Digital currency is a new saying in recent years. Since everyone knows that digital currency is not a real currency, what types and characteristics does digital currency have?
Bitcoin, as the first blockchain application, was founded by Nakamoto in 2009 and is the undisputed leader of encrypted digital currency. The total amount is 21 million, the maximum block size is 1m, and the block extraction time is about 10 minutes. POW mining method is adopted, which has the characteristics of decentralization, worldwide circulation, security and concealment. As bitcoin is the first blockchain project, although the application cannot be built on it due to design considerations, many other digital currencies more or less learn from the design mode of bitcoin, so bitcoin is of great and extraordinary significance in the blockchain field!
Ethereum classic is actually the earliest Ethereum. Since 2016, the Dao was hacked to use the loophole of smart contract to transfer Ethereum with a market value of US $50 million. In order to recover investors' assets, Ethereum community finally voted. Most participants agreed to change Ethereum code to recover losses. Finally, the actual hard bifurcation was named etc and eth respectively. Etc can be considered as an old chain, but a considerable number of community supporters were unwilling to give up etc and insisted. Etc still insists on decentralization, irreversibility and free from third-party review. The total amount of ether classics is fixed in the range of about 210 million-230 million, with a deceleration of 20% per 5 million blocks.
Bitcoin cash is a hard bifurcated currency of bitcoin on August 1, 2017, with a total amount of 21 million. The block size supports up to 8m and does not contain segwit code. Its characteristics are basically the same as that of bitcoin. However, as a representative of large blocks, each block can accommodate more transactions, reducing the transaction congestion on BTC to a certain extent.