Here are the top 5 cryptocurrencies under my radar. ( Curated based onseveral factors such as market cap, circulation volume, total volume, volatility etc)
Bitcoin is the world’s first blockchain-based cryptocurrency. It continues to be the world’s largest and best- known cryptocurrency to this day. Today bitcoin’s market dominance sits at around 55%, which means 55% of the entire market cap of cryptocurrencies comes exclusively from bitcoin. The market capitalization of the world’s top digital currency is more than $125 billion, with a price per coin of more than $3000.
According to a recent estimate, there are over 10 million Bitcoin wallets in existence across the world. With these many people invested in the technology and eager to utilize its easy and secure transactions, industry titans such as Amazon and McDonalds are planning to integrate Bitcoin payment systems in the near future.
Bitcoin transactions are conducted every day by ordinary people, while other coins like Ethereum are still a long way to reach adoption. The key reason Bitcoin so far ahead in value is because it is the trailblazer that is working to bring this new mode of currency and technology to the mainstream world.
Ether, It is the digital coin which started the rise of the initial coin offering(ICO). It is significantly smaller than bitcoin; the current market cap is just shy of $50 billion, with a trading price of about $100 per token. There are just over 100.7 million ETH tokens in circulation.
Ethereum is a technological milestone. Unlike the blockchain technologies that came before it, Ethereum is much more than a peer to peer payment system. It allows creating sophisticated smart contracts or agreements. The agreement can have few, to no middlemen. Ethereum helps to streamline agreements and provides exciting new opportunities for economic growth. Apart from this Ethereum can run apps that are similar to apps that are run on the computer or smartphone, but in a way that shares the blockchain unique ledger- like features.
Ripple, with a total market capitalization of more than $19.8 billion. The current price of each XRP token is just over 30 cents per token. But the total number of XRP in circulation is quite high. There are over 39 billion tokens in circulation right now.
Ripple is not another cryptocurrency trying to clone Bitcoin and Ethereum. It has blazing fast transaction speeds, settling payments in a matter of 3.5 seconds or less. Ripples underlying technology can be adopted by banks to replace current technology with blockchain-based alternatives.
It is not a traditional blockchain, although it does use a similar consensus algorithm, known as the Ripple Protocol Consensus Algorithm (RPCA). Distributed nodes use this consensus to prevent double spending and other fraud.
Bitcoin cash is a Bitcoin fork which was created by a minority group of influential miners, developers, investors and users. The total market cap of this digital currency is about $14.5 billion, with a market price of around $100 per coin and a total circulation of just over 17.2 million BCH.
One of the most pressing issues for the cryptocurrency has always been its scalability. More specifically, it’s been the size of a block of transactions, which upon the creation of Bitcoin was limited to one MB. This limit caused substantial delays in transaction processing times and limits the number of transactions the network can process. Bitcoin cash provides a solution to this issue. It increased the block size from 1MB to 8MB. Its overall goal is to increase the number of transactions that can be processed by the network, hoping Bitcoin Cash can compete with the volume of transactions that industry giants like PayPal and Visa can currently process.
EOS is a blockchain network and platform for decentralized applications built on Ethereum. It performs many of the same functions, but with greater capacity to conduct millions of transactions per second. EOS has a market cap of $7.83 billion and a total circulation of more than 896 million tokens.
Ethereum was the first blockchain to support the development of decentralized applications. EOSIO is colloquially known as the “Ethereum Operating System” because it adds a layer on top of Ethereum to make this dream of a dApp community a reality. As this is running on top of Ethereum, the EOS market value remains tied to Ethereum’s.
EOS has its own advantages that give Ethereum and other cryptos a run for their money. Parallel processing enables higher transaction speeds and more scalability. It can process millions of transactions per second thanks to the horizontal scaling. Apart from this, unlike its main competitor Ethereum, EOS doesn’t demand its users to pay for every transaction, it is free to transact.
EXPERT CURATED TOP 5 CRYPTOCURRENCIES
The top 5 cryptocurrencies listed above are curated based on several factors such as market cap, circulation volume, total volume, volatility etc. CONTACT US, If you’d like to review the full report.