Bitcoin
is not only a trendsetter, delivering waves of cryptocurrency built on a
decentralized peer-to-peer network, but it has also become the de facto
standard for cryptocurrency, inspiring legions of followers and growing
spinoffs.
What
is Cryptocurrency?
"Crypto"
in cryptocurrency refers to complex cryptography that allows certain digital
tokens to be generated, stored and transacted safely and, usually, anonymously.
Along with the important "crypto" feature of this currency is a shared
commitment to decentralization; cryptocurrency is usually developed as code by
the team that builds mechanisms for publishing (often, though not always,
through a process called "mining") and other controls.
1. Litecoin (LTC)
Litecoin,
launched in 2011, was one of the earliest cryptocurrency after bitcoin and is
often referred to as "silver for bitcoin gold." It was made by
Charlie Lee, an MIT graduate, and a former Google engineer. Litecoin is based
on an open-source global payment network, which can be translated with the help
of consumer-class CPUs. Although Litecoin is like bitcoin in many ways, it has
a faster block inhibition rate and this is the reason it offers faster
transaction confirmation. In addition to developers, there are more and more
traders who accept Litecoin. As of February 9, 2019, Litecoin has a market
capitalization of $ 2.63 billion and a value per token of $ 43.41.
2. Ethereum (ETH)
Ethereum
Launched in 2015, It is a decentralized software platform that enables Smart
Contracts and Distributed Applications (DApps) to be built and run without
downtime, fraud, control or interference from third parties. Applications on
ethereum are run on platform-specific cryptographic tokens, ether. Ether is
like a vehicle for moving on the ethereum platform and is sought after by most
developers who want to develop and run applications inside ethereum, or now by
investors who want to make purchases of other digital currencies using ether.
During
2014, ethereum launched pre-sales for ether that received an extraordinary
response; this helped usher in the era of early coin bidding (ICO). According
to ethereum, this can be used to "codify, decentralize, secure and trade
anything." After the attack on DAO in 2016, Ethereum was split into
Ethereum (ETH) and Ethereum Classic (ETC). As of February 9, 2019, Ethereum
(ETH) had a market capitalization of $ 12.49 billion and a value per token of $
118.71.
3. Zcash (ZEC)
Zcash,
a decentralized and open-source cryptocurrency launched at the end of 2016,
looks promising. "If bitcoin is like HTTP for money, zcash is HTTPS,"
is one analogy that zcash uses to define itself. Zcash offers privacy and
selective transaction transparency.
Zcash
offers its users a "protected" transaction option, which allows
content to be encrypted using sophisticated cryptographic or knowledge-free
construction techniques called zk-SNARK developed by his team. As of February
9, 2019, Zcash had a market capitalization of $ 291.25 million and a value per
token of $ 49.84.
4. Dash (DASH)
Dash
is known as darkcoin. It is a more secret version of bitcoin. Dash offers more
anonymity when working on a decentralized master code network that makes
transactions almost traceable. Launched in January 2014, the dash experienced
the following fan increases in a short span of time. This cryptocurrency
developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015,
'Darkcoin' was renamed Dash, which stands for "digital cash" and
operated under the DASH ticker. R rebranding does not change the functionality
of its technology features including DarkSend and InstantX. As of February 9,
2019, Dash had a market capitalization of $ 640.76 million and a value per
token of $ 74.32.
6. Monero (XMR)
Monero
is a safe, private and traceable currency. This open-source cryptocurrency was
launched in April 2014 and immediately attracted great interest among the
community and cryptographic fans. The development of cryptocurrency is entirely
donation-based and community-based. Monero has been launched with a strong
focus on decentralization and scalability, and allows complete privacy by using
a special technique called "signature ring."
With
this technique, a group of cryptographic signatures appears including at least
one real participant, but because all of them appear valid, the original cannot
be isolated. Because of exceptional security mechanisms such as this, Monero
has developed a bad reputation; has been linked to criminal operations
throughout the world. Even so, whether it is used for good or sickness, it
cannot be denied that Monero has introduced important technological advances
into the cryptocurrency space. On February 9, 2019, Monero had a market
capitalization of $ 808.50 million and a value per token of $ 48.18.
