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Most Popular Cryptocurrencies Available in the Market
Cryptocurrency has witnessed a huge boom lately and most of the people are trying to have some experience with it as the fear of missing out on this experience takes a hold. Although, bitcoin is the most popular cryptocurrency among the mass, there are a lot of other similar cryptocurrencies that promise the same and much more. With so many choices available in the market right now, choosing a favourite cryptocurrency is a difficult task. Other than this, cryptocurrency have come under criticism too. Its introduction has risen questions like “Is it capable of bringing wave in the future in terms of smart contact?” or “Should cryptocurrencies become decentralized supercomputers?” Also like any other assets, the value of the cryptocurrency is subjected to market risk. Here are top ten cryptocurrencies and what makes them different:
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• Bitcoin- Regarded as the father of all cryptocurrencies, bitcoin started it all and in some years created the whole ecosystem of all other currencies that are resting on the hopes and promises of it.
• Steem/ Steem Power/ Steem dollar-A digital distribution platform that is developed by the Valve Corporation. It offers an incentivized blockchain social media platform. Users of this platform create and curate content on the site, just like any other social media platform and get rewarded in Steem for their work.
• Ethereum- Ranked as one of the most popular cryptocurrency, Ethereum is a blockchain-based distributed computing platform and operating system that feature a smart contract function.
• Factom- It is a cryptocurrency that has the potential to remove the hassle of unnecessary paperwork worldwide. Everything can be stored on the Factom blockchain, whole libraries, forever in the decentralized blockchain which is itself a giant digital library.
• Waves- Waves allows users to launch their own custom cryptocurrency tokens. The flat tokens can also be used to trade bitcoins and later withdrawn from the flat bank accounts.
• Digibyte-One of the most favored cryptocurrency, digibyte claims that it is 1000x more available, 40x times faster, 5x more decentralized and 50x more scalable than bitcoins. It has a real-life presence and also used in the gaming community and digibyte stores. Games such as Counter-Strike and League of Legends can help players earn digibyte coins.
• Monero-This cryptocurrency came into existence in April 2014. It focuses on privacy and decentralization. This cryptocurrency runs on Windows, MacOS, Linux, Android, iOS, and FreeBSD. Due to the strong and almost untraceable privacy, it is also used in darknet, which has raised a lot of issues. These coins are not readily available. At present, only 13 million coins are known to exist.
• Game Credits- As the name suggests it is a gaming cryptocurrency which can be integrated in any game. The possibilities for this cryptocurrency are endless.
• Dogecoin- It is a decentralized digital currency that allows the user to send money online without any hassle. It is an internet currency which has the Shiba Inu as the mascot. It has an extremely easy set-up process and once it’s done the user becomes a part of the growing community.
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By Jag Randhawa, Technology Executive & Author, CAMICO