Energy is utilized intensively in securing the blockchains. Most popular form, proof of work (POW) block chain requires significant amount of energy. According to a press release by bitconnect.co, the Bitcoin (BTC) blockchain requires energy equal to a small country for securing payment. Moreover, increase in blockchain security leads to increase in the mining difficulty. Many other factors fueling the market growth include the growing inclination of the population towards digital assets, increasing media reporting, number of investors, and security of the payments among others.
The global Cryptocurrency Market is estimated to be valued at US$ 189.9 billion in 2017 and is expected to witness a CAGR at 56.2% during the forecast period (2017 – 2025).
Key Companies in the Cryptocurrency Industry:
1. Bitfinex
Bitfinex founded in 1988 and its headquarters Pittsburgh, Pennsylvania, United States. The company operates in 10 countries. In 2021 Ford and Alcoa announced a joint development agreement to collaborate on advanced automotive aluminum
2. BitFury Group Limited
BitFury Group Limited founded in 1988, and its Headquarters located in Pittsburgh, Pennsylvania, United States. The company operates in 42 nations.
3 Bitstamp Ltd
Bitstamp Ltd ,was launch in 1897 and it’s headquarter located Chiyoda City, Tokyo, Japan.it operate over 50 country.
4 Coinbase, Coinsecure
SNF Ltd was launch in 2001 and it’s headquarter Fuzhou, Fujian Province, China..it operate over 18 country. In 2021 AliveCor, the global leader in FDA-cleared personal electrocardiogram (ECG) technology and services.
5 Coinsecure
Cytec Industries Incwas founded 2006 with its headquarters in Amsterdam, Netherlands. With businesses in over 40 countries. In The acquisition was previously announced on October 9, 2019 and closed and became effective today. About AMG.
6 Litecoin
Litecoin was launch in 1905. And its headquarter - Oslo, Norway. It operate over 70 country.In 2023 Norsk Hydro ASA has relaunched a tender offer process for the acquisition of 100 percent of the shares of the Polish recycler Alumetal S.A
7 Poloniex Inc.
Poloniex Inc. founded in 2011 and it’s headquarter located Paris, France.It operate over 70 country. In 2020 Constellium announced today that it is leading a new consortium of automakers and suppliers to develop lower carbon, lower cost aluminium extrusion alloys.
Definition- Cryptocurrency are digital medium of exchange, alternative to conventional currencies such as US$ or Euros.
