How Did Cryptocurrencies Rise to Such Impressive Heights?

By Market Trends

The cryptocurrency sector appeared somewhat unexpectedly but has ended up transforming finance as we know it. Its impressive rise in popularity has many asking how it has achieved so much, with coins such as Bitcoin and Ethereum achieving boundless success. A new meme coin, Big Eyes Coin, is entering the limelight after raising an astronomical $17.6 million in presale and another success story seems to be in the making. But how did cryptocurrencies rise to such meteoric success? Let’s have a look at three popular cryptocurrencies currently turning investors’ heads.

Bitcoin – The Crypto Revolution

Bitcoin is a digital currency that runs without central control or the need for banks or governments. A public ledger makes a note of each bitcoin transaction, allowing copies to be held on servers everywhere. Anyone with a computer at arms-reach can set up one of these servers, known as a node.

Each transaction is broadcasted publicly to the network and shared between nodes. After around ten minutes the transactions are collated by miners into a group dubbed a block and added to the blockchain forever more. This is the definitive account book of bitcoin.

Digital wallets hold digital currencies, similar to keeping traditional money in a physical wallet. These digital wallets can be accessed from a range of online tools. The reality is a bitcoin or a wallet does not necessarily exist but what does exist is the network agreement about the ownership of a coin. To prove ownership of funds, a private key is used for each transaction. This private key can work with sheer memorisation, meaning nothing else is even needed to access their digital cash. This is dubbed a “brain wallet”.

Bitcoins’ success lies in its impressive entrance to the market, starting an unprecedented financial revolution. Its success is not fleeting and the coin is likely to remain popular for years to come.

Ethereum Continues To Soar

Ethereum is an open-source cryptocurrency that allows smart contracts and decentralised applications (dApps) to be built and deployed without running into the risk of downtime, fraud, control, or interference from a third party. Ethereum uses its own programming language that runs on a blockchain.

Although Bitcoin holds its ground as the most popular cryptocurrency, Ethereum’s impressive growth has many predicting that it may be able to overtake Bitcoin. This is mostly due to Ethereum’s block time being significantly lower than Bitcoin’s: 12 seconds versus 10 minutes. This means Ethereum completes more block confirmations, allowing its miners to process more blocks and gather more Ether. Ethereum’s users believe its main triumph over Bitcoin is that it has more features than just money transfer. Companies such as JPMorgan Chase, Intel and Microsoft have already invested in Ethereum and its growth in the crypto industry is impressive, to say the least.

Big Eyes Coin – A Success Story In The Making

Big Eyes Coin (BIG) is a fresh-faced cat-themed meme coin set to run on the Ethereum network. The already popular coin has raised over $17.6 million despite only being in its presale and early investors can hardly wait for its launch. With an extensive list of exciting plans and features – including its own charity wallet – this meme coin is ready to break crypto records.

Big Eyes Coin utilises built-in DeFi functionalities to build value for its users and provide them with valuable services. The new token is set to benefit from the media presence meme coins already have and with its NFT club, dubbed Sushi Crew, the coin is impressing investors galore.

Big Eyes Coin currently has a new launch bonus offer, that early investors can join in by using the code LAUNCHBIGEYES200. This gives buyers an additional 200% bonus on their tokens.

Big Eyes Coin is transforming a dog-eat-dog world and allowing a cat to take center stage. Ethereum and Bitcoin are sterling examples of why early-stage investment is beneficial and Big Eyes Coin presale is a new opportunity for those searching for financial success.

Via: Analytics insight

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