Want to invest in cryptocurrency? If so, you should have some information about the world’s top 10 Cryptocurrency.
These are the Top 10 Cryptocurrency in the world based on market capitalization or the total value of all coins.
Let’s know about cryptocurrency, decentralized cryptocurrency, and the Top 10 Cryptocurrency.
What is Cryptocurrency?
The definition of cryptocurrency is that the system does not need a central authority.
The term cryptocurrency comes from the encryption techniques used to secure a network.
It will use strong cryptography to secure a record of transactions.
The transaction fee for cryptocurrency is mainly based on the supply of network capacity and the demand of the currency holder.
What is Decentralized Cryptocurrency?
Decentralized cryptocurrency allows for direct peer-to-peer cryptocurrency transactions.
Therefore, decentralized exchange (DEX) does not require an intermediary.
Bitcoin is a decentralized digital currency. It does not require any intermediaries.
It can be sent from user to user on a peer-to-peer bitcoin network.
Bitcoin can use as an investment.
The word Bitcoin was defining in a white paper and published on October 31, 2008.
Bitcoin is decentralized because:
- Bitcoin does not have a central authority
- There is no central server
- The ledger is public
- Anyone can store it on their computer
- Anyone can be a miner
Source Code: https://github.com/bitcoin/
Market Cap: US$811 billion
Code: BTC, XBT
Exchange Rate: Floating (very volatile)
Ethereum is a decentralized and open-source blockchain system.
Ether is the native cryptocurrency of the platform.
In cryptocurrency, ether is second only to bitcoin in market capitalization.
Ethereum was conceived in 2013 by programmer Vitalik Buterin.
You can buy Ethereum at some of the largest markets include:
Source Code: https://github.com/ethereum
Market Cap: $410,027,547,799.32
3. Binance Coin
Binance Coin launched in July 2017. It is the largest cryptocurrency exchange globally in terms of daily trading volume.
Changpeng Zhao is the founder and CEO of Binance. A company that provides cloud-based exchange systems to exchange operators.
It is a unique ecosystem of decentralized, blockchain-based networks.
Binance will support trading pairs in the following coins:
- NEO (ANS)
- BNB (Binance Coin)
Source Code: https://github.com/binance-exchange
Market Cap: $66,306,291,168.87
Cardano is a proof-of-stake blockchain platform. Its goal is to bring about a positive global change to transformers, researchers, and dreamers.
Charles Hoskinson was the founder of Cardano. He was also the co-founder of Etherium.
He is the CEO of IOHK. The company created Cardano’s blockchain platform.
Cardano is one of the largest blockchain systems. It uses the Proof of his consensus method.
It is less energy-intensive than the Bitcoin-based algorithm.
Source Code: https://github.com/cardano-foundation
Market Cap: 68.443B
Fiat-pegged cryptocurrencies are called tethers.
Tethers are issued on the Bitcoin blockchain through the Omni layer protocol.
It can transfer, stored, charged once a tether is issued. Like Bitcoins or any other cryptocurrency.
Tether has the following advantages over other Fiat-pegged cryptocurrencies:
- Tethers exist on the Bitcoin blockchain
- It can use just like bitcoins
- Tethers inherit the properties of the Omni Layer protocol
- Tether issuance or redemption will not face any pricing or liquidity constraints.
- Users can buy or sell as many tethers.
- The process is quick and with low fees.
Market Cap: $69.43 billion
It is necessary to understand the difference between XRP, Ripple, and RippleNet before get started.
XRP is a currency that runs on a digital payment platform called RippleNet.
RippleNet is at the top of the distributed ledger database called the XRP ledger.
RippleNet runs by a company called Ripple.
The XRP laser is open source and not blockchain-based
It can be directly sent to anyone else from any XRP ledger address. Without the help of an intermediary liquidity provider.
Ripple Protocol Components:
- Last-Closed Ledger
- Open Ledger
- Unique Node List (UNL)
Source Code: https://github.com/ripple
Market Cap: $51,049,381,488
Solana is an open-source project. It is implementing a new, high-performance, unlicensed blockchain.
The goal of Solana architecture is to show that software is a set of algorithms and is used in conjunction with blockchain to implement them.
It then removes the software as a performance constraint, allowing the transaction throughput to scale proportionally with the network bandwidth.
Solana cluster is a group of independently owned computers that work together to verify the output of unreliable, user-submitted programs.
Source Code: https://github.com/solana-labs
Market Cap: $43,692,143,363
Polkadot is the next pay generation blockchain protocol.
It allows sending any type of data between any type of blockchain.
Polkadot is a sharded blockchain.
This means that they can connect multiple chains to a single network, allowing them to perform parallel and data exchange processes between chains with a guarantee of security.
Polkadot has four core components:
- Relay Chain
Polkadot was founded by the Web3 Foundation. Its founders are Dr. Gavin Wood, Robert Habermeier, and Peter Czaban.
9. USD Coin
The Center plans of the USD coin is to create a network to manage the creation and redemption.
The flow of these assets under a new organization is independent and separate from the Circle.
USDC is accepting as many wallets, exchanges, service providers, and dApps as possible.
Source Code: https://github.com/centrehq/centre-tokens
Market Cap: $33,019,547,335
Dogecoin is an open-source peer-to-peer digital currency. Dogecoin (DOGE) is based on the popular “Doge” internet meme.
Billy Marcus, Oregon, and Jackson Palmer are the creator of Dogecoin.
It was withdrawn from Lightcoin in December 2013.
Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.
You can sell or buy dogecoin on any exchange that offers digital currency. And store it on the exchange or in a dogecoin wallet.
Source Code: https://github.com/dogecoin/dogecoin
Market Cap: $29,412,782,937
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