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2.6 Market Trends
Zenith Coin (ZENITH) will leverage on the acceptance of cryptocurrencies. The Zenith Chain will offer better security and privacy than most public blockchains, and the chain data will be accessible to the public. Transactions using blockchain- enabled cryptocurrencies may have unprecedented security and anonymity, but that does not make them untraceable. Today there are companies specialized in the art of tracking down 20 suspicious activities on blockchains to prevent people from using blockchain technology for nefarious activities.
Bitcoin started the demand for cryptocurrencies, and it has become the de facto standard for digital currencies. It would seem that the other cryptocurrencies, called altcoins, are altered versions of Bitcoin but with the same principle. Its growth is spurred by the need for a decentralized digital currency that can’t be controlled by governments as it is operated on revolutionary blockchain technology. As a result, the value of bitcoin is increasing exponentially, and it has had a meteoric rise from its value of $0.39 in 2010 to its value of $7,319 in November 2017.
Ethereum can be referred to as the blockchain computer that provides secure interfaces to developers on its platform. It functions as a programmable blockchain primarily for developers and merchants. It is these features that set it aside from Bitcoin.
The operations are on the digitally encrypted blockchain technology. So developers and merchants can harness its benefits, such as not being censored, altered, or modified without the permission of the developer. Ethereum has its currency token called Ether, which can be used to pay for fees on the Ethereum network. Ethereum is the second most valuable digital currency today as it presently has a market capitalization of $41.4 billion.
Litecoin is the third most valuable digital currency in the world. Its technology is based on an open-source global network, and its operations are not controlled by any central authority. Launched in the year 2011 and created by Charlie Lee to address the challenges faced by Bitcoin on blockchain technology. The innovative feature of Litecoin is that its rate of block generation is faster than Bitcoin blockchain technology. This guarantees that Litecoin will have quicker and more efficient transaction confirmation. Litecoin presently has a market capitalization of $3.82 billion.