Since the invention of Bitcoin in 2009 by Satochi Nakamoto, cryptocurrencies have gained much recognition and attraction from different individuals. Several advanced cryptocurrencies have appeared as the crypto market advances, each of which has its specific properties and pledges to both investors and traders.
According to statistics, the total number of crypto in the world is 22,932 (according to the calculations taken in March 2023) with a total market capitalization of $1.1 trillion. Due to the numerous inventions of cryptocurrencies, people always thrive to pick the best out of the many existing ones with promising potential before making investment decisions.
This article will be providing a piece of well-detailed information comprehensively, highlighting the top cryptocurrencies in the world, considering their most important features and their market value. These will help you as an investor to make a good investment decision.
Bitcoin is the most popular and famous cryptocurrency, it is often known to be the first cryptocurrency ever created by Satoshi Nakamoto in 2009. It uses a technology known as “blockchain”. This technology works in a network based on decentralization to safeguard peer-to-peer transactions. Bitcoin has three important well-known features that distinguish it from other cryptocurrencies. These features are; its value increment, the use of a decentralization network, and its scarcity.
New crypto coins and decentralized applications can be created using Ethereum on its network. Ethereum brought about the idea of smart contracts which plays a vital role in the crypto industry. Ether is the native token of the Ethereum network. Ethereum has a flexible nature, and as a result of that; it has gained much attention in recent years and much adoption from different investors across the world.
Binance Coin ($BNB)
Binance is one of the biggest centralized exchanges, performing multipurpose tasks such as; serving as a trading platform, serving as a wallet platform, a launchpad platform, etc. Binance coin ($BNB) is the native coin of $BNB. This native coin has various uses in the Binance ecosystem or network, these uses include; using $BNB coin to participate in token sales on the Binance launchpad, it is used to give lower trading commissions, and more. Binance coin has an important use case that can be used in decentralized applications for decentralized finance (DEFI) activities in the smart chain network, also it enables transactions on cross-chain.
The Cardano network has a native token called ($ADA). It enables the creation of smart contracts and decentralized applications due to the possession of blockchain technology and its flexibility. It distinguishes itself by prioritizing durability and applying scientific methods, and peer-reviewed research.
Ripple is a digital currency and a payment system that was developed to carry out international transactions quickly and efficiently. On the ripple blockchain, $XRP operates as the role of a bridge currency, allowing smooth transactions between several fiat currencies. Ripple is a significant player in the payments cross-border as a result of their collaborations with different financial institutions.
Polkadot is used as a governance and bonding token and it has a native coin called $DOT. This is a multi-chain platform that makes it feasible for numerous blockchains to communicate with one another. It strives to build a network that is decentralized and accessible that can render the transmission of data between several chains.
Solana is created to assist projects that are developed on decentralized applications (DAPPs) and decentralized Finance (DEFI). However, it is a blockchain platform that helps to execute transactions in a fast and less expensive manner. For staking, investments, or performing other transactions on the Solana ecosystem, $SOL was created as its native token.
Most times, Litcoin is called “Bitcoin Gold”. It was among the first set of cryptocurrencies that was created after the invention of Bitcoin and as that, it has some comparable to it. Due to its rapid block generation times and several hashing algorithms, Litcoin is enticing for regular usage and for carrying out fewer transactions every day.
It is a decentralized network that provides information to smart contracts. Using Chainlink, the challenge faced by off-chain information sourcing by smart contracts can be solved. Through the decentralized network of Oracle, the $LINK network provides accurate information to smart contracts and APIs. It has a native token called $LINK which can be used as a medium of payment for smart contracts that utilizes the data provided by the link network.
Stellar Lumens ($XLM)
Just like Ripple, it is a blockchain platform a payment system that is used to carry out international transactions quickly and efficiently. However, this project was created to offer financial services to people operating banking services and those that are not operating banking services around the world. It has a native token called $XLM, which helps to prevent network spamming and helps in enabling transactions on its network.
The crypto space is huge and vibrant. The lists of several cryptocurrencies discussed above are some of the leading crypto projects out of the 22,932 cryptocurrencies available in the world.
While making cryptocurrency investments, it Is essential to do a series of research on the most promising crypto projects such as $ETH, $XRP, $LIT, etc. Cryptocurrencies with good futures give high and good profits as their value increases over time.