When the vast majority of people hear the word “cryptocurrency”, they immediately think about Bitcoin. But participants of the market and more advanced users know that nowadays there a lot of different tokens and coins (1960 items to be exact). In this article let’s speak about the most popular cryptocurrencies which are the most prominent ones.
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This cryptocurrency was heard about by everyone, it is a progenitor of digital coins. Nowadays Bitcoin occupies over 55% of the capitalization the cryptocurrency market. As of 17 September 2018, Bitcoin capitalization is almost 109 billion USD.
The most important problem of the coin is scaling. As the user base has increased, sometimes there can be transaction delays, which can last for several hours, even for a day, in some cases.
Bitcoin is one of the stablest coins (except stablecoins), for example, during fundamental correction in 2018 it lost about 70% of its highest price so that most altcoins fell by 80% and even 90%. It should be noticed that most cryptocurrency investors prefer Bitcoin. The coin has the widest dissemination among other cryptocurrency.
Ethereum has the most innovative technological base it is often named cryptocurrency 2.0 or the currency of “smart contracts”. The coin was created in 2015, nowadays it ranks second in the global rating CoinMarketCap with the capitalization level of a little more than 21 billion USD.
The main feature of this cryptocurrency is the possibility to create tokens on its basis. The launch of Ethereum has provoked a boom of new decentralized projects and the growth of all cryptocurrency market.
Another important part of the platform Ethereum is the support of smart contracts, which can be involved almost in any sphere of activity. The mediator is not required, because smart contract will be a fair referee two parties.
Ethereum’s bandwidth s bigger than the other coins have. The generation of new blocks takes up 10-15 seconds, whereas it takes 10 minutes for bitcoin. The main problem of Ethereum is the inflation which is 10% per year. The team of developers is solving this problem, they are planning the migration to PoS protocol, it will help to drop inflation rate.
Ripple is the fastest cryptocurrency in the world, it can make about 50 thousand transactions per second, for example, bitcoin makes 7 transactions per second. This coin is in Top-3, now its capitalization is a little less than 11 billion USD.
This coin can’t be mined, the project isn’t decentralized, it’s a little bit contrary to cryptocurrency principals. The main function of the Ripple is the implementation in the banking sector, the increasing of transaction’s speed and cost-saving for its carrying out. For instance, the average bank which makes 300 thousand transactions per year, using Ripple technology, will be able to save 1 million USD. This project already cooperates with several largest banks in the USA, this proves that it works.
This coin is “an improved” version of Bitcoin. The core of Litecoin is a somewhat modified to original code of Bitcoin. Such coins are called hardfork. Such refined clones of BTC include Bitcoin Cash, Litecoin, Bitcoin Gold etc.
Now the coin ranks seventh with general capitalization of more than 3 billion USD. Litecoin is digital money for fast transactions.
The thing is that the generation of a new block takes up four times less than the time in original Bitcoin.
This is the most popular coin in the Darknet (the hidden part of the net). The thing is that Dash is absolutely anonymous cryptocurrency. For example, all data about users’ transactions are published in a register of Bitcoin. Making transactions in BTC, it is impossible to count on total anonymity. Another feature of Dash, transactions’ data aren’t published in blocks of this coin. Operators are responsible for their processing they get the rewards for it.
The main difference of cryptocurrency NEM is a unique protocol Pol (Proof of Importance). Only users who takes part in system’s life and also have better reputation can generate blocks more often.
Nowadays NEM ranks 18th in the global rating of CoinMarketCap with the capitalization of 763 million USD.
This year was painful enough for cryptocurrency market, its total capitalization decreased by 4.5 times, many coins lost 70-90% of their value. Now pessimism and despair prevail in mass media. It doesn’t mean that it is the end for cryptocurrency. If we analyze it carefully, we will come to the absolutely opposite conclusion. Experts estimate that cryptocurrency will be an integral part of lives of hundreds of millions of people all over the world in he nearest 5-10 years. To reach this goal, a lot of work should be done. Now we can say with full conviction, that blockchain and cryptocurrency are development vector of human civilization, at least for the nearest decade.
Almost two thousand tokens and coins are represented at the digital coin market. Certainly, the vast majority of them aren’t valuable, but there is a small percentage of a real crypto brilliants which are able to make revolution in different spheres.
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