We have gotten acquainted with the benefits of cryptocurrencies in our e-commerce web development in previous part 1. Let's now check the market of cryptocurrencies and their pros and cons in our present web e-commerce scenario.
Bitcoin
This is the first of all the implementation of the cryptocurrency in the market and enjoying the biggest share and reputation in the cryptocurrency market across the globe. In 2009 Satoshi Nakamoto has define and describe this specification. In simple words, Bitcoin is establishing a decentralized form of money using the latest cryptography technologies to control its creation and transactions.
The latest form of Bitcoin is generating through a competitive and decentralized process termed as €Mining' where it spend computing power to process secure transactions with a network where everyone is synchronized together. Some eye catching benefits of Bitcoin are:
Litecoin
However, it is based on Bitcoin protocol, it differs from the Bitcoin in respect to mined coins with consumer grade hardware. Litcoin offers the fastest transaction confirmation despite the huge network and use mining proof-of-work algorithm to target computers with GPU.
Peercoin
This cryptocurrency is nothing but a forked project from the Bitcoin where energy efficiency and security have paramount importance.
>Quark
When you intended to enhanced security Quark is the best answer in cryptocurrency world. As it uses nine (9) separate rounds of encryption along with six (6) algorithms, it offers the most secure ways of transaction and stability.
Worldcoin
The best choice for the everyday transactions for merchants and consumers is Worldcoin, as it accomplishes transaction confirmation within a minute or 60 seconds in other words. Its block generation on every 30 seconds support more transactions, without future modifications in software, and lose of performance.
Primecoin
This cryptocurrency is famous as opensource and working similarly to the Bitcoin in many aspects, except it is with non-hashcash proof-of-work algorithm. Just like Bitcoin it enables instant payment across the globe to anyone at anywhere. It peer-to-peer technologies like Bitcoin are offering decentralized authority and treats everyone equally.
If you strive to use any of such cryptocurrencies in your e-commerce payment system/method, let's have a brief virtual meeting with our e-commerce developers before finalizing anything in favor of you.
Bitcoin
This is the first of all the implementation of the cryptocurrency in the market and enjoying the biggest share and reputation in the cryptocurrency market across the globe. In 2009 Satoshi Nakamoto has define and describe this specification. In simple words, Bitcoin is establishing a decentralized form of money using the latest cryptography technologies to control its creation and transactions.
The latest form of Bitcoin is generating through a competitive and decentralized process termed as €Mining' where it spend computing power to process secure transactions with a network where everyone is synchronized together. Some eye catching benefits of Bitcoin are:
- Bitcoin has high cryptographic security that leads to transparent, efficient, and inexpensive transactions.
- Your transaction takes place without merchant account or any other personal info with no or little fees in some cases.
- You need to have wallet account to do Bitcoin transaction on the web so you can use any device with Internet access including smartphones.
- Transaction process is simple and quick as you need to have wallet address of recipient and that can be obtained through QR code scanning or just touching two devices together using NFC technologies.
Litecoin
However, it is based on Bitcoin protocol, it differs from the Bitcoin in respect to mined coins with consumer grade hardware. Litcoin offers the fastest transaction confirmation despite the huge network and use mining proof-of-work algorithm to target computers with GPU.
Peercoin
This cryptocurrency is nothing but a forked project from the Bitcoin where energy efficiency and security have paramount importance.
>Quark
When you intended to enhanced security Quark is the best answer in cryptocurrency world. As it uses nine (9) separate rounds of encryption along with six (6) algorithms, it offers the most secure ways of transaction and stability.
Worldcoin
The best choice for the everyday transactions for merchants and consumers is Worldcoin, as it accomplishes transaction confirmation within a minute or 60 seconds in other words. Its block generation on every 30 seconds support more transactions, without future modifications in software, and lose of performance.
Primecoin
This cryptocurrency is famous as opensource and working similarly to the Bitcoin in many aspects, except it is with non-hashcash proof-of-work algorithm. Just like Bitcoin it enables instant payment across the globe to anyone at anywhere. It peer-to-peer technologies like Bitcoin are offering decentralized authority and treats everyone equally.
If you strive to use any of such cryptocurrencies in your e-commerce payment system/method, let's have a brief virtual meeting with our e-commerce developers before finalizing anything in favor of you.
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