The Top 10 Cryptocurrencies

 

The Top 10 Cryptocurrencies

New virtual currency

Bitcoin stands head and shoulders above the other cryptocurrencies in terms of market capitalization

 

Now it is time to present you with the Top 10 Cryptocurrencies in terms of market capitalization as they stand at the time of writing. Be aware with the rapid price fluctuations in the cryptocurrency world that these  figures could vary greatly not just on a daily basis but on an hourly basis (particularly Bitcoin which hit a price of over $16,600 on December 12, 2017 )

 

Bitcoin (BTC) – Market Capitalization $ 264.50 Billion

As we already mentioned Bitcoin is the first cryptocurrency that actually worked. Created in 2008 by mysterious Satoshi Nakatomo it presented us the blockchain technology and started the global cryptocurrency craze. Since its creation and the initial value of about eight-hundredths of a cent, it recorded a constant growth and it is now worth a record $ 15,811. Bitcoin is also the first cryptocurrency that was accepted as a way of payment by international companies like Dell, Expedia, and Microsoft.

Ethereum (ETH) – Market Capitalization $ 45.56 Billion

The idea of Ethereum was presented in late 2013 by Vitalik Buterin. The main goal of ETH was to develop a new platform with a more general scripting language in order to create decentralized applications. Official development of the ETH project started in early 2014. through a Swiss company Ethereum Switzerland GmbH. The funding was organized by an online public crowdsale in the summer of 2014. where the participants were buying Ethereum value token with bitcoins. In 2016, with the collapse of the DAO project, Ethereum was forked into two separate blockchains. The original version became Ethereum Classic (ETC), while the new continued as Ethereum (ETC). The current value of ETH is around $ 442.76.

Bitcoin Cash (BCC/BCH) Market Capitalization $ 25.00 Billion

This cryptocurrency was presented on August 1. 2017. as a hard fork of Bitcoin blockchain. BCC inherited the complete transaction history of Bitcoin until that date, but all later transactions were separate. The main goal of BCC was to confront the bitcoin scalability problem and resolve a blockchain size limitation that was decreasing the Bitcoin transaction speed. Although some members of the community were convinced that it will favor the ones who wanted to treat Bitcoin as a digital investment instead of a mean of payment. The current value of BCC is around $ 1,405.89.

Exchange Union Coin (XUC) – Market Capitalization $ 22.20 Billion

Exchange Union Coin is developed within a partnership between the Exchange Union, Huiyin Blockchain Venture, the renowned blockchain-focused venture capital fund and the Jinsheng Capital, one of China’s largest private equity management institutions. It was presented in July 2017, and the crowdsale was held in August 2017. The main goal of XUC is to enable more efficient transfer of cryptocurrencies between exchanges. This coin is designed to be universal and widely accepted and circulated. Even if the exchanges do not use the same cryptocurrency, clients can effortlessly make transfers using the XUC. The current value of XUC is around $ 7.37.

Veritaseum (VERI) – Market Capitalization $ 13.56 Billion

Veritaseum was created by Reggie Middleton, an analyst, blogger and self-proclaimed genius. The purpose of VERI is to build blockchain-based, peer-to-peer capital markets on a global scale. This software will effortlessly connect parties where there will be no need for a third party. This concept where anyone with internet access can participate in these capital markets on a peer-to-peer and one-on-one basis is considered to be a scam by a large number of community members. Mainly because of the lack of any valid information about the whole stock exchange idea. Anyway, it has its market share and a current value of around $ 137.00.

IOTA (IOT) – Market Capitalization $ 13.43 Billion

IOTA was founded in 2015, with a focus on providing a secure way of communication and payment between machines on the Internet of Things. Instead of the traditional blockchain technology, IOTA uses direct acyclic graph (DAG) technology. The main properties of IOTA are that the transactions are free regardless of the size, a number of transactions that the system can handle simultaneously is unlimited, confirmation times are fast, and it is easily scalable. The current value of IOTA is around $ 4.68.

Ripple (XRP) – Market Capitalization $ 8.68 Billion

Introduced in 2012 XRP announced its main goal to be enabling of “secure, instant and nearly free global financial transactions of any size with no chargebacks. “Ripple is based on a shared, public database and apart from supporting fiat currency and cryptocurrency it supports any unit of value such as mobile minutes or frequent flier miles. The current value of XRP is around $ 0.2267.

DigitalCash (DASH) – Market Capitalization $ 5.58 Billion

This coin was initially released on January 18, 2014, as XCoin (XCO) and later, on March 25, 2015, renamed as DASH. It is an open source peer-to-peer cryptocurrency. The main goals of DASH are to become the most user-friendly and most scalable in the world. It operates as a self-funding model that enables them to compensate individuals for doing the work that adds value to the network. The current value of DASH is around $ 702.91.

Litecoin (LTC) – Market Capitalization $ 5.43 Billion

LTC was released on October 7, 2011, by Charlie Lee, a former Google employee. LTC is a fork of the Bitcoin blockchain. The main differences are that LTC has decreased block generation time and increased maximum number of coins. On the other hand, LTC is more complicated and expensive to produce. The current value of LTC is around $ 99.97.

Expanse (EXP) – Market Capitalization $ 5.07 Billion

EXP was developed as a first stable fork of Ethereum. It was created as a community-based project without the need for ICO. The main idea is to use blockchain technology to create anything community can imagine. EXP also operates as a Decentralized Autonomous Organization (DAO) and as a self-funding model. The current value of EXP is around $ 640.76.

 

Summary:

This list is of top 10 cryptocurrencies in terms of Market Capitalization. As you can see Bitcoin expectedly dominates the list and will do so for a long time, followed by Ethereum who also seems to have its second place cemented for the time being. On the other hand, since the cryptocurrency market is very volatile, there will certainly be some changes in this list in the future. Especially on the bottom, with cryptocurrencies like Expanse (EXP), EOS and Monero (XMR) being close by.

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