Top 5 most popular cryptocurrencies – EthexBet
The list of five most popular cryptocurrencies in the world. Let’s look closer at every project!
With over a decade of blockchain, the scene has become a fierce battle of blockchain protocols. Who deserves the digital throne?
The first association that arises in most people’s minds when they say cryptocurrency is Bitcoin. However, other blockchain protocols compete with the leader of the digital assets industry. Today, we will talk about the 5 main flagships of cryptocurrencies.
It doesn’t matter what happens in the crypto market. So far, one thing remains the same — Bitcoin has a dominant position in all spheres of decentralized technology. This is the first cryptocurrency developed by a person (or group of people) under the pseudonym of Satoshi Nakamoto. It gave rise to all the other digital assets, so it can rightfully be considered an “original blockchain”, meaning that it is the best option to invest from all digital assets.
Until now, Bitcoin remains the most popular coin among both traders and miners. In addition, the price movement of all other cryptocurrencies depends on the BTC price. If Bitcoin starts to get cheaper, the rest of the market is also falling into the abyss.
Yet, Satoshi Nakamoto’s creation has some disadvantages. Bitcoin’s production time is 10 minutes, so sending transactions in BTC takes much longer than with traditional payment systems. And yet, it is profitable to use BTC as a store of value. In other words, Bitcoin is digital gold.
Ripple — centralized instrument for banking
Ripple was created to increase the speed of banking operations and reduce their costs. The calculator on Ripple’s official website shows that if the bank’s turnover is $5 million and the number of transactions is $300 000 per year, you can save $3.4 per transaction. A year the bank can save more than a million dollars.
Ripple technology is already being used by the Bank of America, HSBC. Unlike bitcoin and ether, Ripple’s cryptocurrency cannot be “mined” (extracted). This is a centralized system where all digital money already exists and belongs to one company — Ripple Lab. Currently, there are more than 38 billion units of cryptocurrency.
If cryptocurrencies like Bitcoin require empty mathematical calculations to “slow down” the creation of new blocks, Ripple Lab issues the cryptocurrency as useful calculations — the processing of scientific data from different universities.
Litecoin appeared in 2011, the coin was developed by former Google engineer Charlie Lee. Litecoin is Bitcoin’s hardfork. Both cryptocurrencies have very similar code and other properties.
One of the few differences between Litecoin and Bitcoin is the speed of transaction processing — it is faster than in Bitcoin network. If blocks are created every 10 minutes in Bitcoin, it is faster in Litecoin — almost every 2.5 minutes. That’s why Litecoin can process more transactions than the Bitcoin system. The number of LTC is limited and cannot exceed 84 million units.
Litecoin has gone through the second halving in its history this August. After this procedure, the mining reward for every LTC block has been halved in size.
Stellar — the fastest payment system
The Stellar protocol is an open-source digital payment system aimed at developing markets. The main feature of Stellar is very fast transactions with almost zero fees. Stellar uses the Stellar Consensus Protocol, which uses quorum slices and the Federated Byzantine Agreement algorithm.
The creators of the project claim that the cryptocurrency can process about 10 transactions per second. In this case, each transaction consists of thousands of transactions, i.e. the actual bandwidth of the Stellar network is much higher. Over time, prominent firms such as IBM (in 2017) and Deloitte (in 2016) have partnered with the Stellar team and are using its protocol.
Ethereum — the most useful crypto
Ethereum offers convenient solutions for launching applications, raising funds and creating smart contracts. All this is based on blockchain. The system uses its own programming language and its own means of payment and mutual settlements — the ETH coin.
The growth of ICO projects in 2017 was due to the possibility of a faster launch of a new coin or technology. First of all, Ethereum reduced the complexity of such operations to a minimum, simplifying the process itself and reducing its cost.
Thus, ETH has become an easier platform for launching new projects, which is why it is so popular.
If in the Bitcoin system transactions are carried out for a very long time, the Ethereum speed is increased by more than a hundred times. Compared to other cryptocurrencies, Ethereum is no longer considered to be a progressive and advanced technology, but it remains a well-proven system with many errors fixed.
Today ETH price is $187. In 2018 this cryptocurrency had a hard time falling from an all-time high price near $1400 to $150. Ethereum recovered nicely in the last few months, giving us hope for сontinued price growth in the future. Ethex.bet is your best way to earn more cheap ETH before the next bull run. Visit our website, place your bet and try to win our Superprize!
Published at Sat, 09 Nov 2019 11:48:50 +0000