Top 10 of the Most Important Cryptocurrencies Right Now
Cryptocurrencies are digital money that benefits greatly from the architecture of the internet. They don’t depend on any central organization to process their transaction, instead, they rely on numerous interconnected computers online that work to quickly confirm every transaction. Cryptocurrencies are an exciting addition to the world of finance because cryptocurrencies offer things that traditional currencies can't.
The following are the top 10 cryptocurrencies in the financial world:
1. Bitcoin BTC
Bitcoin is the most popular and important cryptocurrency, the mother of all cryptocurrencies. It is open-source, user-friendly, decentralized, and public. So no one owns or controls Bitcoin and still, everyone can be a part of it. Bitcoin has exclusive properties and benefits surpassed by far any prior payment system.
2. Ethereum ETH
Ethereum is a decentralized world supercomputer fueled by the computational power of thousands of computers from all over the world, allowing all kinds of applications and tasks to be run simultaneously by thousands of people lending the power of their personal computers in exchange of Ether, the platform’s own currency.
3. Ripple XRP
Ripple is a currency and also a payment network that allows easy payments worldwide in any currency through the use of some exchange services. Ripple’s main objective is to free individuals from the restrictions of traditional financial networks such as banks and other financial institutions that charge fees for exchanging currency. By using Ripple XRP, people and traders can send money for free, without needing licenses or paying any fee.
4. Bitcoin Cash BCH
Bitcoin Cash is a peer-to-peer cryptocurrency that works as electronic cash for the Internet. This digital currency is fully decentralized, so it doesn’t require a central bank or trusted third parties to operate. This cryptocurrency is actually a fork of the Bitcoin blockchain ledger that features upgraded consensus rules, allowing it to grow and scale better than the original Bitcoin.
5. Litecoin LTC
Litecoin is a peer-to-peer cryptocurrency that allows instant, low-cost payments to anyone on Earth. Litecoin is a fully decentralized and open sourced global payment network, so it doesn’t depend on any central authority. The network is highly secure, empowering individuals to manage their own money. Litecoin has improved storage efficiency and fast transaction confirmation times.
6. NEM XEM
NEM was founded by Makoto Takemiya in Japan, founder & CEO of Soramitsu. People use this cryptocurrency in a commercial block chain, and many private companies from Japan and other countries are already using it. The programming language for the Nem coin is based on Java and C++. The Nem platform has new features that improve its security in order to protect itself from hackers.
7. Dash DASH
Dash is one of the relatively new crypto currencies in the digital cash market. It is a decentralized peer-to-peer electronic coin that works upon core codes of Bitcoin but with additional features that make it better in some ways.
8. IOTA MIOTA
IOTA is an open-source distributed ledger based on the block-less Directed Acyclic Graph protocol. It has no fixed limit on the number of transaction you can confirm per second in the network, hence the network does not slow or become clogged, and there are no fees on transactions. It goes beyond the blockchain ideas. IOTA is not just a currency but an interoperability protocol.
9. Ethereum Classic
Ethereum Classic has the same fundamentals and specifications of Ethereum, partly because they once were one same currency that was subject to a hard fork. Just like Ethereum, Ethereum Classic works with Turing-Complete smart contracts.
NEO is a Chinese and open source blockchain platform. It provides users with convenient and efficient access to digital currency utilization platforms and exchange forums. It is currently one of the most important cryptocurrencies in markets all over the world.
Outside of this list, there are many new crypto currencies introducing other types of advantages. You will hear more from them very soon.