Cryptocurrency – The Digital Currency

Cryptocurrency or digital currency is a kind of currency that is built with cryptographic protocols that makes the transaction secure and difficult to fake. This digital currency is designed to work as a medium between financial transactions using strong cryptography to secure and verify the transfer of assets.

The most important feature of cryptocurrency is that is not controlled by any central authority which makes it immune to old ways of government control without any interference. Cryptocurrencies make the transaction easier using the private keys for privacy and security purpose, making it impossible to fake the currencies.

Whenever people hear cryptocurrency, they think that the whole cryptocurrency is about Bitcoin, which is wrong. Bitcoin is not the only cryptocurrency but a type of cryptocurrency. Bitcoin is a widely used cryptocurrency but other digital currencies deserve the list as well. Here are the lists of top 5 cryptocurrencies besides Bitcoin that have made a huge impact on the coin market

Etherium has been ranked #2 in the coin market with a price of $259.29USD. The market cap of Etherium is $27,605,993,939USD. Etherium is a smart platform that enables developers to build decentralized apps conceptualized by Vitalik Buterin in 2013. Etherium was launched in 2015 that is used by developers to run DApps without any fraud, downtime or interference from the third party.

The price of Etherium has increased from the last few years making it the #2 in the coin market.

Etherium is the most traded Cryptocurrencies which is also home to ERC20 protocol. Etherium technology makes it home to a large number of tokens under it and sold through initial coin offerings or exchanges all over the world.

Ripple was launched in 2012 which became a huge real-time global settlement network that offers instant low-cost international payments. Ripple is unique from Bitcoin and other coins as well, as it doesn’t require mining, making it consume less computing power and minimizes network latency. Ripple holds the position of #3 in the coin market, making it the most bestselling coin from the rest.

Ripple is considered the dark horse of digital currency by many traders due to its main target field are financial institutions.

Litecoin was created by Charlie Lee, an MIT graduate, and former Google engineer. Litecoin was launched in 2011 and was based on an open-source of global network payment that was not controlled by any central authorities. Litecoin uses “script” for their work which can be further decoded with the help of CPUs of consumer-grade.

Litecoin is very much like Bitcoin, but with a much faster block generation rate along with faster transaction confirmation. Litecoin holds the position of #4 in the coin market due to its market cap of $2.63 Billion.

Litecoin is possibly the most invested digital currency due to the large list of businesses accepting it as a payment for products and services. Litecoin has faster block times than Bitcoin (BTC) along with speedy transactions making it equal to Bitcoin’s gold.

Bitcoin Cash holds a position of #5 in the coin market as well as in the history of altcoins because it is one of the earliest and successful parts of the original Bitcoin. Bitcoin Cash was introduced in August 2017 due to a debate that occurred between the miners and developers. The debate was due to scalability as Bitcoin has a strict limit of 1MB size of blocks and thus they created Bitcoin Cash with an increased block size of 8MB.

Bitcoin Cash has a market cap of $2.23 billion with an average value of $126.49 per token.

Bitcoin Cash is the product of debate and argument between developers and miners. BCH split from the main chain to create the best alternative for BTC. Many people thought that BCH won’t run after getting split from BTC but BCH remarkably took the position of #5 in the coin market proving to be the best alternative for BTC.

EOS is the new digital currency that was launched in 2018, which was created by cryptocurrency pioneer Dan Larimer. This digital currency remarkable holds to position #6 even after getting newly launched. EOS is designed after Etherium, which makes it similar by offering a platform on which developers can build decentralized apps (DApps).

EOS has one of the longest and most profitable histories in the field of digital currency, making a record of $4billion investor funds through crowd-sourcing efforts lasting a year. EOS is a software that introduces a block-chain of architectural design to enable vertical and horizontal scaling of decentralized applications.

Want to invest in cryptocurrency? Check the stats and market for each coin and make sure to let us know your choice.