1. Bitcoin
Bitcoin was introduced to the public
in 2009 by an anonymous developer or group of developers using the
name Satoshi Nakamoto. Bitcoin a
cryptocurrency, a virtual currency designed to function as money and a form of
payment outside the control of a single person, group, or entity, and thus a
third party in a financial transaction, Eliminates the need for inclusion. This
blockchain rewards miners for the work they do to verify transactions and can
be bought on many exchanges.
Bitcoin is the first decentralized peer-to-peer
payment network that is fully controlled by its users without any central
authority or intermediary. Bitcoin is a digital currency that resides in an
open-source P2P (peer-to-peer) payment network. P2P is a computer network model
consisting of two or more computers, where each computer can share the network
environment. This network makes it easy for users to transact directly without
the need for third-party services.
Bitcoin, as a form of currency, is not too
complicated to understand. For example, if you own Bitcoin, you can use your
cryptocurrency wallet to send small fractions of that Bitcoin as payment for
goods or services.
2. Ethereum
It should be noted that you may encounter something called ETC, which is
Ethereum Classic. It uses the so-called original Ethereum blockchain but is
subject to considerable controversy. If you're trading in Ethereum, do so in
ETH, not ETC (unless you're very sure you know what you're doing).
The first Bitcoin alternative on our list, Ethereum (ETH), is a
decentralized software platform that allows smart contracts and decentralized
applications (DApps) to be built and run without downtime, fraud, control, or
third-party intervention. Enables The goal behind Ethereum is to create a
decentralized suite of financial products that can be freely accessed by anyone
in the world, regardless of nationality, race or creed. This aspect is more
compelling for those in some countries because they can access bank accounts,
loans, insurance, or a variety of other financial products without state
infrastructure and state identification.
Ethereum is a decentralized blockchain platform that establishes a
peer-to-peer network that securely executes and verifies application code,
called smart contracts. Smart contracts allow participants to transact with
each other without a trusted central authority. Transaction records are
immutable, verifiable, and securely distributed across the network, giving
participants full ownership and visibility into transaction data. Transactions
are sent and received from user-created Ethereum accounts. The sender must sign
the transaction and spend Ether, Ethereum's native cryptocurrency, as the cost
of processing the transaction on the network.
Ethereum is easily one of the most well-known cryptocurrencies after
Bitcoin and has seen a surge in popularity over the past couple of years. It is
currently the second largest digital currency by market cap after Bitcoin.
Ethereum aims to create a group of decentralized financial products that can be
used anywhere in the world. It serves as a decentralized software platform that
allows smart contracts and DApps (decentralized apps) to be created and
executed with almost zero fraud or disruption by third parties, gets It is
becoming increasingly popular among people in poor economies or countries with
poor infrastructure because it allows anyone to create and access to financial products,
such as loans and bank accounts, that they otherwise would not have access to. Since the launch
of Ethereum's 'Ether' token in 2014, it has been rapidly adopted by many and
can be used for many services, including crowdfunding, lending systems and
insurance. For example, with lending standards, it is common for traditional
lenders to take a long time to inspect your credit score and often make
mistakes. However, decentralized lenders take your cryptocurrency as
collateral, making borrowing much easier. For reference, Ethereum also has no
coin limit (compared to Bitcoin's limit of 21 million) which means anytime is
the best time to buy, however, it doesn't generate as much demand so it is not
clear where ETH prices may end up.
Ether is a cryptocurrency that runs on the Ethereum blockchain. Like
Bitcoin, Ether operates on its own blockchain — but unlike Bitcoin, Ether is
unlimited, meaning a theoretically unlimited number of coins can be created.
Ethereum also supports smart contracts, which are programs that run on the
Ethereum blockchain and automatically execute when certain conditions are met.
3. Litecoin
Since Bitcoin was founded, hundreds of other
cryptocurrencies have been forked or created from it. Litecoin (LTC), a Bitcoin
fork, is one of those altcoins - the term for cryptocurrencies that aren't
Bitcoin. While Litecoin is based on the same underlying blockchain and
verification method as Bitcoin, several key differences can help you decide
which one is right for your interests and goals.
Litecoin was initially released in the year 2011.
Litecoin's symbol is 'L'. It is also characterized by P2P technology (Peer to
Peer). This Litecoin provides instant zero cost payments worldwide.
Litecoin was launched in 2011 by former Google engineer
Charlie Lee, who announced the launch of a "lite version of Bitcoin"
in a message posted on a popular Bitcoin forum. From its foundation, Litecoin
was created in reaction to Bitcoin's trend towards centralization.
Litecoin is a spin-off of Bitcoin's code, which
quadruples the supply and speeds up overall transactions. The goals with
Litecoin were to offer a faster solution with many of the same advantages over
Bitcoin. Litecoin even has a hard-coded halving every four years or so like
Bitcoin.
Which one is better depends on your goals, what
you want to do with your coins, and your thoughts on cryptocurrency? Litecoin
evolve faster than Bitcoin, but Bitcoin has a higher price. Bitcoin may be
better if you want a higher value per coin, while Litecoin may be better if you
want more coins at a lower cost.
