin was the very first cryptocurrency. Bitcoin is community-managed and decentralized, which means it eliminates the middleman and transactions can happen directly (peer-to-peer). This allows you to exchange money without going through a bank.
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2. Ethereum (ETH)
Ethereum is a decentralized, distributed public blockchain network. You can create and run smart contracts with programmable applications. Highlights include: Turing-complete software (Ethereum Virtual Machine), zero downtime for applications, immutability, a censorship-proof network, and security.
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3. Ripple (XRP)
Ripple is a blockchain system that moves money quickly and dependably. Ripple was created for banks, payment providers, digital asset exchanges, and other companies.
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4. Litecoin (LTC)
Litecoin is nearly identical to Bitcoin as a peer-to-peer, decentralized network, but is designed to be less expensive and to have faster transactions (generating new blocks every 2.5 minutes).
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5. Bitcoin Cash (BCH)
Bitcoin Cash is a hard fork of Bitcoin. The fork was brought on by a debate over the scalability of digital currencies, which led to the creation of a new blockchain.
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6. Cardano (ADA)
Cardano is a security-focused, open-source blockchain for decentralized applications and smart contracts. Cardano is driven by peer-based research, and runs the Ada cryptocurrency.
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7. Ethereum Classic (ETC)
An Ethereum fork, created because of a difference of ideologies in the community over the DAO hard fork. Ethereum Classic is a decentralized, distributed public blockchain network that allows you to create and run smart contracts.
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8. Stellar (XLM)
Stellar is a nonprofit organization that’s building an open-source platform with accessible financial services for people with all levels of income. Stellar is working with banks to make money transfers possible via text message.
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9. NEO (NEO)
Based on Ethereum, NEO (formerly AntShares) is China’s first blockchain platform. The platform focuses on building smart contracts and digital identity.
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10. IOTA (MIOTA)
IOTA is a decentralized cryptocurrency that has no blocks, chains, or miners, and offers free, real-time micro-transactions. IOTA features fast transaction rates and future technology that will make transactions possible sans human involvement.
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11. Monero (XMR)
Monero is an open-sourced cryptocurrency with a primary focus on anonymity and private, secure transactions. Monero is untraceable, which means accounts and transactions are hidden from everyone but the person making the transaction.
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12. Dash (DASH)
Dash is an open-source, peer-to-peer digital money system aiming to be the go-to digital cash for the internet. Dash is designed for private, fast, and secure transactions.
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13. NEM (XEM)
NEM is a peer-to-peer cryptocurrency that offers pre-made tools for developers and businesses that want to build/connect smart contract applications to the blockchain.
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14. Qtum (QTUM)
Qtum is an open-sourced, business-friendly blockchain project that is building a hybrid of Ethereum and Bitcoin. Qtum is designed for business smart contracts, and is competing with Ethereum to become a platform for decentralized apps.
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15. Lisk (LSK)
Lisk is an early-stage platform for developers to create their own blockchains and Javascript smart contract applications. Lisk is based on the Crypti code.
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16. Nano (NANO)
Nano, formerly RaiBlocks, is a low-latency cryptocurrency with block-lattice technology (each new account has its own blockchain). Key features of Nano include fast transactions, zero fees, and infinite scalability.
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17. Bitcoin Gold (BTG)
Created because of community disagreements, Bitcoin Gold is a fork of Bitcoin focusing on handling high volumes of transactions differently. Bitcoin Gold blocks ASIC mining, providing fair opportunities for ordinary users to mine with GPUs.
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18. ZCash (ZEC)
Zcash is an open-sourced, decentralized cryptocurrency that focuses on private transactions (hiding the sender, recipient, and value of transactions). Users are provided with the option of making a transaction public (for auditing) after-the-fact.
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19. Steem (STEEM)
Steemit is a Reddit-like social sharing platform that allows content creators and curators to monetize their posts, and gives publishers the opportunity to incentivize user engagement.
