Three options for crypto-entrepreneurship: Bitcoin, Ethereum and Arian

One of the most attractive altcoin projects because of its difference regarding mining usability is Arian, the first blockchain based on the Proof of Achievement(PoAch) protocol

What are the differences

You may have wondered what is the difference between so many cryptocurrencies. We find a lot of information in the network about each of these, their characteristics, advantages and disadvantages, however, these explanations may not solve all your concerns.

We want to be clear in this aspect by making a comparison between three cryptocurrencies, each with a different consensus protocol, so that you can determine the benefits, advantages, and disadvantages of each of them on your own when making your entrepreneurship choice in the cryptographic industry.

Bitcoin, the genesis of digital currencies

We will begin with a short explanation about each of them, starting with the most known and popular one, Bitcoin.

Bitcoin is the first totally-decentralized cryptocurrency, introduced to the public in 2009 by a person or group of people under the pseudonym Satoshi Nakamoto.

Bitcoin uses open-source software code, any programmer can access it. However, although programmers introduce software updates all the time, they can’t force changes into the protocol since all must remain compatible to work. Which means that Bitcoin can only work properly as long as there is a consensus among users.

In this feature lies what motivates users and programmers to avoid alterations in the code. And despite that, Bitcoin is a mobile or desktop app for the users that provides a personal Wallet and allows them to send and receive bitcoins quickly and easily. For programmers, it’s an activity that involves the maintenance of sophisticated public accounting through the Blockchain network.

The software behind Bitcoin is a shared database that functions as a ledger for the registration of purchase/sale operations or any other transaction, which contains each processed transaction, making it easier to verify its validity. The authenticity is protected by digital signatures that correspond to the shipping addresses, allowing users to control the issuance of bitcoins from their electronic wallets to their destination. For this activity, programmers are needed to process transactions and receive rewards in bitcoins for their service.

Mining Bitcoin, or generating Bitcoin cryptocurrencies, is performed based on a consensus protocol known as Proof of Work (PoW), which establishes the procedure that a miner must perform to achieve the validation or generation of the block, for which the reward is received (bitcoin). In this protocol, the miner must perform some type of work, which has some difficulty (in this case the resolution of a mathematical calculation), and which is easily verified by the server, which is carried out by means of a computer calculation, in order to avoid unwanted behavior (denial of service, attacks or spam). A process that affects the security and confidence of the blockchain.

Bitcoin has gained prestige in the cyberspace thanks to its efficiency, security, and ease of exchange.

In terms of its movement in the cryptocurrency market, Bitcoin is subject to the laws of supply and demand, raising or decreasing its value based on the bitcoins being available or not in the market. Bitcoin has a currency issue limit of 21 million bitcoins by 2040.

Ethereum, the mother of many other altcoins

We continue with what is so far the second most relevant currency in the market, Ethereum.

Ethereum is a blockchain platform that functions as a Blockchain or Distributed Accounting Technology, designed to allow other projects to execute smart contract protocols for the execution of a given task, if certain agreed conditions are met.

The token of Ethereum (ETH) works as an incentive mechanism. It has gained a serious increase, much faster than bitcoin, and is being used more and more.

Many compare Ethereum and Bitcoin, similar in their aspects as cryptocurrencies, but they are very different projects and with different purposes—although compatible, they are not replaceable. This is because while Bitcoin operates as a relatively-stable digital currency, Ehtereum’s platform goes way beyond, developing functions like the construction of organizations, new tokens, decentralized apps and smart contracts.  

The Proof of Stake (PoS) is the distributed consensus protocol of Ethereum designed for distributed networks to secure a cryptocurrency’s network, which works with the probability of finding a transactions block and receiving the corresponding reward, through the request of proof of cryptocurrency possession.

The difference with the PoW is that it is based on the assumption that those who have more units of a cryptocurrency based on the PoS are especially interested in the survival and good functioning of the network that grants value to such currencies. 

That is, the functioning of a network with PoS works by assigning the higher probability of winning the sorting to those who are more active in the network. That’s why there aren’t people competing to validate the block and thus, in general, there’s no reward for whoever gets it either.

Altcoins and derived protocols

After Bitcoin and Ethereum, a large number of alternative cryptocurrencies has emerged, known as Altcoins, many are developed based on Ethereum’s blockchain and operate with its consensus algorithm, or any other developed deriving from it or the PoW (Proof of Authority PoA, Proof of Activity, Proof of Burn PoB, Proof of Capacity PoC, Proof of Game PoP, Proof of Importance PoI), totally different protocols that pretend to eliminate the hardships of cryptocurrency mining that the original protocols present. 

Arian, a promising project

After Bitcoin and Ethereum, a large number of alternative cryptocurrencies has emerged, known as Altcoins. Many are developed based on theEthereumblockchain and operate with its consensus algorithmor any other developed deriving from it or the PoW.

The Proof of Achievement protocol presents as an innovative mechanism a human-machine symbiosis for the validation of the blockchain’s blocks, working hand in hand with a new and improved advanced encrypting algorithm that secures the protocol.

Arian Coin (ARIAN) is the cryptocurrency of the Arian blockchain, considered to be the real smart mining pioneer, as it really is the cryptocurrency that stands out notably from others in the market. It’s efficient from the energetic point of view, which achieves based on its new Smart Interactive Mining concept. It’s decentralized as it does not depend on cooperation works, pools or farms.

Arian Coin left aside failed proposals based on the Proof of Play (PoP) that ended up being mere experiments. Its security is one of its most notable features, thanks to the encrypting algorithm shield, the AES-256. Due to its features, Arian Coin can be mined in multiple ways and with real human work. It is definitely the all-changing cryptocurrency.

Being more clear regarding these three cryptocurrencies, its advantages and disadvantages and the easiness or difficulty of their mining processes will certainly make it easier for you to make decisions about the best entrepreneurship project within the crypto-ecosystem.

You can start benefiting today from this new project. Start mining right now, download the Interactive Node and be part of this crypto-community! You can become an Arianminer by just clicking on here

We are interested in knowing your opinion, so leave your comments and subscribe to our website to keep receiving updated information of the crypto-ecosystem.

Previous articleNext article

Leave a Reply

Your email address will not be published. Required fields are marked *