Top cryptocurrencies according to market capitalization.
May 11, 2018 Posted / 167 Views
Many cryptocurrencies have been developed after the rise in the Bitcoin value in the year 2017. Almost more than thousands of cryptocurrencies are competing with each other in order to become most widely used. They were originally initiated in order to solve many of the bottlenecks that the Bitcoin and few others major cryptocurrencies faced. Let us have an overview of some of the top Cryptocurrencies, sorting them in descending order of their market capitalization.
Bitcoin was the first decentralized cryptocurrency developed in the year 2009. It provided a base for many industries to implement the concept of Blockchain Technology in ample of other fields. Also, it's methodology to curb the tampering of the data in the Blockchain is commendable. Bitcoin is the very original form of decentralized cryptocurrency because it originally has no owner at all. Whereas any other cryptocurrency has some of the other organization owning it.
It is a platform that is based on the Blockchain Technology but slightly different than the Bitcoin. It even supports the creation and implementation of the smart contracts. It was originally put forth in late 2013 by Vitalik Buterin. The value of this cryptocurrency experienced a gain of almost 13000% in 2017.
It was created in the year 2012. It mainly aims at providing seem less and secures global transaction of any value with a minimal amount of transaction fee. It has been adopted by various banks as their payment methods due to their amazing settlement infrastructure. It has also been criticised for not being completely decentralized, ie it has a few core verification nodes for the transaction consensus.
A hard fork took place on August 1, 2017, from Bitcoin. As a result, the Bitcoin distributed Ledger split into two. It gained a lot of attention even more than Bitcoin itself. This fork created a confusion in the people's mind as to which one is the original Bitcoin. Many top crypto exchanges like Coinbase, Kraken, Bittrex, Binance, etc. have adopted Bitcoin cash.
It is a cryptocurrency token which is used to control the smart contract platform for the usage of the decentralized applications. It solved many of the scalability issues that was existing in Bitcoin and Ethereum, also incorporating no transaction fees. With a market cap of about $15.6 billion, it has spiked into the fifth position since it's initiation in the year 2017.
This particular cryptocurrency is very similar to the Bitcoin that offers peer to peer digital transactions. It processes the transactions in 2.5 minutes rather than taking 10 minutes as of Bitcoin. In November 2013 the currency reached the market capitalization of $1.3 billion. In May 2017 the first lightning network transaction was completed by using litecoin. 0.00000001 LTC was transferred from Zurich to San Francisco in just one second.
These were some of the top currencies which are speculated to be used widely in the future for all the transactional purposes.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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