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20. Stratis (STRAT)
Stratis is a blockchain-as-a-service provider, or a platform for making (C#) smart contracts, and is also a consultant agency for blockchain management.
This was so lovely to read. Thank you for opening yourself up to the world 😊
Love it & looking forward to more.
Welcome to the best community online.
If you would be interested to interact with a group of like minded people as yourself then feel free to join our discord server.
You can also share a link of this introduction in our #introduce-yourself or #Post-promotion channels.
We are dynamic steemians & You can join us here :)
https://discord.gg/CZNYq2t
Thank you so much @elsiekjay! Looking forward to checking out the Discord community. Happy Steeming!
You are very much welcome :)
Be sure to introduce yourself in the introduction section if you haven't already :)
Welcome to Steemit from Indonesia, this is an amazing platform for creativity and imagination. Share, comment and make friends
Thanks for the warm welcome, @lopezdacruz :)
Welcome to Steemit roboticarrow. Let me know if you got any questions about Steem or anything related to it! The official FAQ can be found here and has A LOT of information https://steemit.com/faq.html - Also remember, Steemit is just ONE of the sites built that uses Steem the blockchain. We also have DTube - our very own Youtube, DSound for Soundcloud and Steepshot if you prefer Instagram like experience. I'd also like to mention ChainBB - forums, Busy - Steemit with more modern look basically, DMania for memes and Dlive for streaming just like in Twitch! Welcome to the blockchain
Awesome, thanks for the information! Super helpful @janne. Cheers!
Congratulations @roboticarrow, you have decided to take the next big step with your first post! The Steem Network Team wishes you a great time among this awesome community.
The proven road to boost your personal success in this amazing Steem Network
Do you already know that awesome content will get great profits by following these simple steps that have been worked out by experts?
Welcome to steemit, looks like i'm one of the first people here to welcome you! I like to upvote new users when they make new content so follow me if you want me to check out blogs that you post. I make funny videos on my page and look foward to view the content you will be posting. See you around! #Iupvoted
Thanks for the warm welcome, @truce! I'll check out your page! :)
"my friend welcome to this platform,Steemit is a blockchain site that is meant for both Bloggers and investor.
Being an investor you can trade on steemchurch or steemdollar ,but as a blogger you can kick start your steemit account and start earning without having any form of currency in it.what is needed is just your creativity and ability to compose unique articles for your readers"
Thanks for the information, @nicholasmwanje! If you have any more feedback for how to improve these descriptions, please let me know 😊
Hi
Thank you for #introducingyoursef.
I noticed that we both share similar passion towards cryptocurrencies and blockchain technology :)
Im myself quite new in steemit community but I realized that there are few things you could do to have a better start:
Mostly I invested a little bit in STEEM in order to purchase STEEM POWER and STEEM DOLLARS. Why? It's simply important. Without initial investment it will be very hard for you to build reach here and be noticed.
Im not sure if you ever heard about this site: http://steemd.com/@your_username
Example: https://steemd.com/@example
Perhaps you know it already :)
If you will reply to this message (that would allow me to believe that we may develop mutual engagement and help each other) then I will follow you and upvote some of your future posts.
Cheers and good luck, Piotr
Thanks for the advice, Piotr! I'll take a look at your posts crypTonight. 😋
Thx for your reply :) I really appreciate.
Just like I promissed: I will follow you now and I hope to see more good content on your profile.
Also it's worth to have a look at those 2 usefull tools: https://steemstats.com and http://steemvoter.com
Im not sure if you ever knew those two. If not then check them out.
If you would ever have any questions or simply would like to keep in touch then please dont hestitate to write to me. My email: [email protected]
I will be more than happy to share/exchange my knowledge and experience (of course within my limited time)
And believe me, it's really hard to start without powering up your account on steemit. It's pretty much first thing you need to do if you're thinking about building reach here.
