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Popular cryptocurrencies

15/05/2018 00:00
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Popular cryptocurrencies: cheat note

In this article we are going to make kind of cheat note on the most popular cryptocurrencies. The info has been taken from CoinMarketCap. In future the situation is sure to be changed, and we will update our TOP-30 rating and continue our monitoring.

1) Bitcoin stands for first cryptocurrency. It has opened the world blockchain technology and became an alternative to USD, euro and other fiat money. It has enabled transactions conducting without intermediaries. Blockchain technology has made them faster, safer and cheaper. Recently it has been user→ bank → user. Blockchain has made it like user → user.

2) Ethereum stands for specialized trading site via which users can issue own cryptocurrency or create various applications, acting on blockchain basis.

3) Ripple stands for digital unit which makes a hybrid of cryptocurrency and traditional fiat money. Such combination makes this coin popular in bank sector and state structures of various countries.

4) Bitcoin Cash stands for the sub-type of Bitcoin. This coin version is characterized by greater security, speedy transactions and more ample blockchain. If 1 BTC block contained 1MB of data, the Bitcoin Cash block contains up to 8 MB of data.

5) Litecoin stands for another sub-type of Bitcoin. This cryptocurrency almost has no difference from Bitcoin in frames of structure and functions. The only difference lies at the fact of faster acceptance processing and conducting of all coming transactions.

6) Cardano stands for cryptocurrency, which has united the features of Bitcoin and Ethereum. This coin uses more advanced programming language — Haskell. This makes Cardano blockchain network more fast, ample and functional.

7) Stellar stands for decentralized network enabling fast, safe and profitable conducting of transactions with foreign currencies. Just an example you need to send USD but have only Bitcoins in your wallet. In such case Stellar network will select optimum exchange rate, perform conversion and make transfer. Stellar is considered to be main competitor of Ripple

8) IOTA is a cryptocurrency which has been initially thought for “Internet of Things” maintenance. Its main specific trait lies at interior protocol, built on the basis of Tangle technology. Tangle i more advanced version of blockchain. In future its development might cause zero commissions, instant transactions and unlimited option of transferred information.

9) NEO is a Chinese competitor of Ethereum. This platform is considered to be software network enabling to create smart contracts in all known programming languages. It is considered that in future NEO technologies will prompt the development of entire blockchain industry.

10) Dash stands for digital coin built on the basis of DarkSend technology. DarkSend is a complex cryptography protocol increasing the safety of conducted transactions and makes them completely anonymous.

11) Monero is an anonymous safe cryptocurrrency, which is impossible to be tracked. It differs from Dash and other similar projects by the protocol of data encryption — CryptoNote. This protocol hides both the information about sender and receiver and the sum of payment.

12) NEM is a fast protected network, reminding Ethereum based on its functional options. It has a capacity for independent restoring and system errors removal. This cryptocurrency has been developed for the solution of business tasks in economy real sectors: this platform enables the issuance of tokens or development of personal system adapted for company needs. Users get reward for coins storage and regular transactions.

13) Ethereum Classic is an original version of Ethereum project. This coin has appeared in 2016 after successful hacker attack ended in the theft of 50 million USD from investors’ accounts. The founder of cryptocurrency Vitaly Buterin offered to reverse blockchain and return lost money. Those who supported initiative moved to Ethereum platform. Those who disagreed used Ethereum Classic platform.

14) Qtum is a digital platform which is a combination of Bitcoin reliability and Ethereum universality. The system differs by master contracts, which are more functional than Ethereum platform smart contracts

15) Bytecoin is a first anonymous cryptocurrency, functioning on the basis of CryptoNote algorithm. The Bytecoin has been exactly the reason of Monero currency appearance. The system uses secured protocol and round signature protocol, hiding the possibility to keep track conducted transaction. Coin is attractive by low transactions and favorable conditions for mining.

