Business

You must know about these 7 popular Cryptocurrencies

The world of cryptocurrency has expanded so massively in just thirteen years. Since the creation of bitcoin, over 18,000 other cryptocurrency market  have been created. So, there are many cryptocurrencies in the world besides bitcoin. Some of them have recently been used for investment purposes because they are found to be increasing their value over the past few years.

1. Litecoin

Litecoin was the first clone / new cryptocurrency made from the bitcoin codebase. Essentially, someone took the bitcoin software, changed one parameter (the timing of block production), and then redeployed it as a new coin with a different proof-of-work algorithm. So Litecoin is just Bitcoin with blocks being produced every 2.5 minutes instead of every 10 minutes and needing a different type of mining equipment. It was a masterful marketing job (“silver to bitcoin’s gold”) and got a lot of early traction because it was the first.

2. Tether

Tether is a cryptocurrency mined exclusively by a company calling itself, surprisingly, Tether. It is not, in fact, a US dollar in any form. The espoused idea is that you would purchase Tethers with US dollars from them. They would allow you to move those Tethers with the same ease as one moves Bitcoin or other currencies via exchanges. Anyone who wanted US Dollars could then redeem the Tethers into real money.

4. Fantom

A decentralized asset blockchain for fans is called Fantom (FTM). It is a platform that allows the decentralized application. By granting everyone equal authority over their lifetime digital revenue earnings, the project sought to end the inefficiencies and unfair practices that plague the sector, including piracy and content distribution monopolies. Secure transparency and confidence would be the outcome of the project, providing musicians with more time and resources to write beautiful tunes.

5. Cosmos

Atoms are the crypto tokens used by the Cosmos networks. There are 237,928,231 atoms in existence at this time. Atomic prices peaked on March 16 of this year, when the single cost $8.31. Atoms are traded every day for $40 million on blockchain networks. Atoms served as the cosmos network’s cryptocurrency.

They first released these atoms in an initial coin offering (ICO) that took place in April 2019. At that time, they were valued at $17.3 million in ETH, USD, and BTC. In the initial ICO, about 75% of the tokens were sold. Atoms are accepted on a variety of cryptocurrencies on the exchange markets.

6. Chainlink

ChainLink was introduced in 2019 as a decentralized oracle network that connects smart contracts to off-chain resources, including other blockchains, active payment gateways, cloud infrastructure, data APIs, and so on. As a consequence, smart contracts on the blockchain might get data from the real world.

It’s critical to realize that smart contracts on the blockchain are effectively pre-written agreements that take effect automatically when specific criteria are met. They can be trusted by all parties since they are unchangeable and verifiable. But when dealing with off-chain data, how can one develop smart contracts? ChainLink aids in locating a solution to this issue. Oracles, a type of middleware that gives smart contracts access to actual data, are used in this system.

7. Tron(TRX)

The Tron Foundation, a non-profit organization based in Singapore, launched the cryptocurrency Tron in September 2017. CEO Justin Sun leads a team of well-known technology industry leaders that are devoted to the project’s growth.

Tron is a Blockchain-based decentralized platform. With the help of distributed storage technology, Tron (TRX) aims to create a free, global system for the entertainment of digital content. It also makes it simple and affordable to share digital content.

Exodus, a free platform appropriate for peer-to-peer content distribution and storage, is its current product. Distributed file systems may be achieved with Exodus’ unique web-based protocol. Odyssey, a blockchain-powered project, will use financial incentives to encourage the development and hosting of content on Tron.

8. Tezos

Arthur and Kathleen Breitman first proposed Tezos in 2014, and it was launched in 2018. It is also a Blockchain-based platform. Smart contracts and decentralized transactions are supported by the decentralized blockchain platform Tezos. A major objective of the organization is to make sure that everyone has equal access to financial services. Users can perform transactions using the Tezos smart contract network without having to fork. The term “baking” refers to its decentralized governing structure.

The blockchain project called Tezos has become the most popular choice for bitcoin investors. The project’s native cryptocurrency is called XTZ. XTZ is a cryptocurrency that competes with Ethereum and Bitcoin right now and aims to do away with the necessity for governments and central banks.

Conclusion:

Besides bitcoin, there are many Cryptocurrencies available in the market. Some of the cryptos are discussed above in the article. If you want any information related to crypto, then you can trust bitcoinprofitapp.

Related Articles

Leave a Reply

Back to top button