TOP 5 MOST POPULAR CURRENCIES TODAY
Cryptocurrency is gradually becoming a popular payment method in the world. Here are the 5 most used cryptocurrencies today.
1. Bitcoin (BTC)
Bitcoin is the first blockchain-based money cryptocurrency. Created in 2009 by a figure with the alias Satoshi Nakomoto, Bitcoin has since attracted millions of investors and has become the largest cryptocurrency by market capitalization.
Bitcoin is inherently scarce: only 21 million Bitcoins can be “mined”. The digital currency’s proof-of-work blockchain has become the template for other cryptocurrencies in building a decentralized consensus mechanism.
2. Ethereum (ETH)
Ethereum was created in 2014 by Russian-Canadian programmer Vitalik Buterin and British computer scientist Gavin Wood, who later also contributed to other cryptocurrency projects.
The Ether coin is built on the foundation of the Ethereum blockchain with the function of operating smart contracts.
Unlike Bitcoin, which is primarily viewed by investors as a store of value, Ether’s value comes from the fact that it facilitates smart contracts in decentralized applications. Most “DeFi” (decentralized finance) projects are built on top of Ethereum.
The supply of Ether is not capped, which means that the total amount of Ether mined is yet to be decided, but will be determined by the members of the Ethereum community.
The network is expected to transition from proof-of-work to proof-of-stake in the near future.
3. Stellar (XLM)
Stellar is an open source blockchain whose “native” currency is Lumen. The network was founded in 2014 by crypto evangelist Jed McCaleb, who previously co-founded Ripple Labs and the infamous exchange Mt. Gox.
Stellar’s goal is to offer cheaper transactions in underdeveloped markets. The blockchain has avoided using a standard mining network to validate transactions, relying instead on an algorithm known as a “byzantine association pact.”
4. Binance Coin (BNB)
Binance Coin is the brainchild of Changpeng Zhao, the founder and CEO of Binance, the world’s leading exchange for buying and selling virtual currencies.
The BNB token was created with the purpose of facilitating transactions on the Binance network, allowing users to pay their trading fees and access other products and services, such as a non-profit exchange. Binance’s focus.
BNB users enjoy lower transaction fees on Binance than those paying with other cryptocurrencies.
Since its inception, the popularity of BNB has gradually extended beyond its function on the Binance exchange, attracting speculators and day traders. BNB uses a proof-of-stake consensus model.
5. Cardano (ADA)
Cardano was founded in 2015 by computer scientist Charles Hoskinson, the co-founder of Ethereum but left the project due to disagreements with other founding members.
Cardano’s cryptocurrency, ADA, is secured by a proof-of-stake protocol called Ouroboros — which operates both permissioned and permissionless blockchains.
The Cardano Foundation is a non-profit organization based in Switzerland and oversees the development of this project.
The organization has done extensive research and testing, with more than 90 articles on blockchain technology. Much of this academic work underlies Cardano’s technology.
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