Security is a major component of a great crypto asset. Cryptocurrencies that recognize the imminent value of security have a high probability of winning the FinTech market. Nobody will trust a cryptocurrency that’s vulnerable to crypto hijackers, just as no one trusts traditional financial institutions that are easily compromised by fraud.
Needless to say, picking a cryptocurrency that will safeguard your digital assets is a must. Big Eyes Coin (BIG), Litecoin (LTC), and Ripple (XRP) are three of the most secure cryptocurrencies in the market today. Let’s look at their security features and distinguish why they could be your best asset yet!
The Ultra-Secure Big Eyes Coin (BIG)
Big Eyes Coin (BIG) is renowned for its cutting-edge security system modeled on the proof-of-stake (PoS) consensus mechanism. The proof-of-stake mechanism streamlines computational processes — which essentially keeps BIG secure — to validate blocks and transactions. In essence, the system enables cryptocurrency owners to stake their currencies and establish their own validator nodes.
Further proof of Big Eyes Coin’s tight security features is through its audit by Solidity Finance and verification by CoinSniper being resistant to rug pull. Solidity Finance is a well-known firm that audits complex solidity codes, while CoinSniper is a voting site where users list and examine new cryptocurrency projects.
The Ultimate Decentralized Litecoin (LTC)
Litecoin is a crypto from a fork in the Bitcoin blockchain and shares many of its security hallmarks. It also uses a proof-of-work mechanism but with a different hashing algorithm called Scrypt. It is obviously the better choice as Scrypt is slower than SHA-256 (salted data), thus slower against a possible attack.
Additionally, this algorithm is thought to be more memory-intensive than Bitcoin’s SHA-256, making mining with specialized hardware more difficult. The Litecoin network, then, is 51% less susceptible to attack and centralization.
The Impenetrable Ripple (XRP)
Ripple, better known for its native currency, XPR, employs a unique consensus mechanism called the Ripple Protocol Consensus Algorithm (RPCA). To confirm transactions and keep the ledger up to date, it relies on a network of trusted validators.
Ripple chooses the validators for the consensus mechanism, which means the network is more centralized than Big Eyes Coin and Litecoin. The system, on the other hand, is designed to be more resistant to attacks as it just needs 80% of validators to settle on a transaction for it to be considered valid.
This RPCA-based crypto also has a built-in mechanism to prevent double-spending attacks.
To Lock It All Off…
Each cryptocurrency has its strengths and weaknesses when it comes to security. As an investor, it’s crucial to consider these factors when evaluating your potential investments.
Big Eyes Coin, Ripple (RPX), and Litecoin all showed that they had taken all the necessary precautions to give their investors absolute trust. The audits they obtained from respected FinTech groups are the cherry on top of their various levels of security features. All of these exhibit the dedication and commitment of Litecoin, Ripple (RPX), and Big Eyes Coin to offer the highest level of security to their respective communities.
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