The total market value of cryptocurrencies rose above $2 trillion mark last month as Bitcoin continued to climb along with other coins such as Cardano, XRP and Dogecoin.

• The total market value of cryptocurrencies rose above the $2 trillion mark last month.
• Bitcoin - the world's largest and most popular cryptocurrency may touch the $100,000-mark by the end of this year
• Presently, the global crypto market cap is $2.29 trillion, registering an increase of 0.04 per cent increase over yesterday, according to data by CoinMarketCap.
• Bitcoin's price surged past the $50,000 mark last month for the first time since May
• Bitcoin has risen by around 81 per cent since hitting a yearly low of $27,700 in January 2021.

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on block chain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.

        Key Takeaways

• A cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
• The word “cryptocurrency” is derived from the encryption techniques which are used to secure the network.
• Blockchains, which are organizational methods for ensuring the integrity of transactional data, are an essential component of many cryptocurrencies.
• Many experts believe that blockchain and related technology will disrupt many industries, including finance and law. 
• Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities, exchange rate volatility, and vulnerabilities of the infrastructure underlying them. However, they also have been praised for their portability, divisibility, inflation resistance, and transparency.

Bitcoin

Bitcoin was launched in 2009 by an individual or group known by the pseudonym "Satoshi Nakamoto."1 As of August 2021, there were over 18.8 million bitcoins in circulation with a total market cap of around $858.9 billion, with the figure updating frequently. 

Some other crypto currencies are -  Bitcoin , Ethereum, Ripple, Dash, Litecoin , Dogecoin etc.

By: Brijesh Kumar