Over the last several years, the number and popularity of digital currencies has skyrocketed. Cryptocurrencies have been called one of the “greatest technological breakthroughs since the Internet.” On the other hand, another description which follows cryptocurrencies is “black hole” into which investor’s money could just disappear. Either way, cryptos are here to stay, and in this article, we have listed the most popular cryptocurrencies at this moment, unveiling the top players in the cashless market.
Created and released in 2009 by Satoshi Nakamoto, Bitoin is the first cryptocurrency, the one that started it all.
Bitcoin owns the largest market share, hence it is the most popular option for investors.
Bitcoin’s price rose 700 percent since the beginning of the year, and today it has struck a new all-time high of $8,100.
Bitcoin is a payment system and a store of value. It works on a technology called blockchain, which is a distributed database that stores all the transactions on a network in chunks of data called blocks.
Ethereum is one of the best alternatives to Bitcoin, designed by a programmer called Vitalik Buterin. Ethereum is a decentralized platform for applications that run exactly as programmed, with zero chance of fraud. Ethereum is a platform build for smart contracts, with a market cap of more than $29 billion.
Dash (aka ‘digital cash’) is a cryptocurrency with a strong focus on privacy and speed. Dash provides more anonymity as it works on a decentralized master code network that makes transactions almost untraceable. Since its roll out in 2014, the cryptocurrency underwent rapid growth, especially in the past few months.
Launched in April 2014, Monero is an open-source virtual currency completely crowd funded and donation based. It is based on the CryptoNote protocol algorithm, which was invented to add numerous privacy features. In order to add these features, it uses a special technique ‘ring signatures.’
Litecoin is a cryptocurrency launched in 2011 by former Google engineer Charlie Lee. Litecoin is based on an open source global payment network which uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Litecoin has a faster block generation rate, and consequently offers faster transaction confirmation.