Top 25 crypto coins
As 2022 rolls on, despite all the wild fluctuations, one thing remains certain: blockchain technology has captured the imagination of developers, entrepreneurs, and investors around the world.
Blockchain is being hailed as a “magic bullet” that will revolutionize every aspect of our lives – from data storage to car ownership to medical records to online privacy. If you’re not convinced, just read on to discover the nine ways that blockchain is changing the world.
The first and most important thing that we need to do is to get a big-picture understanding of what it means for technology to be decentralized. A centralized technology means that there is one main hub where all of the information is being controlled and processed. In a decentralized system, there are multiple hubs that control information simultaneously.
One of the major examples of centralized technology is social media. A few large companies have been given access to all of our data, which they process for targeting advertisements. Blockchain decentralizes this through encryption – your data remains yours because it’s stored in decentralized hubs. This means that social media can exist without large companies controlling it – because it’s not centralized, there is no one main hub that has all the data being processed.
Blockchain’s decentralization goes beyond just information storage – many startups are working towards peer-to-peer sharing of electricity through renewable energy, effectively creating decentralized grids. This could be a major factor in transitioning towards a sustainable energy future.
Here are the top 25 crypto coins
Bitcoin was the first use of blockchain technology, and it remains to be a leader in the industry. It has grown tremendously over its relatively short lifespan – going from under $1K per coin at the end of 2017 to a massive ~$15K by early 2018.
It’s important to note that bitcoin isn’t actually being used for everyday transactions because of its high transaction fees, so it’s become more of a store of value. Nonetheless, bitcoin has remained number one on the list and is likely to stay there for a while – its security system has not been compromised once in its almost ten years of existence.
Ethereum is another popular blockchain technology in the decentralized industry. It’s a platform for building smart contract applications, which in turn run on a custom-built blockchain.
In 2017, Ethereum had an astronomical rise from less than $10 per coin to almost $400 by mid-December. However, it has since fallen to the #2 spot behind bitcoin and is likely to remain there into mid-2018.
Ripple is a real-time gross settlement system (RTGS), currency exchange, and remittance network. The goal of the platform is to allow for more efficient transactions between parties through the use of blockchain technology. Similar to bitcoin, Ripple has plans to make its coin used in everyday purchases, including movie tickets or food. This is an ambitious goal given that there are over 100 billion ripples in circulation, each with a value of ~$0.20 at the time of writing.
4. Bitcoin Cash
Bitcoin cash was created when bitcoin investors became frustrated by high transaction costs – this spinoff splits blocks into 8MB instead of 1MB, allowing for faster processing times similar to ether transactions which don’t get bogged down by scalability issues.
Like Ethereum, Cardano is a decentralized public blockchain and cryptocurrency project. It’s built from scratch, meaning that it’s not an offshoot of existing projects like bitcoin and Ethereum. The platform uses a proof-of-stake system and plans around smart contracts, decentralized applications (DAPPs), and side chains for scaling purposes.
Litecoin was developed in 2011 by Charlie Lee after seeing the success of Bitcoin; however, Litecoin differs from its predecessor in several ways, namely transaction times – 2.5 minutes compared to 10 minutes on the bitcoin network, confirmation times – around 2.5 minutes as well, mining rewards – four times that of bitcoin, and lastly, the total number of coins – 84 million compared to 21 million on bitcoin.
NEO was previously known as Antshares but rebranded in 2017 after a successful year of growth and development. It’s often referred to as the “Ethereum of China,” likely because it is utilized by smart contracts and DAPPs for blockchain technology just like Ethereum. However, it has an additional focus on digital assets that can be used for identification purposes. One of its main goals is to incorporate digital assets into everyday transactions, similar to Ripple’s mission with their coin XRP.
EOS’ slogan says everything: ” Decentralize Everything .” Similar to NEO, it’s a platform for building decentralized applications. Additionally, EOS has greater transaction speeds and no transaction fees – you only need to own the coins in order to access the network.
9. Stellar Lumens
Stellar Lumens is another blockchain technology that was originally based on Ripple before eventually becoming its own entity. Stellar Lumens utilizes the proof-of-stake consensus mechanism, which means there are no mining rigs required, making it much more cost-effective than mining bitcoin or Ethereum. It also aims to be faster than other major cryptocurrencies like bitcoin by processing transactions in 2-5 seconds, with plans for even faster transaction times in future updates.
Monero is an open-source cryptocurrency created in 2014 that focuses on privacy and decentralization. Monero utilizes ring signatures, a type of cryptographic signature that can allow multiple transactions to be sent with the same key, making it extremely difficult for someone to track any single transaction from beginning to end. The degree of anonymity depends solely on how much you wish to hide your identity since all transactions are still recorded in the blockchain.