7. Bitcoin Cash (BCH)
Bitcoin
Cash holds an important place in altcoin history because Bitcoin Cash is one of
the earliest and most successful hard forks of genuine bitcoin. In the world of
cryptocurrency, a fork occurs as a result of debates and arguments between
developers and miners.
When
different factions cannot reach an agreement, sometimes the digital currency is
split, with the original remaining with the original code and other copies
beginning to live as a new version of the previous coin, complete with changes
to the code. Bitcoin cash began its life in August 2017 as a result of one of
these schisms. The debate that led to the creation of BCH was related to the
issue of scalability; bitcoin has a strict limit on block size, 1 megabyte. BCH
increased the block size from 1MB to 8MB, with the idea that a larger block
would allow faster transaction times. It also made other changes as well,
including the removal of the Separate Witness protocol which affected block
space. On February 9, 2019, BCH had a market capitalization of $ 2.23 billion
and a value per token of $ 126.49.
9. Cardano (ADA)
Charles
Hoskinson, one of the founders of ethereum, launched cardano in September 2017.
For supporters of this digital currency, ADA offers all the benefits of
ethereum, as well as many other things. Cardano offers a platform for Dapps and
smart contracts, like ethereum before. In addition, ADA aims to solve some of
the most pressing problems that are plaguing cryptocurrency everywhere,
including interoperability and scalability.
Cardano
also hopes to address issues related to international payments, which are
usually timely and expensive. Thanks to its focus on this area, ADA can take
international payment processing time from days to just seconds. As of February
9, 2019, Cardano has a market capitalization of $ 1.16 billion and a value per
token of $ 0.041.
One
of the newest digital currencies on our list is EOS. Launched in June 2018, EOS
was created by the cryptocurrency pioneer Dan Larimer. Before working at EOS,
Larimer founded Bitshares digital currency exchange and a blockchain-based
social media platform, Steemit. Like the other cryptocurrency on this list, EOS
was designed after ethereum, so it offers a platform where developers can build
decentralized applications. EOS is famous for many other reasons.
First,
the first coin offering is one of the longest and most profitable in history,
reaching a record $ 4 billion in investor funds through a year-long
crowdsourcing effort. EOS offers a delegated proof of ownership mechanism that
is expected to offer scalability beyond its competitors. EOS consists of
EOS.IO, similar to computer operating systems and acts as a blockchain network
for digital currencies, as well as EOS coins. EOS is also revolutionary because
of the lack of a mining mechanism to produce coins. Instead, block producers
produce blocks and are rewarded in EOS tokens based on their production level.
EOS includes a complex system of rules to govern this process, with the idea
that the network will eventually be more democratic and decentralized than
those in other cryptocurrency. As of October 5, 2018, EOS has a market
capitalization of $ 2.49 billion and a token value of $ 2.74.
10. EOS (EOS)
One
of the newest digital currencies on our list is EOS. Launched in June 2018, EOS
was created by the cryptocurrency pioneer Dan Larimer. Before working at EOS,
Larimer founded Bitshares digital currency exchange and a blockchain-based
social media platform, Steemit. Like the other cryptocurrency on this list, EOS
was designed after ethereum, so it offers a platform where developers can build
decentralized applications. EOS is famous for many other reasons.
First,
the first coin offering is one of the longest and most profitable in history,
reaching a record $ 4 billion in investor funds through a year-long crowdsourcing
effort. EOS offers a delegated proof of ownership mechanism that is expected to
offer scalability beyond its competitors. EOS consists of EOS.IO, similar to
computer operating systems and acts as a blockchain network for digital
currencies, as well as EOS coins. EOS is also revolutionary because of the lack
of a mining mechanism to produce coins. Instead, block producers produce blocks
and are rewarded in EOS tokens based on their production level. EOS includes a
complex system of rules to govern this process, with the idea that the network
will eventually be more democratic and decentralized than those in other
cryptocurrency. As of October 5, 2018, EOS has a market capitalization of $
2.49 billion and a token value of $ 2.74.
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