Cheers,
I almost forgot:
Let me give you small advise. Keep your upvoting power as close to 100% and upvote posts max 10 times a day (so your upvoting power would regenerate to 100% within entire day). Dont upvote your own comments. Upvoting comments in general isn't the best idea.
Upvote mostly posts and also dont upvote if post is older than 7 days (in that case your upvote is meaningless). Self-upvoting is considered "acceptable" by biggest part of community. Especially if you're just at the beginning of your journey here.
Remember: EVERY UPVOTE COUNTS
I also mentioned that to have a better start it's quite necessary to invest and buy some STEEM (and convert it to steem power).
Number of times I encountered question: "how much should I invest".
This it's really hard to tell. I bought 600usd worth of STEEM and I used 90% to power up my account (steem power) and 10% I used to keep steem dollars (having them may be usefull). Some people invested so much more. I invested amount that I could invest without feeling very stressed out. Which I also recommend.
I think 100-200$ should do for a start so you could actually monitor results of your activity here.
Look, if you would ever have any questions then just contact me via email: [email protected] or find me here @crypto.piotr
I believe that working together can benefit all of us :)
Yours, Piotr
Welcome to Steemit @roboticarrow!
I wish you much success and hope you find Steemit to be as rewarding and informative as I have.
Yes, I love Crpto too! Lots of detailed analysis on my blog along with some predictions
Here are some links you might find useful.
Your stats on SteemNow
Your stats on SteemWorld
Your stats on SteemD
How to use Minnow Booster
How does Steemit actually work?
Introbot is hosted and managed with donations from @byColeman to help make your journey on Steemit be truly rewarding. Your feedback is always welcome so that we may improve this welcome message.
Oh yea, I have upvoted you and followed you. Many blessings from @introbot & @bycoleman
One more thing just crossed my mind a moment ago.
Im assuming that you're new here and i would like you to understand that steemit is quite full of spam. Luckily steemit community related to blockchain technology and cryptocurrencies seem to be quite mature.
You will realize that there is many people out there who are trying to help newcomers or simple promote themselfs by sharing their knowledge and experience. I strongly support what they do and I myself decided to spent few minutes a day looking for new members of this society that are having similar interests and if they content is valuable then Im trying to build some engagement.
This is still quite new platform and it's up to us to shape our little community.
One more time, welcome on steemit and I wish you all the best!
Yours,
Piotr
Yeah I can already see how spammy it is! I'm just looking to share information and help like-minded individuals (or people who want to understand cryptocurrencies better). Thank you so much for reaching out, I sincerely appreciate your honesty! Happy to engage with you, and look forward to reading your future posts. :)
Thx for your reply :) I really appreciate.
Just like I promissed: I will follow you now and I hope to see more good content on your profile.
Also it's worth to have a look at those 2 usefull tools: https://steemstats.com and http://steemvoter.com
Im not sure if you ever knew those two. If not then check them out.
If you would ever have any questions or simply would like to keep in touch then please dont hestitate to write to me. My email: [email protected]
I will be more than happy to share/exchange my knowledge and experience (of course within my limited time)
And believe me, it's really hard to start without powering up your account on steemit. It's pretty much first thing you need to do if you're thinking about building reach here.
Cheers,
Thx for your reply :) I really appreciate.
Just like I promissed: I will follow you now and I hope to see more good content on your profile.
Also it's worth to have a look at those 2 usefull tools: https://steemstats.com and http://steemvoter.com
Im not sure if you ever knew those two. If not then check them out.
If you would ever have any questions or simply would like to keep in touch then please dont hestitate to write to me. My email: [email protected]
I will be more than happy to share/exchange my knowledge and experience (of course within my limited time)
And believe me, it's really hard to start without powering up your account on steemit. It's pretty much first thing you need to do if you're thinking about building reach here.
Cheers,
Anyway that's a really good post. I actually saved it in my favourites. Thx