Response to discussion 2 Info tech Strat Plan

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The cryptocurrencies means it is digital money and processes the digital transactions by tokens and coins. These bit coins are continuously developing in the cryptocurrencies for the process of market capitalization, and has good user base and popularity. There is several types of cryptocurrencies are available like ethereum, ripple, litecoin, Libra, Montero, EOS and so on. Litecoin was introduced in the year 2011; it was among the cryptocurrencies to get follow the aspects of the bitcoin are referred as the silver to the bitcoins gold; it was developed by the Charlie lee and from the Google engineer. This litecoin is an open source global payment network and these are not accessed and controlled by the central authorities and script, these are decoded to give assistance to the consumer grade CPU’s (Stoyanovich & Tanz, 2019). Actually these litecoins are like bitcoin in multiple ways, it has effective and efficient blockchain rate so this offers the quick transactions to make confirm on the specific time, and the same time the developers are also increasing to accept the litecoin, the market rate of the like coin is about the 3 billion dollars in the cryptocurencies.

Ethereum, this is the initial bitcoin and this is the decentralized software platform, this is very helpful to make the smart contracts and maintains the decentralized applications to develop and run without having any downtime, issues and risks and also does not have any interference with the third party. The ethereum applications are on the specific platforms of the cryptographic tokens. The ether is acts as like the vehicle which is moving around the platform ethereum platform to develop and run the applications of the ethereum and investing on the digital currencies of with the ether. Coming to similarities between the litecoin and ethereum, both are a traded on the coin base, these coin base are works very similar manner to make the exchanges of the stock, make purchases from the seller at prices with the approximate of real time trading price (Waldo, 2019). These both are fast transactions, but the bitcoin is somehow slow, even it is faster than the traditional processes of bank transactions. Both process with the high speed and uses the multiple approaches to process the speed transactions.

References

Stoyanovich, M., & Tanz, F. E. (2019). Coming to Grips with Blockchain. Benefits Magazine, 56(5), 20-25. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=f5h&AN=135900272&site=eds-live

Waldo, J. (2019). A Hitchhiker’s Guide to the Blockchain Universe. Communications of the ACM, 62(3), 38–42. Retrieved from https://doi.org/10.1145/3303868