Have you heard this word cryptocurrency before? You must have heard about this global phenomenon because in this world of digitalization nothing can be hidden from you for a long time. But the question is what cryptocurrency is? Let's get to know about it. We'll also let you know about its usages.
In a simple definition, cryptocurrency is a currency that you cannot touch because it’s completely digital. Noone can counterfeit this currency as it has a robust security feature. Diverse computer networks distribute this blockchain based decentralized system. There are many cryptocurrency services like Bitcoin, Ethereum, Ripple and more. Although it's not an integral part of some countries, cryptocurrency has already created a measure bust globally. Each people of cryptocurrency market is expecting an alighted Bull Run. So, Crypto companies are working hard to get their job done. Though Crypto market is not able to give a large trending amount in the past year people still get interested in this market because these companies are working to make peer-to-peer transactions much smoother than before. They are focusing on making it more adaptable for the users. Here are the top 10 cryptocurrencies that are most famous in the global market right now. Without wasting time let's check out the details of them.
1. BITCOIN (BTC)
Bitcoin is the most popular in the cryptocurrency in the world. This digital currency came into existence ten years ago when a group of friends introduced a white paper. They named it Bitcoin. In some years when they had a grip on cryptocurrency, they launched a new system called blockchain. With the help of this superb system, they could make payment through various countries even worldwide without any uncertainty. These transactions didn't need the help of the local banks. In today's time whenever we think about the cryptocurrency network, Bitcoin is the first name that comes in our mind, isn't it? That's because Bitcoin is one of the fastest growing cryptocurrency networks in the world that only considers verified transactions. They had scaling issues before. But they solved it gracefully.
The most reliable and sophisticated cryptocurrency networking Bitcoin is the best option to start your venture. They are looking forward to a great bull run this year. Bitcoin has already set its standards high. So, we can also expect a great Bull Run this year by Bitcoin. Two reasons are there behind it. The first one is unmistakably its faster transaction speed. The second one is, of course, its scalability. Industrial investors are looking forward to investing in Bitcoin. This kind of combinations and coordination skills make them one of the best cryptocurrencies in the world. But you have to keep in mind that it will take time to take the grip of this market.
2. Ethereum (ETH)
This cryptocurrency is founded by Vitalik Buterin. But the Ethereum Foundation manages the blockchain. Etheraum is the second generation of this blockchain network. It follows precisely the same PoW model that is followed by Bitcoin. But there is a difference between these two currencies. With its excellent capability of making smart contacts and payments without any disturbance makes it a fabulous crypto platform.
Etheraum uses its own application called EVM or Etheraum Virtual Machine that allows it to balance and create smart contacts. The customers of Etheraum are also free to propose their Crypto projects on this superior platform called ERC20. ERC20 is the most used program in the world introduced by the ISO. Etheraum is coming with various updates. How can we forget it's the latest update, Constantinople? They'll launch it soon. The only problem is it is also facing the same problem that is the lack of scalability exactly like Bitcoin. But according to the founder, they'll solve it soon.
3. Ripple (XRP)
The Ripple XRP is a common name in the cryptocurrency industry. After Bitcoin, they are also looking forward to making a great bull run this year. Ripple is a platform with exceptional guidelines.
While Bitcoin is facing some software issues, the Ripple software is already capable of 1500 transaction per second. This one is one of the significant advantages of this digital currency. They have the blockchain facility with excellent transaction speed. So, Ripple will be an excellent choice for the investment in cryptocurrency this year. Ripple not only manages a thousand customers per second but also making diverse global bank partners which makes them one of the accelerated transaction gateway systems in the world. Some of the most celebrated names who are the partners of Ripple are American express, MoneyGram, and Swift. They want to lessen their transaction fees. That is why we will soon see them with RippleNet as a partner too. It's a comprehensive global network of payment.
4. STELLAR (XLM)
This one is a cryptocurrency network that is capable of making new partners. We don't have the 2019 roadmap of Steller. So now we can post pictures based on what Stellar accomplished in 2018.
We have encountered many similarities between Ripple and Stellar. One of the most similar things between these two digital currencies is they are both looking forward to making a partnership with leading corporations. Stellar is now building a partnership with the IBM which is one of the leading brands in the industry of computer. Stellar is open source software which can be used as cross border transfers. They are also the partner of Vumi. This one is an open-source platform which is used to send messages. You'll be amazed to know that Vumi uses an unusual currency that is cellphone talk time. Apart from that Stellar made a partnership with many big names like Oradian, Deloitte, etc.
5. Bitcoin Cash (BCH)
In spite of not having a great Bull Run in 2018, Bitcoin cash snitched an impressive position. This superior digital currency is looking forward to making its bull run in 2019. So, Bitcoin developed there 2019 road map by introducing three parts of it. The three parts are scaling, extensibility, and usability. It makes bitcoin cash more user-friendly than before. They have just one dream to reach every people in the world. They have already set their goals. The first one is reaching over 5,000,000 Tx/s from 100 Tx/s. The second one is minimizing the transaction time. It should not be over 3 seconds. The last but not least they want to prepare an extensible protocol. It'll help them to complete expected updates effortlessly. Bitcoin cash likely to introduce a new updated media next year called coin shuffle. It'll give the users the opportunity of having an extra layer of privacy and transactional data without any additional charges.