Dash is a cryptocurrency that was originally known as Darkcoin before rebranding in 2015 because the community felt it better represented a focus on privacy and anonymity payments rather than shady dealings. It does this through an optional transparency feature called “PrivateSend,” which uses its own form of coin mixing to make transactions untraceable. For PrivateSend to work successfully, multiple master nodes must combine their efforts in order to successfully hide information within the blockchain.
12. Ethereum Classic
Ethereum Classic is a result of a hard fork that occurred on the Ethereum network due to a disagreement about how developers should handle a hack that occurred during the original Ethereum crowd sale back in 2014. The modern form of Ethereum took a more pragmatic approach to deal with issues such as this, but many members of the community felt it went against everything blockchain stands for, so they decided to stick with what was originally stated in the whitepaper. Thus, ETC was born. Since then, it’s grown exponentially and currently sits at around $20 right now.
IOTA is another cryptocurrency that grew out of an initial coin offering (ICO) in 2015. Like most cryptos, its primary goal is to become the de facto standard for machine-to-machine transactions. However, it’s notable because, unlike most other cryptocurrencies which rely on the blockchain, IOTA uses something called Tangle, which requires users to authenticate their own transaction by confirming two other transactions within the network. This also means there are no transaction fees associated with sending MIOTA tokens.
TRON was founded by Justin Sun, who has already amassed quite a following on social media due to his work promoting his previous projects like Peiwo and the Tron Foundation itself. It aims to decentralize content publishing and streaming, with the end goal of making the internet a more open platform. This also means anyone is able to publish their own content with no regulatory oversight.
TrueUSD is a cryptocurrency that uses the same technology as Tether, which has become an extremely popular cryptocurrency among traders over the past few months. It’s pegged to the USD rather than being its own currency, so it does not carry any of the volatility associated with existing cryptocurrencies. Furthermore, anyone who holds TUSD will be able to file a legal claim if they ever need to exchange their coins for fiat currency.
OmiseGO is one of those cryptos you’ll hear lots about but may have trouble understanding what it actually does until now! Simply put, OmiseGO seeks to help people complete financial transactions without having to go through traditional financial institutions.
NEM is a cryptocurrency designed to help users track and monitor all activity taking place on the blockchain. One reason it’s gaining so much recognition lately is that it was introduced as a way of rewarding those who contribute their own computing power to the NEM network rather than just those who invest large sums of money into mining equipment. This approach may be part of what makes this currency so appealing in terms of long-term investment strategies.
18. Binance Coin
Binance coin is the official cryptocurrency of the popular Binance exchange, which has recently gained a lot of notoriety due to its extremely low trading fees. Because Binance is essentially acting as an intermediary between all transactions, it’s reasonable to expect demand for this coin will stay high for long periods of time.
You can’t have a list of top cryptocurrencies without shouting out the Doge! In fact, Dogecoin was initially designed as a joke – something that allowed users to send and receive coins based on popular memes. Although it’s still not nearly as valuable as Bitcoin, its market value has grown exponentially over the past few months, and any other crypto priced under a dollar has tremendous potential for growth.
Waves seek to create a platform that allows anyone to issue their own token, which powered the initial coin offering funding over $16 million in early 2016. This is important because it will give regular people access to global financial markets without having to go through traditional exchanges like Bittrex or Binance.
21. KuCoin Shares
KuCoin Shares are essentially tied to the success of Kucoin. As more people use the exchange, the value of KCS will likely increase due to its token-based architecture. However, if too many users start trading on competing platforms – say something like Robinhood, which recently introduced cryptocurrency trading – then it’s likely that KuCoin’s appeal will drop.
VeChain is an interesting cryptocurrency that uses the blockchain to track items throughout their lifecycles, allowing businesses to tailor their products to customer needs more easily.
Bitcoin was one of the first cryptocurrencies outside of Bitcoin or Ethereum to gain significant mainstream adoption. It’s known for its anonymous transactions, which are achieved through an innovative consensus algorithm that applies low-latency privacy using ring signatures.
Through the use of zero-knowledge proofs, Zcash encrypts all transaction data by default while still publicly displaying the amount being transferred on the blockchain.
Waltonchain is one of those cryptos with a name that might have you scratching your head until you realize it refers to Charlie Walton, the inventor of RFID technology. Waltonchain’s goal is to combine this tagging system with blockchain to provide companies with better supply chain management solutions.
These are just some of the most important cryptocurrencies that you may want to consider investing in if you’re really looking to benefit from large gains in the near future. Again, each offers something different when it comes to both position on the market and unique features, so do your own research before deciding which currencies deserve your hard-earned cash.