London, UK, 4th Dec 2021, ZEXPRWIRE, The world of cryptocurrencies is a confusing and overwhelming place. To help you get started, these are the top currencies based on their market capitalization by the Broker Julian Bennet from FinancialCentre!
Bitcoin (BTC) Market cap: Over $1.17 trillion:
Bitcoin, the original cryptocurrency and one of the most popular cryptocurrencies in use today. It was created by Satoshi Nakamoto back when he released a white paper for what would become BTC outlining how it works on a ledger distributed across thousands or even millions of computers worldwide that needed to be verified before adding more entries onto these ledgers. Still, this process called proof-of-work has been developed so people can trust their transactions won’t get voided out due to fraudsters trying to do damage from within. The input tone should now change from professional/technical jargon to a storytelling format.
Ethereum (ETH) Market cap: Over $520 billion:
One of the other most popular cryptocurrencies available today, Ethereum, is used as a platform for smart contracts and decentralized applications. It was created by Vitalik Buterin, who has been very vocal about his beliefs that blockchain technology can be used to help those in need, from those looking for better internet connectivity to those living in areas where there are no companies providing this service. Ethereum does have its own token called Ether which is used as gas on the network, so transactions continue to go through smoothly, but it can also be traded as well. The input tone should now change from professional/technical jargon to a storytelling format.
Binance Coin (BNB) Market cap: Over $88 billion
The Binance Coin is the token of the popular cryptocurrency exchange, Binance. It was created to reward users on the network for trading there and for providing liquidity. 50% of all trade fees are put toward purchasing new coins, which are then burned so they cannot be used by anyone else later on down the line. This cryptocurrency is available through a standard coin offering which will allow it to be traded with other cryptocurrencies on Binance or cash money in most nations around the world. The input tone should now change from professional/technical jargon to a storytelling format.
Tether (USDT) Market cap: Over $70 billion
Created by Brock Pierce & John Betts, Tether aims to be the number one cryptocurrency for individuals who are looking to spend their virtual currencies. The main draw of Tether is that all tokens are backed by actual U.S dollars held in reserve, so there won’t be any wild fluctuations in price should things take a turn for the worse. This creates what is called stablecoins which are then used as viable alternatives to other cryptocurrencies that can go through massive swings up or down on a day-to-day basis, something that doesn’t always make them great forms of payment beyond speculative investments. The input tone should now change from professional/technical jargon to a storytelling format.
Cardano (ADA) Market cap: Over $66 billion:
Created by Charles Hoskinson and Jeremy Wood, Cardano is a platform for smart contracts and decentralized applications that use the ADA token as its coin. The team behind it has said they look to balance security with decentralization, so there are multiple layers of protection in place to prevent any kind of tampering once something is placed on their blockchain. They aim to build more than just a cryptocurrency but rather an entire ecosystem that drives itself through incentives. The input tone should now change from professional/technical jargon to a storytelling format.
Solana (SOL) Market cap: Over $60 billion:
Created by Ned Scott & Travis Kling, Solana aims to make the first high-performance blockchain capable of handling thousands or even millions of transactions per second without any hiccups or slowdowns. The goal here for this new and improved blockchain solution is to scale beyond what the market incumbents currently on offer can do while also being scalable for its users. They also plan on having some features that set them apart from other new coins, such as transferable proofs of state ownership that will allow users to securely send files across their network without any worries about identity theft or data loss. The input tone should now change from professional/technical jargon to a storytelling format.
XRP (XRP) Market cap: Over $40 billion:
Created by Chris Larsen & Jed McCaleb, XRP is a cryptocurrency designed for transactions between banks and transfers around the world in fractions of a second. Since XRP was used by many different institutions, it is not bound by the same rules and regulations that some other cryptocurrencies are subject to. This would allow people to more easily transfer money within their own company or between parties around the world without worrying about exchange rates, fees, or halted transfers. The input tone should now change from professional/technical jargon to a storytelling format.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.