Top 10 Cryptocurrencies 2018
Friends, if you want to know what the Top 10 Cryptocurrencies are in 2018, then you are at the right place. In this article, you will find the complete information about Top 10 Cryptocurrencies. Cryptocurrencies or digital currencies are an invention of the internet. So let’s know that the Top 10 Cryptocurrencies in the world. The ranking was taken from CoinGecko According to their Market Capitalization, a website that ranks cryptocurrencies by developer activity, community and liquidity.
1. Bitcoin (BTC)
MARKET CAPITALIZATION $268,584,361,354.32
Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Bitcoin is changing the way we see money as we speak. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no banking hours.
As of the current design, there will only be 21 million Bitcoin ever created, thus making it a deflationary currency, unlike fiat currencies. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to Peta hashes.
Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on.
Genesis Date January 03, 2009 (about 9 years)
2. Ethereum (ETH)
MARKET CAPITALIZATION $121,189,624,029.52
Ethereum is the first Turing-complete cryptocurrency that uses Ether as fuel to incentivise its network. The idea is the brainchild of Vitalik Buterin. The project received US$18million worth of bitcoins during its Crowdsale in August 2014.
It uses the Ethash mining algorithm, which is based on the Dagger-Hashimoto algorithm.
Genesis Date July 30, 2015 (over 2 years)
3. Ripple (XRP)
MARKET CAPITALIZATION $92,110,085,462.66
Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples). Released in 2012, Ripple purports to enable “secure, instantly and nearly free global financial transactions of any size with no chargebacks.
On 6 Jan 2018, the market capitalization of XRP was 123 billion USD, making it the second largest cryptocurrency by market cap.
4. Bitcoin Cash (BCH)
MARKET CAPITALIZATION $42,518,490,441.36
Bitcoin Cash is a split from Bitcoin with a protocol upgrade to fix on-chain capacity. If Bitcoin Cash gets a majority of Proof-of-Work then it becomes de facto Bitcoin. It will be a Bitcoin without Segregated Witness (SegWit) as Soft Fork, where upgrades of the protocol are done mainly through hard forks, without changing the economic rules of the Bitcoin. Bitcoin Cash will be a fork of the Bitcoin blockchain, one-to-one.
5. Cardano (ADA)
MARKET CAPITALIZATION $24,420,638,769.62
Cardano is a project that began in 2015 as an effort to change the way cryptocurrencies are designed and developed. The overall focus beyond a particular set of innovations is to provide a more balanced and sustainable ecosystem that better accounts for the needs of its users as well as other systems seeking integration.
In the spirit of many open source projects, Cardano did not begin with a comprehensive roadmap or even an authoritative white paper. Rather it embraced a collection of design principles, engineering best practices and avenues
6. NEM (XEM)
MARKET CAPITALIZATION $15,547,597,245.74
NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014.
POI is the consensus algorithm used in NEM to determine who will calculate the next block. An account’s importance is determined by how many coins it contains and the number of transactions made to and from that account. POI is different from other initiatives which use a fee-sharing model that does not take into consideration one’s overall support of the network. In some proof-of-stake systems a person only needs to have large amounts of coins to form a block; however, in NEM the transaction amount, as well as the support of the network, become a factor. This has been designed to encourage users of NEM to not simply hold NEM but instead actively carry out transactions within the NEM ecosystem.
Genesis Date March 31, 2015 (almost 3 years)
7. Litecoin (LTC)
MARKET CAPITALIZATION $14,236,783,371.56
Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. A script allows consumer-grade hardware such as GPU to mine those coins.
The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin’s 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units.
Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Script hashing algorithm in order to prevent ASIC miners from mining those coins. However, it is said that by the end of this year, Scrypt ASIC will enter the mass market.
Genesis Date October 08, 2011 (over 6 years)
8. Stellar (XLM)
MARKET CAPITALIZATION $11,893,225,552.86
Stellar is an open sourced decentralized protocol to transfer money in any pair of currencies.
For instance, Joe can send a USD transaction to Marie in Euro or Bitcoin seamlessly. The way it works is by using Lumens as an intermediary currency for conversion between currencies. Money balance is maintained via a gateway, a network participant whom you trust to accept a deposit in exchange for credit on the network.
Stellar’s mission is to expand financial access and literacy worldwide.Stellar is a decentralized protocol for sending and receiving money led by Jed McCaleb from Ripple and the original founder of Mt. Gox.
9. IOTA (IOT):
MARKET CAP $10,981,554,106.10
IOTA is an open-source distributed ledger (cryptocurrency) focused on providing secure communications and payments between machines on the Internet of Things. Using directed acyclic graph (DAG) technology instead of the traditional blockchain, IOTA’s transactions are free regardless of the size of the transaction, confirmation times are fast, the number of transactions the system can handle simultaneously is unlimited, and the system can easily scale.
IOTA was founded in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov.
10. Tron (TRX):
MARKET CAP $10,334,125,858.00
TRON is a world-leading blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription, and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.