Wondering about the top 10 cryptocurrencies according to market capitalization? Just take a look and learn a little more about each one:
#1: Bitcoin (BTC):
Bitcoin is not only the coin with a higher market cap as it is also the original cryptocurrency. Even though it was already valued higher, the truth is that it is resistant to fraud. Their great reputation, wide user base, and enforced scarcity have made Bitcoin stay as the leader until now.
There is a finite number of Bitcoins: exactly 21,000,000, 14,000,000 of which have been mined to date.
The worth of the Bitcoin was of $0,03 at its beginning and now oscillate between $2000 and $3000.
#2: Ethereum (ETH):
Ethereum, conceived in 2013, is, many times, called as the Bitcoin 2.0. And this is because you can also mine it, trade the underlying unit (ETH), and it operates off a blockchain. These are the similarities. However, besides being a coin, it’s a lot more than that.
From January 2017 to June 13, Ethereum’s price increased by more than 4800%, from roughly $8 to $395. This sharp increase has taken place as the broader cryptocurrency space had attracted significant capital inflows, raising almost $7bn in value in Q1 2017.
#3: Ripple (XRP):
Ripple is a completely different kind of cryptocurrency. Ripple is not meant to be exchanged directly for services and goods. Instead, you can use it to convert one currency into another one, immediately, and you don’t even need to rely on a central exchange.
Ripple XRP was created by a Startup named Ripple. There are a total of 100 billion XRP, each priced about 26 cents. The $26 billion of total value is second among cryptocurrencies, behind Bitcoins, which is evaluated at $41 billion. Ripple owns about 61% ($16 billion) of XRP.
#4: Litecoin (LTC):
Even though Litecoin doesn’t introduce anything really new to the market, the truth is that we need to mention the fact that new blocks of transactions are verified and posted every two minutes. This means they are less likely to attacks.
The total limit on Litecoin is 81 million, four times higher than Bitcoin.
#5: Ethereum Classic (ETC):
The Ethereum Classic is derived from the above mentioned Ethereum. Overall, the Ethereum Classic offers all the features that Ethereum does like the decentralized applications as well as the creation and deployment of smart contracts.
#6: Dash (DASH):
Dash was able to introduce a lot of innovations into this market. While some aim to improve the system functioning, others aim the increase of the anonymity.
The main purpose of the Dash creators was to make sure that there was a high level of anonymity while using Dash as a kind of electronic cash.
Dash is an attempt to make cryptocurrency accessible to regular people. A wallet as for the Bitcoin is not necessary.
#7: NEM (XEM):
Launched just in 2015, NEM us a blockchain and peer-to-peer cryptocurrency platform. They were the ones responsible for the introduction of the Eigentrust++ reputation system, encrypted messaging, multi-signature accounts, and proof-of-importance (POI) algorithm.
NEM price increase by more than 2000% in 2016, from $0.000165 to $0.0037.
#8: IOTA (MIOTA):
IOTA is a non-profit and a completely open source organization that emerged with the goal to deal with the problems with offline transactions, scalability, and transaction costs. They see themselves as the Internet of Things in this market since they are trying to improve the blockchains’ security without increasing the fees.
#9: Monero (XMR):
Launched in 2014, Monero is also an open source cryptocurrency that aims to improve the anonymity of those who are interested in trading cryptocurrencies this way. In order to do this, Monero uses ring signatures that combine public keys they get from their blockchain and user’s account keys. This way, an outside observer just can’t make the link between a user and their signature.
#10: Zcash (ZEC):
Zcash is just another player who’s goal is to increase the privacy. In order to achieve it, they use their zk-SNARKS where users can easily exchange information without revealing their identities. On top of this. the currency’s blockchain will never disclose the value of any transaction.
Read more on where to purchase these coins here.