16) Lisk stands for the platform of decentralized applications development, which reminds Ethereum on the basis of its functional capacities. Lisk has been written with convenient programming language JavaScript and uses side-chain technology during launching of each new project. It works in the following way: software engineers develop new application → new project has the option of independent development and does not influence Lisk platform in any way. Ethereum system has difficulties with it: software engineers develop new application → all smart-contracts are fixed at blockchain→ platform’s virtual machine reloads, works slowly and has difficulties with scalability.

17) Bitcoin Gold is another sub-type of Bitcoin. It differs by interior algorithm of data hashing. Inserted changes make overall Bitcoin network more decentralized and allow casual users to mine cryptocurrency at video charts.

18) Verge is an anonymous decentralized coin, which managed to get to the listing of all large-scale cryptocurrency stock exchanges without large scale ICO conducting. This cryptocurrency has good technical basis, traders like it and is a main competitor of Ripple based on its functional capacities.

19) Nano is a cryptocurrency which might become digital money of the future. It reminds Bitcoin based on its functional capacities. The difference lies at more advanced technological base and blockchain interior architecture. It provides Nano users with fast, safe and free transactions.

20) Zcash is an anonymous cryptocurrency which allows large scale venture funds to hide their capitals in off-shore zones. Each conducted transaction is removed from network and developers’ team provides math warranty that all conducted transactions are impossible to be tracked.

21) Steem stands for calculation unit of social media, in which each user can get reward for the creation of content. Everything is simple the more popular your article is the more cryptocurrency you can get. This platform is oriented to Western audience so 90% of information is published in English.

22) Siacoin is a decentralized platform which stands for safe and cheap data storage. In future cryptocurrency developers plan to make revolution in the sphere of data cloud storage, which will allow all network participants to earn at the account of PC capacities rental. I.e. you can get reward for allowing other users to store encrypted information at your PC. Second party wins due to the fact that Siacoin storage rental is 10 times cheaper than Google service.

23) Wanchain is a decentralized trading site allowing other users to develop various blockchain applications. It goes about another Ethereum analogue. The main specific trait of Wanchain lies at specific protocol allowing the synchronization of created applications with blockchain applications, developed on the basis of other similar platforms. For example, we are going to unite two applications: the first one is created at Ethereum site, while other has been created at NEM site. All we need to do is to launch Wanchain platform and have no difficulties in this process.

24) BitShares stands for digital currency of first large scale cryptocurrency stock exchange, built on blockchain basis. Project has transparent decentralized structure, which can compete with all modern trading sites and exchangers. The main advantage of BitShares lies at the fact that it can’t be closed or limited in operation by any state department.

25) Bitcoin Diamond is another sub-type of Bitcoin cryptocurrency. It differs from Bitcoin by lowered commissions fees, increased data block (up to 8 MB) and faster network operation.

26) Stratis stands for ecosystem for the development of decentralized applications, reminding Lisk platform on the basis of actions. The main specific trait of this project lies at the fact that any commercial organization can contact Stratis team and move their business to blockchain. And users have no need to hire developers and purchase equipment. Stratis team will perform all works “turn-key”.

27) Waves stands for an improved option of Ethereum project. Waves platform provides the possibility to organize ICO, develop new tokens, exchange cryptocurrency, safely store and pay minimum commission fee for transactions.

28) Decred is an improved version of Bitcoin cryptocurrency. This coin has more decentralized structure and available for mining at video charts. Its additional specific trait lies at the fact that developers team agree all technical solutions with Decred users community.

29) Bitcoin Private stands for hybrid digital unit, formed after the fusion of Zclassic and Bitcoin. This has resulted at the appearance of “speedy anonymous Bitcoin” — fast decentralized coin enabling to hide conducted transactions.

30) Dogecoin stands for cryptocurrency, the interior architecture of which has been completely copied from Litecoin. Initially this coin has been issued for fun. Though high market capitalization level has caused the fact that investors have started active mining and usage of Dogecoin as a reliable payment system.

The world of cryptocurrency is constantly developing and brings something new, so stay with us and remember to subscribe to our pages in FacebookTelegram  news feed channel and YouTube  channel to stay in touch about all updates of cryptocurrency world!

 

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