Crypto is exploding
Cryptocurrency is growing in popularity, and it’s important to stay informed. Here are the top crypto coins that you need to know about:
Bitcoin is the most well-known cryptocurrency, and it’s also the most valuable. It was the first cryptocurrency to hit the market, which means it has a large market cap. Bitcoin is also a proof of work coin, meaning that miners use their computing power to verify transactions on its blockchain (the public ledger of all bitcoin transactions).
Bitcoin’s use as an investment vehicle has been controversial, but many people do use bitcoins for daily purchases such as buying food at restaurants or purchasing airline tickets online. The supply of bitcoins is limited—there are only 21 million in circulation now—which creates scarcity and drives up value over time as familiarity grows and demand increases.
Ethereum is a blockchain-based cryptocurrency that was created in 2013 by Vitalik Buterin, who was only 19 years old at the time. It functions as a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference.
The Ethereum team decided to build their own blockchain technology from scratch instead of using Bitcoin’s because of its limitations. The biggest difference between Ethereum and Bitcoin is that Ethereum supports smart contracts. Smart contracts allow you to store information about an agreement or transaction on the blockchain so it cannot be changed once it has been processed by all parties involved in the contract/agreement/transaction (this capability also makes possible other uses with it like decentralized apps).
Another thing that makes Ethereum different from Bitcoin is that you don’t need direct access to an Internet connection in order to send funds via Ether or ERC20 tokens; instead you can use your mobile phone’s 4G signal through text message services provided by companies like Vodafone Group Plc., O2 UK Ltd., Telefonica SA Telecoms Group Spain SPA Telecoms Spain SPA and more than 150 others worldwide.
Tether is a cryptocurrency that’s been around since 2014, but it has recently experienced a surge in popularity. Tether is designed to act like the dollar, so people looking for a safe investment can use tether as an alternative to their local currency. The idea behind tethering is pretty simple: each unit of the coin represents one US dollar, while its blockchain tracks each transaction and updates the price accordingly.
To accomplish this feat, Tether uses what’s known as “on-chain” technology—each user deposits money into their account and receives tokens back (in USDT format). These coins can then be transferred directly between users or cashed out by selling them on an exchange that trades USDT for other cryptocurrencies like bitcoin or etherium (or even fiat currency).
Chainlink is a decentralized oracle network that allows smart contracts to securely interact with off-chain resources like data feeds, various web APIs, and traditional bank payments. Chainlink’s design allows it to be highly resistant against attacks, even if the majority of its nodes were to be compromised in one way. The project’s ICO raised $33 million in August 2017 and became one of the top funded ICOs at the time.
Polkadot is a blockchain protocol that allows for the creation of new blockchains. It’s an heterogeneous multi-chain technology that allows for the creation of new blockchains.
Polkadot is a platform built on top of Ethereum and its main purpose is to connect different chains together through its parachain architecture. It has two layers: the consensus layer and the relay layer (formerly known as “bridge”). The consensus layer constitutes a set of nodes that reach consensus between each other in order to verify transactions and add blocks to their respective chains; while the relay layer acts as a bridge connecting different chains by passing messages between them.
Litecoin is a peer-to-peer cryptocurrency that was developed by Charlie Lee and launched in October 2011. It is a fork of bitcoin, meaning it’s based on the original bitcoin code but has some modifications. The purpose of Litecoin was to provide a digital currency that could transfer money faster than bitcoin and at lower costs.
The digital currency has a maximum supply of 84 million coins, compared to Bitcoin’s 21 million coins. All litecoins are generated through mining processes; miners use computing power from their computers (or ASIC chips) to solve complex mathematical problems which verify transactions on the network and generate new blocks. The miner who first solves this problem receives 50 newly created litecoins as well as transaction fees attached to those transactions in exchange for verifying them into blocks on the blockchain ledger (a public ledger where all transactions are stored).
Bitcoin Cash is a cryptocurrency that split from bitcoin in 2017. It is a peer-to-peer electronic cash system, with no central bank or single administrator.
Bitcoin Cash was originally announced at the Future of Bitcoin conference in Arnhem, Netherlands. The founder of Bitcoin Cash is Roger Ver who had been an early investor in bitcoin startups such as Blockchain and Ripple.
Cardano is a decentralized public blockchain and cryptocurrency project. It’s the first blockchain platform to evolve out of a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. Cardano is developing a smart contract platform that seeks to deliver more advanced features than any protocol previously developed.
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open-source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.”
Ripple is built on an open source Internet protocol that enables any person or institution to create and use their own money without intermediaries. The network itself consists of thousands of servers around the world that maintain ledgers where all the account balances are stored.
Cryptocurrency is growing in popularity and it’s important to stay informed.
Cryptocurrency is a digital currency that uses encryption to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. A cryptocurrency is difficult to counterfeit because of this security feature. Cryptocurrency is also virtually immune to seizure by law enforcement or having transaction holds placed on them. This can be contrasted with bank accounts, which are more exposed to seizure due to governmental regulation.
Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, which serves as a public financial transaction database.
I hope this list of the best cryptocurrencies has given you a little insight into some of the most profitable and promising coins on the market today. As always, remember that investing in crypto is risky, so do your research before buying any coins or tokens.