Cryptocurrency Coins

Despite their volatile nature, cryptocurrencies are one of the most popular forms of trading and investment.

Since Bitcoin's emergence, people have been raving about cryptocurrencies, and millions of people have flocked to the field as cryptocurrencies have become popular. Although Bitcoin remains the most valuable cryptocurrency in terms of market capitalization and user population, there are other other prominent cryptocurrencies that are gaining popularity on a daily basis.

Ethereum (ETH)

Ethereum is a cryptocurrency that was established by blockchain enthusiasts Joe Lubin and Vitalik Buterin. It is one of the most popular and stable cryptocurrencies (current CEO of ethereum). It is a decentralized platform that enables the usage of smart contracts and distributed applications (dapps) without the need for any third-party downtime, fraud, control, or interference.

Ethereum is a versatile financial asset that anyone from anywhere in the globe may access. Ethereum has been a godsend to some nations with limited governmental infrastructure, allowing citizens to access bank accounts, loans, insurance, and other financial services.

The cryptographic token used to use ethereum is called ether, and it runs all ethereum applications. Ethers, which debuted in July 2015, are the second-largest cryptocurrency in terms of market valuation, after only Bitcoins.

Many software developers that wish to create applications for the Ethereum network require ethers to execute them. Many investors also use ethers to purchase other digital currencies.

According to Investopedia, the market value of 1 ETH is $2,236 at the end of May 2021, while the market capitalization of ethereum has increased by more than $250 billion in April 2021, according to Statista.

Tether (USDT)

Tether is one of the first stable coins that has received a lot of traction due to its $1 value. Stablecoins are cryptocurrencies whose market price is linked to a currency or other external reference point to reduce volatility.

Cryptocurrencies are well-known for their erratic volatility, which may result in massive profits or losses for investors. As a result, there is insecurity and apprehension about investing. Stable coins, such as tether, try to mitigate all of these oscillations. Tether was created with the intention of always being worth $1, with $1 set aside for each tether freed.

Tether touts itself as "a blockchain-enabled platform meant to facilitate the digital use of fiat currency." This coin, in essence, allows users to use a blockchain network and related technologies to transact in traditional currencies while avoiding the volatility and complexity associated with digital currencies.

Tether is the third-largest cryptocurrency by market capitalization. According to Yahoo Finance, the current market value of 1Tether is 1.0003 USD, with a market capitalization of more than 61 billion USD.

Binance Coin (BNB)

Binance coins are used as a payment method for the amount spent on trading on the Binance exchange. Binance is one of the fastest-growing cryptocurrency exchanges, and traders must use.

Binancecurrencies as a token to purchase other crypto coins. Binance coins are becoming more popular and powerful as a result of the ongoing exchanges conducted through them.

Changpeng Zhao designed it, and it was originally an ERC-20 token that was used on the Ethereum platform. It eventually had its own primary net launch. Binance raised $32 million in 2018 for a stable coin initiative.

Binance is the fourth most valuable cryptocurrency in terms of market capitalization. The price of 1 BNB is roughly $330, with a market worth of more over $55 billion USD, according to coin market cap.

Cardano (ADA)

Cardano is a low-cost cryptocurrency that was launched in 2015 as an experiment by a group of engineers, mathematicians, and cryptographers. It quickly acquired market traction due to its "Ouroboros proof-of-stake" strategy, which effectively let it to use two blockchains instead of one.

The primary idea behind having two blockchains is that one would handle regular transactions and the other will handle smart contracts. Cardano will be scalable and speedy as a result of this. Cardano is known as the "Ethereum Killer" since it uses the proof of stake algorithm and its blockchain can do far more than Ethereum.

According to Yahoo Finance, the current price of one Cardano is $1.3, with a market valuation of roughly 41 billion USD, making it the market's fifth largest cryptocurrency.

Litecoin (LTC)

Litecoin, also known as the "silver to Bitcoin's gold," was launched in 2011 and was one of the first cryptocurrencies to follow in bitcoin's footsteps. Litecoin is based on an open-source, decentralized global payment network that use "scrypt" as a proof of work that can be decoded using consumer-grade CPUs.

Litecoin has a faster block generation rate, which speeds up and simplifies transactions. Miners find it easier to mine because the average time for mining litecoin is 2 minutes.

According to Yahoo Finance, one litecoin costs $145.55 and has a market capitalization of more than $9 billion. In terms of market capitalization, it is the 14th largest cryptocurrency.

Bitcoin Cash (BCH)

Bitcoin Cash is one of the original Bitcoin currency's early hard splits. A hard fork is a dramatic change to a network's functionality that allows previously invalid blocks and transactions to become legitimate or vice versa, and it occurs as a result of disagreements between developers and miners.

As a result of the digital currency split, Bitcoin cash was created in 2017. Because multiple organizations cannot agree on a specific change made to the token, digital currencies are split.

Following the split, the original chain remains true to the original code, while the new chain's code is modified. The debate that led to the creation of Bitcoin cash was about sustainability; the Bitcoin network has a limit on the size of blocks, with each block being 1 MB. BCH increases the block size from one MB to eight MBs, with the premise being that larger blocks are more secure.

Polkadot (DOT)

Polkadot was created in 2017 by Gavin Wood. It is a one-of-a-kind proof-of-stake coin with the goal of being compatible with different blockchains. Its key component is the relay chain, which allows different networks to connect with one another. It also allows for the establishment of "parachains," or secondary blockchains with their own native currency, for unique use cases.

Polkadot differs from Ethereum in that developers can construct their own blockchain while still utilizing the security that Polkadot's chain currently provides.

Polkadot is one among the less expensive cryptocurrencies. The price of one DOT is $19 USD, according to the coin market cap, with a market size of $19 billion USD. According to market capitalization, it is the ninth most valuable cryptocurrency.

Chainlink (LINK)

Chainlink is a decentralized communication network that connects Ethereum smart contracts to data outside of the blockchain. Blockchains do not have the ability to securely connect to external apps. Chainlink's decentralized overseers allow smart contracts to interact with external data, allowing contracts to be completed based on data that Ethereum does not have access to.

It was created in 2014 by Sergey Nazarov and Steve Ellis, although it wasn't released until 2017. On the company's blog, a range of use cases for Chainlink's technology are detailed.

Monitoring water sources for contamination or unauthorized hiving in specific communities is one of the several use cases described. Sensors can be added to monitor business usage, water tables, and the levels of local bodies of water.

A Chainlink oracle might track this data and send it directly into a smart contract. The smart contract might be set up to execute penalties, send flood warnings to cities, or punish firms that use too much of a city's water based on the incoming data from the oracle.

The price of one LINK is $23 USD, with a market capitalization of around $10 billion USD, according to coin gecko.