Cryptocurrency is no more an unconventional word. Over the decade, it has earned millions of investors and has become a trendsetter. It goes by different names -digital currency, virtual commodity, cyber currency, payment token, crypto token, electronic currency, and virtual asset. To define it, cryptocurrency is a type of virtual money that takes the form of ‘tokens’ or ‘coins’.
It is certain for the beginners to have difficulties understanding the cryptocurrency. An interesting aspect of the cryptocurrency is that it allows the users to directly transfer the value to a recipient anywhere in the world, without the need of any third party to facilitate the exchange. This, in turn, brings the possibilities for a great variety of solutions and improvements, especially in terms of money.
Best Cryptocurrency Coins,Ruling The Virtual World
Let’s take a look at the best cryptocurrency coins which are currently ruling the virtual world –
Introduced in 2009, Bitcoin was the first decentralized cryptocurrency. It was developed by an anonymous group of people or a person that goes by the name Satoshi Nakamoto. Over 6,000 altcoins (variants of bitcoin or other cryptocurrencies) have been created since the release of bitcoin. All in all, it is the best cryptocurrency to invest in.
Ethereum is a perfect tool for blockchain – application. The developers can build their own cryptocurrencies by using Ethereum’s platform. Also, there are several replicas of Ethereum, and Ethereum itself is a host to several Tokens such as DigixDAO and Augur. Hence, Ethereum is a family of cryptocurrencies.
To improve upon Bitcoin’s technology, Litecoin was developed in 2011. Litecoin is like a smaller brother of Bitcoin. The users tagged it like the silver to the digital gold bitcoin. It completes a transaction 4x faster than Bitcoin. Because of its close connection to Bitcoin, Litecoin continues to impress investors.
Also known as XRP, Ripple continuous to give tough competition to Bitcoin and Ethereum. The prime reason for XRP’s popularity is that it is not only a digital currency but also a payment system. It uses blockchain technology that makes international payments more secure and faster.
Dash originally stands for ‘Digital Cash’. Darkcoin or Dash is a more discreet version of bitcoin. An appealing feature of Dash is that it operates on a decentralized master code network making transactions almost untraceable.
Zcash is a decentralized and open-source cryptocurrency. Zcash offers extra privacy, security and selective transparency of transactions. The transactions are recorded and published on a blockchain but details remain private. The option of ‘shielded’ transactions allows the content to be encrypted using an advanced cryptographic technique or zk-SNARK (zero-knowledge proof construction).
Bitcoin cash (BCH)
BCH is one of the earliest and most successful hard forks of the original bitcoin. Launched in 2017, it exempts the issue of scalability related to Bitcoin. BCH increases the block size from 1 MB to 8 MB, hence larger blocks allow for faster transaction times.
Till date, Neo is the largest cryptocurrency that emerged from China. A major reason for NEO’s success has been keeping up with the programming in many existing languages – Go, Java, C++, and others.
Just like Ethereum, Cardano offers a platform for Dapps (decentralized apps) and smart contracts. Beyond that, Cardano aims to tackle some of the most pressing problems plaguing cryptocurrencies everywhere. To name a few -Interoperability and Scalability.
EOS was designed after Ethereum. Hence, it offers a platform where developers can build decentralized applications. EOS consists of EOS.IO that acts as the blockchain network for the digital currency as well as EOS coins.
Even after a decade, Bitcoin continues to stay ahead of other cryptocurrencies in terms of market capitalization and user base. The future of most of the cryptocurrencies is uncertain. Only time will tell which of the crypto will emerge as a winner. In a nutshell, cryptocurrencies can profit you but you should only invest in it if you are ready to lose.
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