The most commonly heard cryptocurrency at present is Bitcoin. But did you know that there are thousands of other cryptocurrencies in circulation out there- most of which we aren’t even aware of! We’ll be taking you through the top five, trending cryptocurrencies that are currently ruling the world:
Rightly situated at the top, around 16.8 million bitcoin tokens are out there in circulation. The upper limit is capped at 21 million. It was the first and original version of cryptocurrency, and it has undoubtedly paved the way for the others that closely followed. No doubt it’s famous for being a path-breaker in the crypto-world, Bitcoin comes with its own set of drawbacks – high transaction fees being one of them. Also, Bitcoins are subject to high volatility, which is one major drawback. Nevertheless, the immense returns generated by bitcoins and the lucrative returns are what keep the masses hooked to it.
One of the best features of Ripple is its low transaction costs. Moreover, Ripple came, climbed and conquered! It gained almost 35000% of its original value in the year 2017, making it one of the fastest growing cryptocurrencies! Overcoming significant drawbacks of other major currencies, Ripple is much more stable and reliable as compared to its counterparts. Another interesting feature Ripple brings in is that it doesn’t require mining at all – unlike Bitcoin, which depends heavily on mining. This gives Ripple an edge over others – making it a much better, energy saving option over its counterparts.
Making its debut in 2015, Ethereum has fast grown since then. Extremely safe and secure with no interference from any third party, Ethereum definitely has its brownie points over other cryptocurrencies. The cryptographic tokens in the Ethereum system are known as ‘Ethers,’ which used either by developers to run applications inside Ethereum or by investors who wish to transact via Ethereum. It is a decentralized software platform that can be used to trade almost ‘everything.’
Popularly known as the ‘silver to bitcoin’s gold,’ Litecoin made it’s entry soon after Bitcoin entered the world. Litecoin is like Bitcoin in many ways except that the transaction process is much faster, owing to a quick block generation rate. An open source global payment network, Litecoin uses ‘scrypt’ as a proof of all its transactions. Though bitcoin’s little brother, Litecoin comes with a higher cap limit of 84 million tokens.
Originally, Dash started off with the name Darkcoin – the name was aptly justified as Dash is known to be a more secretive version of bitcoin. Anonymity is the key here, and no transaction carried out via dash is traceable. Dash gained immediate spotlight and popularity in the market, and its name was changed from Darkcoin to ‘Dash’ which also stood for ‘Digital Cash.’