6. Litecoin (LTC)
Litecoin is one of the most popular cryptocurrencies in the world and similar to Bitcoin. Charlie Lee founded this currency, Litecoin. He was a Google employee. This open-source digital currency is designed in such a way that it can give the users adequate control of their finances. It offers more facilities than Bitcoin. It also allows additional control to our finances than the other cryptocurrency networks. For example, it has a considerable amount of coin limits which gives it more daily usability than Bitcoin. Higher transaction volumes with reduced time converted it into one of the dominant options for the investors. Litecoin is growing fast over 25% then the Bitcoin industry for the past years. That's because this network protects the users from the attacks of double-spending as well with their faster transaction time. It is even difficult to mine. Litecoin is now considered as the world’s largest currency with over $1 billion transactions.
Tether is another great yet controversial cryptocurrency. The best thing is this digital currency is stabilized. That means the value of this coin cannot fluctuate. The ration of this currency and US Doller is 1:1. It means one Tether coin equals to one USD. Tether Limited issued this coin. Tether Limited issued this coin. This one is also the world's second most easy standard cryptocurrency network, and it is tied up with bitcoin by exchanging cryptocurrency. Once people called Tether a scam. That's because this company failed to live up their commitment. It is said that they tried to manipulate Bitcoin's price. Bitfinex exchange's relationship with this currency is not clear to the users. They didn't even have a banking relationship for an extended period. So the investors started losing confidence in Tether. But it fought with all these allegations. Now it is the world's second highest volume cryptocurrency network, just one step less than Bitcoin.
8. Bitcoin SV
Bitcoin SV is the most newly introduced cryptocurrency network in the world. It came into existence after Bitcoin. But it has claimed that this is the original version of Bitcoin. Bitcoin SV has produced more effortless ways to use the blockchain network. This one is much safer than Bitcoin. That is why this superb digital currency is more measurable to users. It allows users to use tokenization, smart contact, and different exciting features like automatic swap and so on. All these features make it an excellent choice for investors.
This one is also one of the controversial coins like Tether. They claimed it to be the original Bitcoin. But the crypto community never admitted it for the lack of evidence. Craig Wright wanted to design a new Bitcoin which was known as Bitcoin Classic. We are also waiting for the future performance of this digital currency. For now, it claims to be a stable and secure blockchain.
9. Cardano (ADA)
Cardano has a detailed road map even better than all cryptocurrency networks we have discussed. They also have a countdown meter for the next update of their roadmap. Charles Hoskinson founded this superior digital currency. The Cardano team wants to maintain a high standard of communication with the market. In short, they want their users to stay up-to-date. That is why they invariably release videos about their projects.
They are planning to release Shelley. This one is a complete decentralized ecosystem. You'll be happy to know that this decentralized ecosystem claims to handle a thousand stake pools. So the users will get different comprehensive options which can be operated by the users effortlessly. Now they are trying to concentrate on creating a great user-friendly interface. This platform has many similarities with Ethereum. It also claims to be the third generation blockchain. They thoroughly focus on security by improvising a layered architecture.
10. Tron (TRX)
Tron is an excellent cryptocurrency network. The Tron foundation manages it. This company has already set its 6-stage plan. It recently introduced the stage two in early 2019. Tron can process more 2, 000 transactions per second without any problem. Their primary aim is to decentralize the network. That is why you'll always find this company in the news. They are a great companion to Ripple. Tron founders aim to make it the most stable cryptocurrency network. It also provides some gaming apps. You must have heard about a peer-to-peer sharing platform, BitTorrent. Tron is the home of this platform. It also helps in creating and distributing content.
Tron is likely to introduce ERC20 token soon which is mostly used by the Industrialists. Even Tron Industrialists aim to launch TRC 10/20 tokens to support other cryptocurrencies. They are also interested in releasing this token because they know it can make them one of the most popular cryptocurrency networks in the world.
These are not only the list of the top ten cryptocurrencies in the world but also the world's quickest growing projects. Some of these cryptocurrencies including Ethereum, Bitcoin, etc., have billion dollar market capacity. They are the real leaders and dominate this market. Apart from that many more new currencies are on the way to give them tough competition. You can take the example of Cardano, Dash, IOTA and so on. They have already gained tremendous popularity among the users and the developers. The prices of some of these cryptocurrencies have dropped severally. But still, they gave excellent performance in the last year. How can we forget the names of Bitcoin, Ether, EOS, and XRP? The investors give importance to the security of these digital currencies. Apart from that, they concentrate on transition time. It should be as less as possible. We tried to provide all the information in this article so that you can make your decision without any uncertainty.
I have completed my Master's degree in English Literature. I have been working as a content writer for last 3 years. Now I can say that I am a successful entrepreneur and a responsible marketer. I have achieved everything with my hard work, honesty, and dedication. Though I can write about any topic, blockchain and crypto industry attract me the most. I have started my career as a blockchain writer. Gradually, I gained more experience in this field.