4. Ripple
Ripple is a payment protocol that processes international money
transactions using blockchain technology. It has worked with hundreds of
financial institutions that use its technology. Ripple aims to provide
incredibly fast processing times and minimal transaction costs.
RipplePay.com was launched in 2005 to provide a secure payment system for
members of the online community through a global network. Jed McCaleb began
developing a digital currency system in 2011 that verified transactions by
consensus among network members, rather than the mining process used by Bitcoin
that uses blockchain ledgers. relies on. This new version of the Ripple system
was designed to eliminate Bitcoin's centralized exchange, use less electricity
than Bitcoin, and make transactions faster.
Ripple is a real-time gross settlement system (RTGS) developed by the
Ripple company. It is also called Ripple Transaction Protocol (RTXP) or Ripple
Protocol. It can trace its roots back to 2004 when a web developer named Ryan
Foger came up with the idea of creating a financial system that would be
decentralized and allow individuals to effectively create their own money.
Ripple was initially released in the year 2012 and later stabilized and
re-released in the year 2018. In terms of market capitalization, Ripple is at
the third position. Ripple has not been featured in Blockchain like its
competing cryptocurrencies.
The wave is known for its rare but explosive movements that shock the
crypto world. Ripple went from under a penny to $3.58 per coin in a single year but
then fell 99% due to this move. Now, it's stuck at around 50 cents due to the
controversy surrounding the centralized coin.
5. Bitcoin Cash
Bitcoin Cash is a hard fork of the original
Bitcoin blockchain, and the promise of new coins to hold BTC helped propel the
cryptocurrency to $20,000 per coin in 2017. However, Bitcoin Cash has failed to
beat Bitcoin at its own game, despite faster block times and reduced block
sizes.
"Bitcoin Cash would be better for something
like a cup of coffee, while a larger purchase, like a car or house, might
warrant a slower and more secure cryptocurrency like bitcoin," said Daniel
R. Hill, Hill Wealth Strategies. President of Virginia
The coin split from the original protocol in 2017
amid growing concerns about scalability, slow transaction speeds, and high
fees. Additionally, there was a dispute in the Bitcoin community over the true
purpose of the coin, which Satoshi Nakamoto described as a truly decentralized
peer-to-peer digital payment method. Many participants felt that the original
Bitcoin no longer represented these values.
Bitcoin Cash was born from the idea of making
Bitcoin more practical for small, everyday payments. In May 2017, Bitcoin
payments took about four days until a fee was paid, which was
disproportionately high for small transactions. A code change was implemented
and Bitcoin Cash was born on August 1, 2017.
While the concept behind Bitcoin Cash has some potential, it has yet to reach its lofty goal of replacing the original Bitcoin. If it starts serving as a more accepted medium of exchange, it could give its big, big brother a tough run.
6. EOS
EOS is a blockchain-based, decentralized platform
aimed at developing and supporting industrial-scale applications. This system
was developed by Dan Larimer and is very similar to Ethereum. Having
established itself among the top 10 cryptocurrencies by market cap, it is
available for trading and investing on the eToro platform.
EOS is the native cryptocurrency under the EOS.IO
blockchain protocol. EOS.IO is a smart contract platform for decentralized
applications and protocols designed as an enterprise solution for scaling
computer resources, computer processing hardware, storage, and more. EOS was
created, like many top cryptocurrency projects, to solve the speed,
flexibility, and scalability issues and high fees in both Bitcoin and Ethereum.
EOS touts itself as the fastest and most scalable
smart contract blockchain network in the space, implementing a Delegated Proof
of Stake (DPoS) consensus mechanism. This enables the platform to push a
decentralized system where the verification of transactions stored in blocks is
also focused on the community.
EOS is a cryptocurrency that runs on its own
blockchain. EOSIO is an open source blockchain currently in development, led by
the company Block.one. EOS is similar to the major currency and blockchain
Ethereum in that its blockchain enables other smart contracts and decentralized
apps in addition to its own currency. But unlike Ethereum, EOS transactions
require no fees.
EOS has been dubbed the "Ethereum
Killer" due to its 100,000 transactions per second, compared to Ethereum's
current 15-30. Despite being an "Ethereum killer", EOS started life
as an Ethereum-based ERC-20 token, but later launched its own mainnet.
7. ADA
Founded in 2014 by Charles Hoskinson and Jeremy
Wood, Cardano is an open-source, decentralized, third-generation proof-of-stake
blockchain project that aims to be more efficient, scalable and environmentally
friendly than proof-of-work (PoW) networks (Ethereum).
Cardano (ADA) is an "Ouroboros
proof-of-stake" cryptocurrency built with the research-based approach of
engineers, mathematicians, and cryptographers. The project was co-founded by
Charles Hoskinson, one of the five original founding members of Ethereum. After
disagreeing with the direction Ethereum was taking, he left and later helped
build Cardano.
