The number of crypto faithfuls have increased exponentially following bitcoin’s bullish performance in 2017. As a result, interested people are weighing their options on which cryptocurrencies they should invest in in 2018. Making that decision is not easy, considering the fact that there are more than 1,500 cryptocurrencies at the moment. However, based on results from crypto tracker CoinMarketCap, we have come up with top cryptocurrency list that you might find useful as you weigh your options. Please note that the Market Cap values indicated below are dated February 2018 and will certainly change with time.
List of Top 10 Cryptocurrencies of 2021:
First in our top cryptocurrency list is Bitcoin, a digital currency created by a programmer under the pseudonym Satoshi Nakamoto just after the 2008 financial crisis. Bitcoin, a peer-to-peer electronic ecosystem, became highly popular in 2017, which led many people to invest in different cryptocurrencies. It enables users to use an anonymous payment method, something that the dark web enthusiasts have embraced with open arms. The cryptocurrency doesn’t have a central authority or intermediary, and Bitcoin miners are the ones responsible with the creation of new bitcoins. Despite its skyrocketing value in 2017, bitcoins users are constantly worried due to the currency’s volatility, transaction fees endslow speeds. At the moment there are 16.865 million BTC tokens in circulation. As of now, Bitcoin market cap is $168,954,551,455.
The second most popular cryptocurrency by market cap is Ethereum. Touted as Bitcoin’s main rival, Ethereum was developed for “smart contracts” or the decentralized app development meant to get rid of third party companies such as Google and Apple. The apps created are on a distributed public platform where crypto miners work to earn Ether in order to fuel the network. According Ethereum co-founder Joseph Lubin, Bitcoin laid the foundation for the blockchain technology but Ethereum boasts the potential of being “a more programmable currency”. As of now, Ethereum’s market cap is $90,526,111,734.
Ripple gained momentum in late 2017 until it ousted Ethereum to sit at position two, albeit for a short period. Ripple is the most scalable and fastest cryptocurrency, and is a centralized transaction network used by financial institutions such as banks for funds transfers. The main goal of Ripple is to replace the SWIFT banking system used for international transactions. When money is sent on Ripple network it’s converted into the XRP token on one end and into the currency of choice at the other end. Most cryptocurrency users believe that Ripple is more secure and faster than Bitcoin. As of now, Ripple market cap is $44,690,127,941.
4. Bitcoin Cash
A cryptocurrency fork in August 2017 as a result of Bitcoin’s technical limitations led to the creation of a new currency called Bitcoin Cash. The cryptocurrency, developed as a solution to Bitcoin’s scalability issues, had new rules as well as a new blockchain. Since its creation, Bitcoin Cash has cemented its place among the top ten cryptocurrencies in the world. However, it’s yet to overcome Bitcoin in terms of value, use and popularity. As of now, Bitcoin Cash market cap is $23,101,717,164.
Litecoin is another peer-to-peer cryptocurrency many consider to be the best Bitcoin alternative. It was created to solve some of the notable flaws in Bitcoin protocol, including transaction speeds. Litecoin has 84 million token limit compared to Bitcoin’s 21 million. It’s used to transfer funds between businesses and individuals without the need of having an intermediary. Litecoin’s current market is $11,747,369,391.
Cardano is a decentralized public cryptocurrency project. Apart from being completely open source, Cardano aims to deliver better features than other protocols currently in use It’s also the first blockchain platform developed through research-driven approach and out of scientific philosophy. A section of crypto community refer to it as “Ethereum of Japan” because 95% of its initial coin offerings were Japanese. As of now, Cardano market cap is $10,589,600,836.
Stellar was launched in 2014 by lawyer Jouce Kim and Ripple co-founder Jed McCaleb following disputes with Ripple. It can carry out extremely fast transactions, and takes seconds to complete a transaction. Stellar aims to enable users exchange government supported currencies, such as US Dollars, Euros, Pounds, etc. Surprisingly, Stellar enjoyed a 29,400% growth in 2017 alone. Whether 2018 will be another stellar year for Stellar remains to be be seen. At the moment, it’s market cap is $8,259,651,581.
It’s an emerging platform that uses blockchain technology and digital identity to digitize assets and automate digital assets management. Although NEO share similar roles and goals with Ethereum, it aims to be the new smart economy platform. Its market cap is $7,928,570,000.
Another blockchain platform hot on Ethereum heels as the go-to decentralized apps infrastructure is none other than EOS. Created by Bitshares founder Dan Larimer, EOS is set to capitalize on Ethereum’s few transactions per second. According to Dan Larimer, Ethereum’s low number of transactions won’t be sufficient to support the high digital demands in the future As a result, he set out to create EOS to address that weakness. SOS boasts up to 50,000 transactions conformations every second, which puts it ahead of Ethereum in terms of speed. Currently, EOS market is $6,784,639,786.
To end our top cryptocurrency list is IOTA, which is concentrated on machine-to-machine transactions. IOTA’s primary purpose is to enable machine-to-machine payments. It’s a different kind of cryptocurrency compared to the other digital currencies due to the fact that it isn’t based on the blockchain system. It uses a concept called tangle. As of now, IOTA’s market is $5,806,105,218.
Other Notable Cryptocurrencies in 2020
Apart from the cryptocurrencies we have discussed above, there are other notable cryptocurrencies that can still make it to the top ten list. Some of them include: Dash, NEM, Monero, Lisk, Ethereum Classic, TRON, VeChain, Otum, Tether and Bitcoin Gold among others. It’s worth noting that the market cap of these digital tokens change every day, which will determine which cryptocurrency tops the list.
In conclusion, more and more digital tokens will emerge. However, whether they will be adopted by the diverse and solution-seeking cryptocurrency community depends on factors such as speed, volatility, security and scalability.