A Few Facts About Bitcoin And Other Top Cryptocurrencies
Blockchain
14Jun 2018
Due to the numerous advantages of blockchain technology, the world has embraced cryptocurrencies. The technology is based on the bid to pull money out of the geographical boundaries and limitation and this led to the emergence of cryptocurrencies.
At inception, only a very few digital currencies were available but now there are more than 3000 digital currencies created on blockchain technology and more are still in the pipeline. However, some of the digital currencies are much more popular and valuable than others.
Some digital currencies are very valuable because of the awesome underlying blockchain technology behind their creation and some are not so valuable. Like other traditional currencies, their value can rise and drop too. However, their value cannot be controlled by government or a single body because of the decentralized nature of the blockchain technology.
Here are the top ten cryptocurrencies so if you want to acquire them as a store of value or for investment purpose, you should concentrate on only the ten of them since they are the most valuable ones.
Everyone who knows a thing or two about blockchain technology and digital currencies already know that Bitcoin is the most valuable cryptocurrency. Its popularity says it all. Do you know that Bitcoin is accepted in so many stores across Europe and America? Even Microsoft, a software giant accepts it for payments
In addition to that, Expedia.com, a notable online travel agency also accepts Bitcoin for booking of reservations. Bitcoin was created and released in 2009 by Satoshi Nakamoto. This is why the smallest fraction of Bitcoin is called Satoshi. Currently, Bitcoin market cap is way over $10 billion.
This figure is believed to be more than the total market cap of all the other digital currencies combined together. In fact, there are two types of digital currencies – Bitcoin and others. And the others are collectively called “altcoins” which means alternative coins. In summary, Bitcoin is the first, most popular, and most valuable digital currency and no digital currency comes close.
If you want to invest in cryptocurrencies, this should be your best bet. You can invest in others too but the value of Bitcoin rises so fast.
Ethereum is also known as Ether. Although it is not as valuable as Bitcoin, it has tangible value. It was launched as a single currency but an incident that occurred in September, 2016 led to a major change in the currency. The DAO was attacked and that led to the splitting of Ethereum into Ethereum (ETH) and Ethereum Classic (ETC).
It was created by VitalikButerin and it was launched in 2015. Currently, its market cap is about $1.1 billion. It is known for being suitable for peer-to-peer smart contracts. Using Ethereum, people can code and enact contracts without the intervention of any third party. Using Ethereum, you can set up a conference contract and allow the organizers to sell tickets and also set the maximum number of attendees. Most importantly, refunds can be provided automatically should it become necessary.
This digital currency was created in October 2011by Charles Lee, a former employee of Google. The currency can be mined and it can be used as payment for goods and services. Although its peak was $1.2 billion, its current market cap is about $180 million.
Litecoin has not faced any known major issue so it is shocking to see it contend with hard forks to its blockchain. A new cryptocurrency known as Litecoin Cash is already in the pipeline and in fact, its development is at the final stage. The Litecoin Cash is being developed by The Litecoin Cash Foundation, an organization that is not affiliated to the Litecoin’s development team in any way.
This development has become worrisome to current holders of Litecoin. One of the reasons Litecoin holders received the announcement of the new Litecoin Cash with surprise is that Litecoin does not have any issue with either confirmation time issues
Monero is private, secure, and untraceable. It is being private and untraceable makes people refer to it as an anonymous currency. Of course, there is nothing like and anonymous currency. It is the best currency for anyone that wants to hide his identity on the web. In other words, it is the best coin for anonymous users. Its market cap is about $138 million. Remember, it is known for privacy.
This digital coin was released in 2012 and it has been growing since then. It is very good for real-time gross settlement. Its market cap is $243 million. Due to the fact that it is cheaper to use, several banks and payment organization have integrated it into their systems.
The coin was initially made as a “joke currency” but it earned wide acceptance and became a real digital currency. It was released in December, 2013 by Billy Markus who is a programmer. For some reasons, it is usually sent as donations in fund raising campaigns. Currently, it is valued at $25 million dollars.
Dash:
It is believed that the term “dash” actually means digital cash. It was released as Darkcoin but it was rebranded later on. It currently has a market cap of $77 million. Since it is anonymous and fast, several merchants accept the coin.
MaidSafeCoin is also simply known as Safecoin. The SAFE in its name stands for Secure Access For Everyone. It is basically for safe network. A good number of apps now make use of SAFE network for secure data storage. In short, this currency is known for providing a secure data storage platform. Its current market cap is $39 million.
Lisk:
This is a crowdfunded cryptocurrency and this makes it particularly unique. The Lisk system can be used by anybody that is good in programming to develop his or her own decentralized app. This feature gives the currency its practical application value. It is being used for different types of decentralized apps.
In fact, it has been used to develop e-commerce stores, social media platforms and so many applications. Its current market cap is $25 million.
This coin was established in July, 2014. This is a decentralized, encrypted and open-sourced cloud data storage platform. Users need Storjcoin to gain access into the Storj network. Its market cap is $8 million.
Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.
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