Cardano is an open-source blockchain platform
powered by the ADA cryptocurrency token, which is widely used to host
decentralized systems and applications globally. The Cardano ecosystem was
founded in 2015 by Charles Hoskinson, one of the founding members of Ethereum.
Cardano is an open source and decentralized public
blockchain and cryptocurrency project. It is also known as a distributed
computing platform that runs the blockchain for the ADA cryptocurrency. Created
by a blockchain development firm, it is the first blockchain based on a
research-based approach.
Cardano is an open source and decentralized
blockchain project designed to facilitate peer-to-peer transactions. It has a
layered architecture that facilitates smart contracts, enabling a platform that
is adaptable and scalable without compromising security.
8. NEO
NEO is both a cryptocurrency and a blockchain
platform designed to build a reliable and scalable network of decentralized
applications. Founded in 2014 as AntShares, it supports various programming
languages like C++ and Javascript using a custom version called Docker.
NEO is a blockchain designed to fully digitize
assets and identities through smart contracts for the broader goal of achieving
a smart economy. In the theory behind a smart economy, digital assets and
digital identities are considered essential to improving the quality of life
for everyone.
Whether NEO is a good crypto depends on your risk
tolerance, approach to cryptocurrency, and what you plan to use it for. It may
increase in value, or it may not. NEO is designed to give ownership and voting
rights in the network but also has a market value.
Long-term NEO price predictions are extremely
mixed although today, NEO is priced at 20 USD. It has a current circulating
supply of 70,538,831.00 NEO with a market cap of $1,416,859,484. In the last 24
hours, NEO has gained about 13%. The current price of NEO is $20.11.
As a matter of fact, yes. NEO is a bi-directional
product of wealthy scientist masterminds who have studied and worked on
blockchain for years. With a well-thought-out roadmap and vision, NEO is poised
to revolutionize the entire cryptocurrency world as a viable investment option.
NEO will break all price barriers remaining a favorite token on crypto
exchanges.
9. IOTA
The interesting thing about IOTA is that it is
not blockchain based. Rather, developers created what is known as a
"Tangle" -- a Directed Acyclic Graph (DAG) that requires new
transactions to confirm at least two previous transactions. Imagine this
interconnectedness of transactions spreading along a timeline and creating
something like a tangled web (thus, "tangle").
A key theme in this list is the idea that
competitive advantages and differentiation need to be highlighted when there
are over 16,000 listed cryptocurrencies. IOTA, provides this differentiation.
Launched in the year 2015 by a team of incredibly
talented people, IOTA aims to disrupt the cryptocurrency space. It plans to do
this with its unique approach to digital transactions. Almost every other
crypto came out promising to be more decentralized than others. Meanwhile,
IOTA's vision of providing free transactions (regardless of ticket size) on its
network has impressed investors. It has already signed deals with companies
like Deutsche Telekom, Fujitsu, and Microsoft. It has plans to become the
standard payment system accepted by startups and corporates alike. Don't be
surprised if it becomes the default payment system on the Internet of things.
This has been another important item on their roadmap.
As a cryptocurrency, IOTA has not proven to be as
volatile in terms of value as many other tokens. While this is good news for
those seeking more market stability and greater financial stability, it has
proven disappointing for investors looking to make initial investments in
Bitcoin, Ethereum, or other altcoins alike.
While the results were very clearly in favor of
IOTA as a more environmentally friendly cryptocurrency. Abbaszadeh Suri himself
acknowledges some of the limitations of his study. For example, there is no
calculation of IOTA nodes and IOTA coordinator energy consumption. And now that
we have an updated IOTA 1.5, which no longer has a coordinator node, these
calculations are less relevant.
10. TRON
Tron is one of the most popular Ethereum
competitors. Created by the most famous crypto crusader, Justin Sun. Tron was
intended to address many of the shortcomings faced by the largest smart
contract platforms. Unlike the Ethereum killer, however, Tron tried to take a
different approach to it. Instead of trying to replicate the entire Ethereum
ecosystem, he created an independent blockchain based on entertainment.
This TRON is also considered as a progressive
move in the coming years. Another important reason why TRON is on this top list
is that Tronix/TRX (which is the name of a cryptocurrency used in the Tron
network) is one of the ERC-20 tokens that made it successful.
Tron, a decentralized blockchain-based digital
platform, was released in 2017 by a non-profit organization. At the time of
writing, Tron has a market capitalization of about $6.6 billion. It is the best
crypto under a penny for investors looking to buy digital tokens with their own
independent blockchain.
Based in Singapore, TRON is a non-profit
organization and public blockchain that supports almost every programming
language. The peer-to-peer platform allows creators to share applications
directly on the blockchain, making the entire process more energy efficient.
TRON was founded in September 2017 by a
progressive non-profit organization from Singapore. The CEO of TRON is Justin
Sun. This TRON acquired Bit Torrent a few years ago, which is why we include
TRON in this top list of cryptocurrencies.
If you want to learn more about this topic, feel free to leave your
valuable comments. We are happy to assist you. All the best for your future.
(All the material
in this article is only the author's opinion, and could not be considered as
"Financial Advice")
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