Bitcoin-Ripple-IOTA: What is Crypto?

[MrSpasybo]

First of all, I would like to confirm, this is not a topic for FOMO or FUD, please join or stand out of crypto market according to your own analysis.

Bitcoin: the first blockchain & crypto. It was born in 2018 by Satoshi Nakamoto and is seen as the means of payment of future, allowing the economy to escape the manipulative hands of governments.
Now after transferring the value of payment methods to BitcoinCash & Litecoin, Bitcoin is treated as digital gold, and I agree with this new definition of Bitcoin.
Bitcoin was also the first cryptocurrency, which also laid the foundations for the concept of crypto: a digital currency on blockchain platform.

Ripple & XRP: XRP was released by the Ripple company in 2012, and it is seen by many as a cryptocurrency. However, I do not consider it a crypto, because it is centrally managed by the Ripple company. Ripple also holds a large amount of XRP, about 54B/100B XRP, creating such huge price manipulation that the XRP community even asks Ripple to burn down XRP that Ripple is holding.
As such, I personally don't consider Ripple a crypto because it doesn't have a decentralized blockchain.

IOTA & MIOTA: this is the project that I learned after hearing about the Chrysalis update that will be released today 28.04.2021.
MIOTA is token issued by IOTA in 2015, and the special thing is that it does not use blockchain technology. Instead, IOTA uses Tangle technology.

“The Tangle, which is the data structure behind IOTA, is a particular kind of directed graph, which holds transactions. Each transaction is represented as a vertex in the graph. When a new transaction joins the tangle, it chooses two previous transactions to approve, adding two new edges to the graph. In the example above, transaction number 5 approves transactions number 2 and 3. Transactions are more or less what you would expect, information of the form “person A gave person B ten IOTAs.”

Detail: Blockchain vs Tangle: Untangling The IOTA Tangle

Thus, it can be seen that MIOTA is digital currency on tangle technology. And it has all the properties of crypto like Bitcoin, especially decentralization.

Maybe we should change the concept of crypto a bit: Crypto is digital currency on decentralized platform.

What do you think about this? Can XRP & MIOTA be considered crypto? What is your own definition of crypto?

[TomPluz]

I agree with you that the most important feature and should be the deciding factor whether a coin should be called as cryptocurrency is the decentralization aspect. When a platform is controlled by a few people or just another corporation then it must not be categorized as cryptocurrency. This has been the nagging question that is always attached to XRP ever since. I am glad to know of the Tangle Technology as the one behind the IOTA network, being not into the blockchain technology.

[Fenix]

A very interesting technology for use in the world of cryptocurrency. Yes, cryptocurrency is developing very quickly and now even blockchain technology has an alternative. As I understand it, with Tangle technology, miners approving transactions would be unnecessary and thus transactions can be free. Here, subsequent transactions validate the previous ones. That is, a transaction will not be approved unless several other transactions follow.
If glomerular technology replaces chain technology, bitcoin may eventually lose its current position and importance.
Regarding the main idea in this thread, then, indeed, with the advent of other technologies, decentralization should be a decisive factor in classifying it as a cryptocurrency.

[sergeybobrov]

Bitcoin can indeed be considered digital gold and it will definitely stick to it when Bitcoin's volatility decreases.
I also do not consider Ripple a full-fledged cryptocurrency, but you can speculate on the market and I think XRP will show new heights this year. I bought some XRP and will keep it for a while.
I have never been interested in the IOTA coin, so I can’t say anything.

[robert20]

Yes i also agree with you that the most important to consider something a cryptocurrency is decentralization. If something doesn't have decentralization and it is controlled by some authority then we should not call it a crypto. XRP is also working like something that has been centrally controlled.

[Fivestar4everMVP]

Well, since 2016 I've been in the crypto space, am just getting to know this about XRP and IOTA today, this is a very informative thread I must say.
And back to the topic of discussion, knowing this about XRP and IOTA today, I won't consider XRP in particular, a crypto currency for, a crypto  coin that is highly centralized even to its blockchain is not a crypto currency to me, a true crypto currency should atleast have a decentralized blockchain, not one where owners have the power to mint as many coins as they want at any given time.
As for IOTA, is will still consider this a crypto currency as long as the team does not have access to the happenings in the transactions, but if they do, then it's also not a true crypto currency.

[Gyrgen]

It seems to me that the main determining factor is the technology that is used, and by whom and how it is controlled is a secondary issue, because absolutely any tokens are manipulated, regardless of the amount that the creators have.

[jonathancool220]

I really regret Ripple which has a centralized system but a lot of investors who are on the Ripple line with large investments.
I admit, I don't like the Ripple coin and I prefer IOTA because it doesn't have too many problems.
If you compare Ripple, IOTA and Bitcoin, it is certain and clear that I will choose Bitcoin.