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While covering over 100 blockchain activities in their exchange, Hotbit's encryption will now list Ethereum Classic (ETC), Ripple (XRP) and Litecoin (LTC) starting Thursday, November 1st. ETC, XRP and LTC will be officially configured for filing from March 31st to 16:00 (UTC + 8) and for transactions starting at 11/1 15:00 (UTC + 8), the new cards will be available in BTC and ETH transactions.
In the last 24 hours, Hotbit's most popular markets include: Ethereum, Nexo, Content Box, HOQU, Sharder, PundiX and Fusion. Hotbit is ranked around the 50th largest stock exchange in terms of volume, with 5,336 BTC traded in the last 24 hours.
Overview of ETC, XRP, LTC
Ethereum Classic (ETC)
Ethereum Classic is a public open source distributed computing platform based on blockchain with smart contract functionality (scripting). It provides a decentralized virtual machine complete with Turing, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum Classic also provides a value token called "classical ether", which can be transferred among the participants, stored in a cryptocurrency portfolio and used to compensate the participant nodes for the calculations performed. The classic token ether is exchanged on cryptocurrency exchanges with the symbol ETC. Gas, a mechanism for determining the prices of internal transactions, is used to prevent spam on the network and allocate resources proportionally to the incentive offered by the request.
The Ethereum platform has been bifurcated into two versions: "Ethereum Classic" (ETC) and "Ethereum" (ETH). Before the fork, the token had been called Ethereum. After the fork, the new tokens retained the Ethereum name (ETH) and the old tokens were renamed Ethereum Classic "(ETC) .Ethereum Classic appeared after a disagreement with the Ethereum Foundation regarding the DAO Hard Fork. members of the Ethereum community who rejected the hard gallows on philosophical grounds.Ethens who owned ETH before the DAO hard fork (block 1920000) possess an equal amount of ETCs after the fork.
Ripple (XRP)
RippleNet offers a unique and no-frills experience for global payments. Rather than a constellation of disparate technologies, non-standardized communications and centralized networks, RippleNet is a single global network of banks that send and receive payments through Ripple's distributed financial technology, providing real-time messaging, clearing and settlement of transactions.
RippleNet is a decentralized network based on an agreement between Ripple and network participants, who use the same technology and adhere to a coherent set of payment rules and standards. RippleNet banks benefit from robust connectivity, standardized technology and rich data attachments with every payment. Ripple's distributed financial technology exceeds today's infrastructure by reducing costs, increasing processing speed and delivering end-to-end visibility on payment fees, time and delivery.
XRP is the native currency of the Ripple network that exists only within the Ripple system. The XRPs are currently divisible to 6 decimal places and the smallest unit is denominated drop with 1 million drops equal to 1 XRP. There were 100 billion XRPs created at the birth of Ripple, and it was not possible to create anything else according to the protocol rules. As such, the system has been designed so that the XRP is a scarce resource with the decrease in supply available. The XRP, which does not depend on third parties for redemption, is the only currency of the Ripple network that does not involve counterparty risk and is the only native digital asset. The other currencies of the Ripple network are debt instruments (ie liabilities) and exist in the form of balances. Users of the Ripple network are not required to use XRP as a store of value or as a medium of exchange.
Litecoin (LTC)
Litecoin is a peer-to-peer Internet currency that allows instantaneous, almost zero, payments to anyone in the world. Litecoin is a fully decentralized open source global payment network without central authorities. Mathematics protects the network and allows people to control their finances. Litecoin offers faster transaction confirmation times and better storage efficiency than the primary math-based currency. With substantial support from the sector, trading volume and liquidity, Litecoin is a proven trade tool complementary to Bitcoin.
Litecoin was released via an open source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. The Litecoin network was activated on October 13, 2011. It was a fork of the Bitcoin Core client, which differed mainly from the reduction in block generation time (2.5 minutes), the increase in the maximum number of coins, the 39; hashing algorithm (scrypt, instead of SHA -256) and a slightly modified GUI. In May 2017, Litecoin became the first of the top-5 cryptocurrencies (by market capitalization) to adopt Segregated Witness.
