A Review on the Comparison and Analysis of Major Cryptocurrencies

Abstract

With the increasing demand of virtual currency, cryptocurrencies are gaining popularity throughout the world for transactions be it legal or illegal. The yields returned from investment in crypto currency these days are huge but their existence and reliability has always been questioned. A cryptocurrency uses cryptography for implementing security. In spite of several problems in crypto currencies, the growing success of Bitcoin since its launch has emerged in a number of organizations coming forward with substitute cryptocurrencies .This study tries to present a comparison of six famous cryptocurrencies - Bitcoin, Ethereum, Litecoin, Dash, Monero and IOTA in the light of their volatility and strengths in present times and also discusses their current trends. A thorough study of literature showed that no paper has been presented keeping in mind only these six currencies, so this article is the first of its kind to present a comparison of technicalities of these cryptocurrencies.