If you want to keep abreast of the latest cryptocurrency trends but feel a bit lost in the diversity of currencies and courses, we have good news for you - the developer Konstantin Keller has introduced his Ekkø virtual assistant with a built-in cryptocurrency converter. The bot is designed to help you learn the course and offer answers to the current issues of the crypto-currency world.
For those who are new to the cryptocurrency stock, we’ve prepared a small introduction about the key features of cyber currency and how to benefit from them.
What Is a Cryptocurrency?
Cryptocurrency is a form of virtual money that, unlike fiat funds, does not have physical expression. The generation of crypta is connected with the calculation and exchange of secure codes in electronic transactions. The unit of such currency is "coin".
A feature of the monetary unit is protection against forgery, because it encrypts data that can’t be duplicated. The key feature of cryptocurrency is the absence of any internal or external administrator. Therefore, banks, tax authorities, judicial and other public or private bodies cannot influence the transactions of any participants in the payment system.
A Variety of Coins
Today there are several thousand diverse crypto-currencies, but 50% of them are soap bubbles. Here is the list of the most popular and reliable as of now (February 2018):
Bitcoin is the most popular cryptocurrency and, figuratively speaking, an ancestor of the medium. When it appeared, Bitcoin laid the foundation for the development of all other similar currencies. The developer is a hidden group of programmers who call themselves Satoshi Nakamoto.
Ethereum is a platform for creating decentralised online services based on blockbuster (Dapps), working on the basis of smart contracts. The currency, implemented as a single decentralised virtual machine, was proposed by Vitalik Buterin, the founder of Bitcoin Magazine, at the end of 2013. The network was launched on July 30, 2015.
Litecoin was launched in 2011. This monetary unit was founded by the programmer Charlie Lee, who had previously worked for Google. The main idea of this creation is to become a kind of analogue to silver in the digital finance market, taking into account the fact that Bitcoin is often associated with its value in gold. LTC issue is limited to 84 million.
Zcash is an open source cryptocurrency developed by Zerocoin Electric Coin Company which ensures the confidentiality and selective transparency of transactions. Zcash payments are published in a public chain of blocks, but the sender, recipient and transaction amount remain private.
Making Cryptoconversion Easier
Ekkø, the new virtual assistant, is able to convert one coin to another, to compare the ratings of 79 exchanges, show the history of course changes and interpret terminology. The bot can find out the balance of the bitcoin or Ethereum address, describe a particular platform’s operation algorithm or issue reports of outstanding figures in the crypto-currency industry. The bot receives information from CryptoCompare, Coinmarketcap, CrunchBase, LinkedIn, Wikipedia and a number of other resources. On the bot website, you are invited to familiarise yourself with the categories of questions you can ask.
In the very near future, Ekkø will be able to warn users about price changes, calculate the capitalisation ratio, display exchange rate dynamics and support cryptocurrency exchange thanks to API ShapeShift. You can use it in-browser and in different messengers like Telegram, Slack, Twitter and Line.
Such smart bots can do a lot of things today. If you have an idea for your own assistant, our experts are ready to consult you on any development issue.