In crypto, there are three types of crypto generation that have been created. Where the first generation was created by Bitcoin by Satoshi Nakamoto. Then the second generation of Ethereum was created by Vitalik Buterin and the third category is Cardano which was created by Charles Hoskinson.
Each generation has a stake in the world of cryptocurrency to this day. Bitcoin is better known as the mother of cryptocurrency which brought the origin of crypto. While Ethereum carries the existence of its smart contract, and lastly, Cardano carries Proof of Stake for scalability problems that exist in the second generation.
But in this case, if examined in-depth, all of them are in the process of developing for the needs of crypto problems in general that occur and undergoing updates in each of these generations.
Each generation develops all existing flaws and security systems. The core of it all refers to the blockchain system that runs and the problem of the conflicting need faced by the world community as a whole.
An example of the case in the second generation, namely Ethereum, is currently running at a time where it will move on to a future update known as Ethereum 2.0. And developments on the Ethereum blockchain system can be said to be the same as the third generation that was carried out by Cardano.
Bitcoin as an early proponent of crypto stepped into a system that still maintains proof of stake system but develops a security and speed development system to be more optimized. Like the birth of the Lighting Network on its blockchain system.
However, the other side of the first generation gave birth to many new variants, each of which carried technology from various existing conflicts. Of course, each has a bearer that is owned by a different thought from Bitcoin.
The creation of Bitcoin Cash on a fork that carries a speed system for proof of work scalability that occurs as well as the problem of lower costs is now also experiencing significant progress with the presence of SmartBCH which carries a second-generation blockchain system to participate in the development of the system to the third generation in the future.
So it can be said that Bitcoin Cash is a cryptocurrency that carries all three generations.
A lot has happened in crypto during its journey to date. The presence of other blockchain systems but not included in the word generation is also present following the existing developments. Like Zcash, which carries proof of stake but protects every transaction in an anonymous system that is kept confidential. As well as various other cryptocurrencies such as Dash with its programming language system, then Ripple Lab which carries the same bank system followed by Stellar in the circulation of the transaction language.
Crypto is so diverse that it gives birth to various new projects every year from ICO, IEO, DEX projects, and up to the current DeFi system. All carry new developments in the crypto world.
So significant is the acceleration of the growth of cryptocurrency to date. And it can be said that no matter how many people doubt and try to thwart crypto, in fact, crypto continues to grow slowly and surely.
The stretcher of the inventors of the cryptographic language is really beyond expectations with the presence of crypto today. A lot of famous figures have created a new history in the world financial-economic system.
Until now crypto comes with a variety of projects that were created. The success of the use of the blockchain system turned out to have a wide impact on the advancement of the digital era system in the current era of robotic computerization.
So with the presence of so diverse cryptocurrencies at this time, crypto mapping is at least a first step for crypto lovers and beginners who enter the crypto world to recognize the carrying sides of each crypto that was created. All of that needs to be done on the basis of understanding, learning, and self-determination in order to determine which ones we can take as material so as not to get caught up in the word investment that is detrimental and wrong in the future.
The community and various news factors need to be seen from the origin of the truth. Don't get caught up in all kinds of lies or market schemes for the sake of fulfilling the needs of a community. Be more careful and look at the research system which is more important, not lulled by the word profit alone.
Hopefully, we can map which crypto we can carry for our future. Also for the world community in general. And "Happy Bitcoin Cash Day everyone".
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That's very insightful and nicely written,
Would BCH be second generation or third?
I think it should be categorized in third as it solves the problems of the legacy blockchain