Key Facts about IC15

• IC15 serves as a reliable tool for crypto enthusiasts, traders, and investors to keep track of the global cryptocurrency prices.
• The index currently features 15 cryptocurrencies, as implied by its name.
• The cryptocurrencies included in the IC15 index are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Cardano (ADA), Litecoin (LTC), Binance Coin (BNB), Chainlink (), Polkadot (DOT), Uniswap (UNI), Dogecoin (DOGE), Solana (SOL), Terra (LUNA), Avalanche (AVAX), and Shiba Inu (SHIB).
• The governance committee, comprising academicians, domain experts, and industry practitioners, will oversee and rebalance the index every quarter.
• To be eligible for inclusion in the index, a crypto coin must rank within the top 50 in terms of market capitalisation for the previous month and should have been traded for at least 90% of the trading days of the review period.
• The base date is set as 1^st April 2018, with the base value fixed at 10,000.

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Understanding Cryptocurrencies

Cryptocurrency is a form of digital currency that relies on encryption for transaction validation and does not depend on a central authority or bank. This decentralized nature of cryptocurrencies makes them immune to direct control and regulation by any central authority. Every cryptocurrency operates on a specially designed decentralized program, which utilizes blockchain technology to maintain a public ledger. Each node within the network holds a copy of this ledger, ensuring its tamper-proof nature.

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Exploring Blockchain Technology

Blockchain technology is essentially an ever-growing list of records. It employs peer-to-peer networking to manage data flow between different nodes, also known as Blocks. In a blockchain, each block contains the address of the block before it and the block after it, with various algorithms used to locate a specific block within the chain. Each block stores identical data, and any legitimate data addition is updated across all blocks.

The blockchain network consists of three fundamental components: Distributed/Decentralised ledger technology, Immutable records, and Smart contracts. Depending on the design, a blockchain program can be public, private, consortium, hybrid, or interoperable, as seen in most cryptocurrency networks.

Mainstream Applications of Blockchain Technology

While the potential of blockchain technology is vast and largely unexplored, some of its most prominent applications include Cryptocurrency, Smart Contracts, Financial Services, Online Games, Energy Trading, Supply chain management, Anti-counterfeiting, Healthcare, Election/Voting, and Domain names.

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