7: My Homework on How To Invest in Cryptocurrencies - A beginners Guide - Part 2 | For Professor @besticofinder | Steemit Crypto Academy | Lesson 7 | by @preye2
Hello Friends,
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It is true that crypto currencies can be very hard and risky to just predict and invest, that is the more reason I am grateful to the wonderful professor @besticofinder for taking his time and preparing such an interesting and amazing lecture for us his students (How To Invest in Cryptocurrencies).
So far I have posted my homework tasks on this community especially on professor @besticofinder lecture, but they usually ignore it and they won't even review it until it expires, which is really painful, because of my time which has been wasted. But I hope to see changes, and soon too.
select two crypto currencies and do a fundamental analysis comparing each other. When selecting the two crypto currencies try to compare two currencies which are competitors to each other ( Optional) Compare the factors we discussed in lecture 6 and this lecture 7 decide which will be the best investment option.
Let's talk about two different Crypto currencies which includes:
- Dash and
- Litecoin
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Let me start by telling you a little history about Dash (DASH) and Litecoin (LTC), and by saying that I prefer you invest on Litecoin than investing on Dash, because of the following points. But before I continue, Know a little about the two crypto currencies.
Dash (DASH):
Dash was originally released as XCoin in January 2014, and the month after got renamed as the Darkcoin. In March 2015, it got rebranded as Dash advocating itself as the peer to peer privacy-based, decentralized electronic cash.
Litecoin (LTC):
Litecoin was created in 2011 by Charlie Lee and advocated itself as the peer-to-peer digital currency enabling near-zero, instant cash payments to anyone across the world.
Some Major Difference between the two two Crypto currencies includes:
1. Privacy
Litecoin is not associated with privacy, is completely transparent with its transactions, the amount being sent or received is publicly viewable.
While
Dash is known as a privacy coin, which makes your transactions private and not publicly accessible. It mixes the user’s transaction with other transactions, wherein a server called “masternode” enables to expedite the mixing process.
Hash Algorithm
Litecoin uses the Scrypt hash algorithm, which was specifically designed to perform large-scale custom hardware attacks by needing large amounts of data
While
Dash uses a chained hash algorithm known as X11, used for Proof of Work (PoW) calculations. Chained algorithms make Dash mining easier than other cryptocurrencies. For instance, GPUs require 30% less electrical energy than Litecoin and even heated 30% to 50% lesser.
Transaction Speed and Transaction Fee
Litecoin can handle around 56 transactions per second, and the transaction fee for LTC is 0.001 LTC. Litecoin can decrease its transaction fee and increase its speed with the help of the lightning network, which enables instant transactions with the lowest fee.
While
Dash is ahead in terms of the transaction speed because of InstantSend, which enables the users to send payments for confirmation in less than a second. As per some of the developers, the transfer fees of Dash enables more use cases of this crypto.
Prices
Currently, Litecoin is trading at $183 in some crypto wallets like roqqu, with a market capitalization of around $12.25 billion and a circulating supply of around $2.83 billion LTC.
While
Dash, on the other hand, is trading at around $200 with a market capitalization of around $2.02 billion and a circulating supply of around $512.78 million DASH.
CONCLUSION
There is no doubt that Dash and Litecoin have been created for specific purposes. Both of them are unique and have the potential for massive growth.
Nevertheless, a very important difference is that Dash is a privacy coin, and Litecoin isn’t. Thou Dash is higher than litecoin for now, but looking from the changes and observations so far is better to invest in Litecoin.
Special thanks to: