Topic: Difference between Crypto Technologies? (Read 194 times)

that is a very common misconception that stems from the fact that a "bitcoin ASIC" doesn't work for mining litecoin but ASIC only means Application-specific integrated circuits in simple terms it is a hardware that is designed to perform specific hashing algorithms. this algo can be SHA256 to mine bitcoin or other coins based on it or it can be some other thing so it can be used for litecoin or any other different coin.
here is an LTC ASIC miner by Bitmain which has been in use for many many years by the way: https://shop.bitmain.com/promote/antminer_l3_litecoin_asic_scrypt_miner/overview

The consequence of using scrypt means that there is no 'arms race' in litecoin (and other scrypt currencies), because so far no ASIC technology is available for the algorithm. However, at this time it seems to be changing soon, moreover the presence of companies like Alpha Technologies who are now taking preorders will change everything.

I disagree, this year was mostly newcomers licking their wounds in the cryptocurrency market rather than adoption of the blockchain technology. it was mainly last year that the "boom" happened because of price rises the technology was also becoming popular.

no, the miners only find blocks by performing certain "work". they don't know how to verify transactions. a full node does the verification for them. a miner can also run a node and do the verification but still the verification is done by the node not the miner.

it is not about the "first mover advantage" otherwise the previous projects that were made before bitcoin (before 2008) would have been bigger than bitcoin now instead of not existing at all!

With the explosion of different cryptocurrencies, many investors are trying to catch the wave. It seems all exciting, but it is extremely difficult for a layman to understand the basic difference between all the cryptocurrencies and different blockchain protocols. The probable effects of the blockchain cannot be understated, and this might lead to a financial revolution.  2018 has been a big year for all the blockchain's popularity, and how far they have come . First let us take the overview of each of above mentioned blockchain technologies.

BITCOIN:
 Bitcoin might be considered as the “father” or the "king" of all the cryptocurrencies. The first cryptocurrency is digital cash that only exists electronically. Peer-to-peer network architecture is the backbone of this cryptocurrency. A public ledger keeps track of all the records of the transactions being made. Blocks can be added once the transaction proceeds. The important thing to note here is that blockchain is maintained by a distributed network of miners. Miners not only record the transactions but verify them too. This is also how they provide security, notably one of the Bitcoin’s biggest features.

EOS:
The term “EOS” is used interchangeably for both EOS blockchain platform and its native EOS coin. EOS provides the provide ecosystem, one of a kind ecosystem where developers can not only build but develop their own Dapps. The main purpose for the platform is to provide developers with tools and network to build commercial Dapps, just like IOS is used to build mobile applications. The platform itself is built to process one million transactions. apps. The network itself uses a proof-of-stake (DPoS) consensus mechanism.E0S’s developers usually implement parallel execution and asynchronous communication. They claim that one day it will able to support thousands of commercial Dapps. To build an app using the EOS platform, one must use EOS coins.

ETHEREUM:
Blockchain technology is used to do much more than just developing  a cryptocurrency and such applications are usually called the 2.0 versions. For example, Crypto 2.0, Blockchain 2.0, or Bitcoin 2.0.
Ethereum was launched in 2015. It is a well-established, open-ended software platform that is used to build Smart Contracts as well as Distributed Applications (Dapps). It allows them to be built and run without any interruption, control or meddling from third parties. Ethereum is not only a platform but a programming language running on blockchain. It helps developers build and publish distributed applications.
and now there's a new protocol on which different coins are being build.

MIMBLEWIMBLE
1)Privacy is ensured with the help of Confidential Transaction. Confidential Transactions work on two main properties, hiding and biding. Hiding is ensured by encapsulating the information until the key is revealed to the user receiving the transaction. Once the key is revealed, user can verify the transaction.
2) Scalability is ensured with the help of Transaction Cut-Through. It is basically merging all the transitional outputs inside the block as it consists of a list of transactions containing all inputs and outputs. This could also be applied to the multiple blocks in the blockchain. For example, if protocol A sends the transaction to protocol B, and protocol B sends the protocol to protocol C, then we can "cut through" the intermediary transaction that results into merged transaction between A and C thus reducing computational overload.

In my personal view, Bitcoin is and will stay more relevant ,since it has first mover advantage.Also ,let me know what is the best forum to post such stuff.