In today’s competitive world, the human mind has become eclectic to explore ways to get comfort on various perspectives by adapting new trends and innovations through technology perspective. The new transition that has taken place is a crypto currency which is a digital plus virtual currency that one can use in a variety of ways. However the most prominent use of it is in business in order to ensure that the transactions are transparent. To make you understand the perspective better, let me give you an example of Google Doc that allows two parties (whoever the documents shared with) to access to the same document at the same time. It is like a shared ledger.
Each crypto currencies have their most alluring nature that one can utilize it however s/he wants. The major benefits of the crypto currency is that it is not issued by any central authority and because of that it escapes interference of government and influence of hackers. The credit goes to Santoshi Nakamoto who introduced the perspective way back in 2009 especially in the era where information technology and data sciences that sprawled their legs already. At present there are 1563 and above crypto currencies traded world-wide. Let us talk about the most renowned crypto currency – Bitcoin (also it was the most sought item in Google search in the year 2017), broke $963.66 threshold in the beginning of 2017 (for the first time in 3 years) and reached its highest pick at $19758.20 as on 17th Dec. 2017. However, as on 12th April 2018 the prices of both – Bitcoin hovering at $6843.22, and that of Ethereum which stands at $423.19.
As per the valid source of CoinMarketCap (one of the valuable databases of crypto world), the market cap of all crypro currencies as on 12th April 2018 stands at $271,112,259,298. The major crypto currencies traded are ranging from Bitcoin to Ethereum, Riple, Litecoin, EOS, Steller, NEO, Monero, Dash, Tron, Teather among others. As on 12th April 2018, Bitcoin alone has market cap stands at $116,181,704,178 and Ethereum market cap stands at $41,804,769,609 according to the valid source of Coin Market Cap.
Most businesses in the world that solve real world problems in a cost effective manner use block chain technology to organize transactions transparent, as the mechanism of block chain brings the highest degree of accountability and transparency with no human error or machine error sought.
At last, the crypto currency market still has a long way to go. Let us not forget that the block chain technology will change the dynamics of the entire world.