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Six key cryptocurrencies and how they work – The Australian Financial Review
Confused by the differences between the currencies? Here’s an explainer.
Litecoin is nearly identical to bitcoin in the way it functions with some key differences, namely a focus on quicker and cheaper transactions. Litecoin processes a block every 2.5 minutes, as opposed to bitcoins 10 minutes, allowing transactions between users to be confirmed faster than bitcoin. Litecoin was named the official cryptocurrency of NFL team the Miami Dolphins, allowing fans to purchase some tickets with the cryptocurrency.
Ripple
Ripple (known as XRP) was created by US-based technology…
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