Knowledge Hub | SpendPi

What is blockchain technology?

Blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

Blockchain was invented by a person or group of people called " Satoshi Nakamoto" in 2008. It has gained wide attention due it's designed property of resistance to modification of data. Blockchain invention led to the creation of first digital currency called 'Bitcoin' which solved the problem of double-spending and this was achieved without any centralized server.

What is cryptocurrency?

Cryptocurrency is a digital asset created for a medium of exchange using the cryptography to verify and secure the transactions. Cryptocurrency is based on the principles of decentralization meaning that one central body does not control these currencies. In other words, every peer or user within a network has a list of all transactions which ensure that transactions are valid and double spending does not occur.

Bitcoin was the first decentralized cryptocurrency following which many variants of bitcoin have been created called alt-coins. Cryptocurrencies can be used for peer-to-peer transactions, pay for goods and services.

Bitcoin

Bitcoin is an open source peer-to-peer money and the first blockchain based cryptocurrency. It does not have an physical existence instead, it is digital money only.

Bitcoin can be used to pay for goods and services, trade on crypto exchanges and transfer money between peers. It is one of the major and still the best-known cryptocurrency. It is also used for a store of value and often called as digital gold.

Learn more about Bitcoin

Know more about the currencies supported on spendpi.

Bitcoin(BTC)

Bitcoin is a P2P (peer-to-peer) money. As per orignal white paper "Bitcoin is a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution"

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Max supply supply

21,000,000

Circulation supply

17,584,300

Bitcoin Cash(BCH)

Bitcoin Cash (BCH) is a hard fork of Bitcoin. BCH has increased the block size to 8MB, to help the scale the underlying technology of Bitcoin. Further, BCH was hard forked again and split into Bitcoin SV and Bitcoin ABC. Bitcoin ABC became the dominant chain and took over the BCH ticker as it had more hash power and the majority of the nodes in the network.

Website

https://www.bitcoincash.org/

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Bitcoin Cash

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Max supply supply

21,000,000

Circulation supply

17,694,513

Dash (DASH)

Dash is an open source peer-to-peer cryptocurrency used for payments. The dash features the money that is anonymous, portable, inexpensive and speed of transaction of 1 second. Dash can be used to buy goods and services. It is one of the most scalable payment systems. Dash facilitates instant and private transactions with governance functionalities.

Website

https://www.dash.org/

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Dash

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Max supply supply

18,900,000

Circulation supply

8,684,095

Ethereum (ETH)

Ethereum allows participants to run decentralized blockchain applications called Smart contracts. On the blockchain, smart contracts allow for code to be run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference of third parties. Ethereum is an open platform that allows developers to build and deploy decentralized applications allowing developers to create things without a need for any middleman.

Website

https://www.ethereum.org/

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Ethereum

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Max supply supply

Circulation supply

105,204,531

Litecoin (LTC)

Litecoin is a peer-to-peer cryptocurrency created as an alternative to Bitcoin. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm. Unlike Bitcoin, Litecoin has a shorter block generation time. Litecoin is focused on value transaction for daily use and is often called as digital silver.

Website

https://litecoin.com/

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Litecoin

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Max supply supply

84,000,000

Circulation supply

60,846,586

Paxos Standard Token (PAX)

The Paxos Standard token is a stable token which is collateralized 1:1 by the U.S dollar, issued by the Paxos Trust Company, and approved and regulated by the New York State Department of Financial Services. PAX tokens are built on Ethereum blockchain and offer a digital alternative to cash that allows instantaneous settlements.

Website

https://www.paxos.com/pax/

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Github

Paxos Standard Token

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Max supply supply

Circulation supply

119,783,814

SpendPi (SPS)

Spendpi brings utility to cryptocurrency in the real world. With the spendpi platform, users can convert crypto to fiat currency and merchants can accept the choice of cryptocurrency and settle it in their local fiat or stable cryptocurrency if required. Spendpi token (SPI) is a utility token that can be used to pay and use with the spendpi ecosystem for fees and peer-to-peer transfer.

Website

https://www.spendpi.com

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TetherUS (USDT)

USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol and a stable coin backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency.

Website

https://tether.to/

Explorer

Github

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Max supply supply

Circulation supply

1,996,357,066

Verge (XVG)

Verge is a community-backed cryptocurrency and empowers people around the globe by bringing blockchain transactions into everyday life and makes it possible for people to engage in transactions quickly, efficiently and privately. Transaction speed on Verge is around to be at 5 seconds due to the use of Simple Payment Verification. Verge uses the anonymity tool Tor and an anonymous network layer I2P to hide specific transactions’ IP addresses and locations.

Website

https://vergecurrency.com/

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Github

Verge

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Max supply supply

16,555,000,000

Circulation supply

15,172,086,051

Zcash (ZEC)

Zcash (ZEC) is a decentralized and open-source privacy-focused cryptocurrency that enables selective transparency of transactions. Zcash transactions can either be transparent or shielded through a zero-knowledge proof called zk-SNARKs. This allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved.

Website

https://z.cash/

Explorer

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Github

Zcash

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Max supply supply

21,000,000

Circulation supply

5,196,519

*More currencies will be add to the SpendPi's payment's ecosystem in the future*

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