Top 10 Cryptocurrencies in 2017
There has been a boom of Cryptocurrency in 2017. Bitcoin and virtual money were two most searched keywords on Google. Currently, thousands of Cryptocurrencies have been launched over the world. However, different types hold different values, meanings and purposes. Beside Bitcoin, many other Cryptocurrencies have achieved great success. At this writing, we list 10 top Cryptocurrencies with the greatest success in 2017.
Bitcoin must be the first thing we talk about Cryptocurrency. This currency changed the world’s financial history by bringing the concept Blockchain community to the community. Bitcoin was created by a mysterious name Satoshi Nakamoto who was supposed to be an American – Japanese. In the past, a currency that was not under any control of government never existed until Bitcoin and the technology behind it- Blockchain were born.
In the end of 2017, Bitcoin have seen exponential growth with all-time highs in trading volume. With the 4-digit growth, Bitcoin became one of the 30 most valuable currencies in the world. In 17th December, a BTC reached the peak $19.148/BTC, market capitalization is $320,6 billion. Thus, Bitcoin has increased by 1500% comparing to its value in the beginning of the year. The boom of this currency exceeded all expectations and predictions of many experts in the financial field. Despite its slight decrease in value later, the price of Bitcoin is still very high.
At the time of this writing, a BTC is worth $13.573,6.
Very rapid growth of Bitcoin
Ripple coin (XRP)
Like Bitcoin, Ripple use the Blockchain technology, with the aim to improve the speed of transactions. In the network, XRP is used as a bridge if there is no direct transaction between 2 types of currency. Ripple is an addition, not competition of Bitcoin. At the moment, XRP is strongly developing and ranking the second just right after Bitcoin. A XRP is worth $2.44, market capitalization is 101.411.720.772 USD.
Ethereum was launched on 30th June 2015 by Vitalik Buterin. This currency was created to improve the weaknesses of Bitcoin as well as make use of strengths of Blockchain. ETH is ranking the third on the list of current strongest Cryptocurrencies according to the Coinmarketcap. At this time, the price of an ETH is $711.65 and the market capitalization is over 68 billion USD. ETH is known as a currency for smart contracts with high applicability and popularity.
Bitcoin cash is a fork of Bitcoin. It is completely decentralized, without any intervention from the central bank and third party. The main target of this currency is focusing on transaction performance. With some strengths, Bitcoin Cash is expected to be more valuable than Bitcoin. Currently, this virtual currency is at the fourth with the market capitalization is more than 43 billion USD, a Bitcoin Cash is worth $2.572,52.
Created by a Google engineer named Charles Lee in 2011, Litecoin which is known as the first fork of Bitcoin was generated with the aim to improve the transaction speed of Bitcoin. This is a global payment network based on an open source. It is decentralized without the central management. The speed of Litecoin which is only 2.5 minutes for a block is much better than that of Bitcoin which is 10 minutes. Litecoin has the market capitalization of $12.5 billion, the price is $229.85/LTC. Litecoin and Bitcoin share many similar features.
Cardano which is a new Blockchain project is a decentralized open source – based digital currency. Carnado is developing a smart contract which is hoped to improve all shortcomings of the previous currencies. At the moment, 1 ADA is priced $0.481114 and its market capitalization is approximately 12.5 billion USD.
IOTA is an innovative technology optimized for the Internet of Things (IoT). Unlike the complex and heavy Blockchains of Bitcoin and other platforms, IOTA was created to be as lightweight as possible with the Tangle platform (DAG). This technology improves some weaknesses of Blockchain such as centralization of control, inability to conduct micropayments, obsolete cryptography, scalability limits, unlimited data growth,… However, IOTA is created not to completely replace Bitcoin, but improve it. IOT has the market capitalization of over 10 billion USD with the price $3.65/IOT.
This currency uses peer-to-peer network and Blockchain technology. Launched on 32th March 2015, NEM ranks 8th on the list of Cryptocurrencies holding the highest value and market capitalization. This is a very potential currency which attracts many expert’s attention. Currently, 1 NEM is worth $1.07, the market capitalization is roughly 9.5 billion USD.
Dash is the newest digital currency which was developed from a peer-to-peer open source based on the platforms Instantsend and Privatesend. Its transaction speed is very rapid. Thus, basically, Dash can solve all problems of Bitcoin by increasing the transaction speed, financial privacy and developing management system. Dash ranks 9th on the list with the price of $1.057,63/Dash, market capitalization of 8.2 billion USD.
Stellar is issued in 2014. XML protocols are supported by a non-profit organization called Stellar Development Foundation. Some organizations and enterprises has been developing this currency as a financial facility, especially in developing countries. At the moment, 1 XLM is worth $0.4472223, the market capitalization is approximately 8 billion USD.
Cryptocurrency is the result of an invention, which is now poised to become the next big innovation in the fintech industry. Based on information from Coinmarketcap, we have just listed top 10 Cryptocurrencies in 2017. However, the Cryptocurrency market always has fluctuation. No one knows the destiny of these currencies in the future.