Cryptocurrency transactions can be made easily and quickly at a low cost based on cryptography. Let’s review the top cryptocurrencies to invest in 2022.
Overview
What is cryptocurrency? A cryptocurrency, crypto-currency, or crypto is a digital money or virtual currency that takes the form of tokens or coins. It is secured by cryptographic techniques, which makes it almost impossible to counterfeit money or double-spend. Many cryptocurrencies exist on a distributed and decentralized networks based on blockchain technology. An important feature of cryptocurrencies is that they generally don’t have a central monetary or regulating authority, rendering them theoretically immune to government controll or manipulation.
The field of cryptocurrencies has expanded dramatically since Bitcoin the king of cryptocurrencies was launched in 2009, and the next great digital currency may be released tomorrow. In terms of governance, being open source is considered completely wrong to the idea of a centralized management. That’s why decentralized cryptocurrencies are almost open source.
With all five of these below cryptocurrencies being open source, there are constant developments in the frameworks and protocols that form the cryptocurrency software. The cryptocurrency grows stronger and stronger as the poor ideas are tested out and filtered out. All the scaling and security issues for these cryptocurrencies need to be solved and it is a good thing that these cryptocurrencies are open source. These allow developers to start with crypto to participate in making each coin or token great to reach mass adoption.
In this blog article, we will get familiar with the most popular open source cryptocurrencies examples of 2022.
- Bitcoin
- Ccxt
- Freqtrade
- Litecoin
- Monero
- Conclusion
1. Bitcoin
- Number of contributors: 851
- Top contributor: MarcoFalke | @MarcoFalke
- Primary language: C++
- Number of stars: 61.4k
- Number of Forks: 31.4k
Bitcoin is the most popular and valuable cryptocurrency. Satoshi Nakamoto invented the first block-chain of Bitcoin and introduced it to the world via a white paper for the digital currency. It remains the most widely traded and covered cryptocurrency in the market today. European Union and Japan’s Payment Services Act define Bitcoin as legal property. The worlds biggest Online marketplaces called “bitcoin exchanges” allow people to buy, sell, transfer and store bitcoins using different currencies.
Bitcoin is a digital currency with a decentralized system that records transactions in a distributed ledger called blockchain. Bitcoin uses peer-to-peer technology to buy, sell and exchange directly without any central authority or banks to facilitate instant payments. It enables instant payments to anyone, anywhere in the world for managing transactions and the issuing of bitcoins.
What was the first cryptocurrency? Bitcoin was the first cryptocurrency available to the public in 2009. There are thousands of cryptocurrencies present in the market today but Bitcoin is a the best-known decentralized digital currency that records transactions in a distributed ledger called a blockchain. Bitcoin Core is the name of open source software that decides which block chain contains valid transactions. Bitcoin Core community-driven free software project is released under the MIT license.
2. Ccxt
- Number of contributors: 531
- Top contributor: Igor Kroitor | igor.kroitor.com
- Primary languages: JavaScript
- Number of stars: 23k
- Number of Forks: 5.7k
Ccxt (CryptoCurrency eXchange Trading) library and e-commerce supports many bitcoin/ether/altcoin exchange markets and merchant APIs. This library is best crypto to buy for beginners to connect and trade with cryptocurrency exchanges and payment processing services with support for more than 100 bitcoin/altcoin exchanges or exchange classes worldwide.
The CCXT is the most popular open source crypto data integration system and open-source trading library. It is intended to be used by coders, developers, technically-skilled traders and works in Node 10.4+, Python 3, PHP 5.4+, and web browsers. The CCXT library is free for any developer to build commercial and open source software on top of it and it is released under MIT license.
3. Freqtrade
- Number of contributors: 197
- Top contributor: Matthias | https://blog.xmatthias.com/
- Primary language: Python
- Number of stars: 15.6k
- Number of Forks: 3.3k
Freqtrade is a free and open source crypto trading bot written in Python (3.7+), started in 2017. This Freqtrade bot is completely free and distributed publicly by the general community. It is also designed to support all major exchanges. It can be easily controlled via a Telegram bot.
Freqtrade crypto-currency algorithmic trading software contains backtesting and money management tools as well as strategy optimization by machine learning. It supports strategy customization and you can create your own strategies. It is supported on Windows, macOS, Linux and by many popular exchange marketplaces like Binance, Bittrex, FTX, Kraken etc.
4. Litecoin
- Number of contributors: 23
- Top contributor: kallewoof | @kallewoof
- Primary language: C++
- Number of stars: 4k
- Number of Forks: 31.4k
Litecoin (LTC) is a cryptocurrency that was founded in October 2011, two years after Bitcoin, by a former Google employee named Charles Charlie Lee. Litecoin is a peer-to-peer (P2P) cryptocurrency and it is not governed by a central authority. Litecoin is an early bitcoin or altcoin and it is nearly identical to Bitcoin crypto. LTC is the native cryptocurrency blockchain project code is copied from Bitcoin.
Litecoins are generated faster than Bitcoin but Bitcoins are worth more. Bitcoin might be better if you want more value per coin, while Litecoin might be better if you want more coins at a lesser price. It offers instant, complete cryptocurrency transactions quickly, transfer funds and cheaply that can be conducted by people around the world. Litecoin peer-to-peer virtual currency open-source software project is released under the MIT/X11 license.
5. Monero
- Number of contributors: 252
- Top contributor: moneromooo-monero | @MoneroMoon
- Primary language: C++
- Number of stars: 6.6k
- Number of Forks: 3.2k
Monero (XMR) is an open-source and completely free to use fast, secure, private, untraceable decentralised digital cryptocurrency. You control your funds, and nobody can trace your money transfers. There is no restrictions for creating an alternative implementation of Monero that uses the protocol and network in a compatible manner. Monero is considered more of a privacy token and was introduced in 2014 on the Bitcointalk form.
Monero privacy-oriented cryptocurrency uses a cryptographic system to allow you to send and receive funds. Monero is among the first cryptocurrencies to feature cryptography. Monero digital currency is focused on privacy and its transactions on the blockchain can’t be tracked or traced. This ensures that your purchases, receipts, and fund transfers remain private by default.
Conclusion:
The above mentioned five cryptocurrencies projects are the most popular free and best open source software for traders. Many cryptocurrencies today are derived in some form or another from Bitcoin. Despite hundreds of competitors that have evolved, Bitcoin is the first cryptocurrency that remains the dominant in terms of usage and economic value.
What is the best crypto to buy right now? Investing in cryptocurrency open source projects and other initial coin offerings is highly risky. Moreover, this article is not a recommendation by the writer to invest in cryptocurrencies or other initial coin offerings (ICOs). Because each individual’s situation is different and a qualified professional should always be consulted before making any profitable financial decision. containerize.com makes no representations or warranties as to the accuracy or timeliness of the information contained herein.
What are your favorite cryptocurrency open source projects?. Do you have any questions about what is digital currency?, Please get in touch.
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