3 Challenges of Cryptocurrencies One Must Know
Before you invest make sure you know the answers to these 3 questions
The total value of all cryptocurrencies combined crossed the mythic figure of $1 Trillion in the first week of January this year. Slowly, but not quite steadily, they are becoming a potent force.
Despite their meteoric rise, digital currencies have loopholes. By virtue of existing solely in the cloud, they bring along a host of issues. How do we know which digital currency to trust?
Even though the market’s confidence says a lot about a currency’s validity, how a currency solves a few technical challenges speaks much more to its validity than a market ever could.
In 2018, Bitcoin Gold was the 26th largest cryptocurrency. It was quickly becoming one of the market favourites. In May of 2018, it fell prey to the infamous 51% attack. The attackers managed to get a hold over 51% of the digital currency and got away with stealing more than $18 million worth of Bitcoin Gold.
