Now that block chain technology has started gaining its popularity amongst investors and traders community in particular, it is highly recommended for all those technocrats who want to introduce innovative business models solving real world problems. That’s where block chain technology comes in to play by providing the platform where those technocrats can raise capital by using new buzzword called ‘Initial Coin Offering’. Likewise various crypto currencies traded on regular basis, the ICOs do have their own tokens or coins in offering.
Today, I would like to introduce all those prominent crypto currencies that have gained their popularity since their inception in early 2013. Needless to say that the block chain technology is reshaping the entire world trailing all those remarkable technologies like, artificial intelligence, data analytics & data science, information technology.
Let me tell you that there are over 3500 crypto currencies traded on more than 150 exchanges world-wide. The majority of contribution (in terms of market cap) as on 16th April, 2018 comes from prominent crypto currencies like, Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Cardano, Stellar, IOTA, NEO among others. The following analytics of top ten crypto currency for trading clearly show the major market share owned by them.
Prices of renowned crypto currencies as follows –
Price ($) as on 16th April 2018
Source : CoinLib
The aforesaid pie chart shows the prices of top ten crypto currencies traded globally. The following pie chart clearly depicts the market cap by those top ten crypto currencies globally.
Market Cap of renowned crypto currencies as follows –
Market Cap ($ Billion) as on 16th April 2018
Source : CoinLib
Let me elaborate top ten crypto currencies traded globally as follows –
1. Bitcoin is a well-known crypto currency has become most popular payment system globally. It is the first decentralized digital currency that works without single administrator or a central bank. It offers peer to peer transactions that take place directly between users without involvement of any intermediary. The transactions executed through Bitcoin are passed through verification by network nodes using cryptography and recorded in a public distributed ledger system called a block chain. It was invented by Satoshi Nakamoto back in 2009. The price at which Bitcoin traded as on 16th April 2018 stands at $8109.59 with market cap stands at $137.70 billion. The symbol of Bitcoin is BTC.
2. Ethereum is said to be an open source, public bock chain based distributed computing platform that features smart contract functionality. It can also be called Ether that can be used for crypto currency whose block chain is generated by one of the renowned platform called Ethereum. The crypto – Ether can be transacted between various accounts and used to compensate mining nodes of participant in order to perform computations. With this it offers a decentralized EVM called Ethereum Virtual Machine that can organize scripts through international networks of public nods. The price at which Ethereum traded as on 16th April 2018 stands at $514.46 with market cap stands at $50.86 billion. The symbol of Ethereum is ETH.
3. Ripple offers the best experience to enjoy when it comes to send money globally through the block chain technology. This is highly recommended for financial institutions that want to process payments transactions to their customers globally. The symbol XRP (also a digital asset) of Ripple is used by banks and all those who are involved in payment process as it is cost effective and helps access new markets. It is said to be one of the fastest and scalable digital assets that enables real time global payments anywhere in the world. The price at which Ripple traded as on 16th April 2018 stands at $0.66 with market cap stands at $25.89 billion. The symbol of Ripple is XRP.
4. Bitcoin Cash is one of the widely used crypto currencies globally. It is said to be the hard fork of the crypto currency bitcoin that resulted in the creation of a new block chain in 2017. Having said that both Bitcoin and Bitcoin Cash are not compatible with each other. The price at which Bitcoin Cash traded as on 16th April 2018 stands at $762.43 with market cap stands at $13.02 billion. The symbol of Bitcoin Cash is BCH.
5. Litecoin stands for a peer-to-peer crypto currency transaction with open source software project. Likewise other crypto currency, it creates and transfers of coins based on an open source cryptographic protocol not managed by any central authority. Needless to say that the coin was inspired and resembled to Bitcoin. The price at which Litecoin traded as on 16th April 2018 stands at $127.81 with market cap stands at $7.17 billion. The symbol of Litecoin is LTC.
6. EOS.IO is widely used software introducing the block chain architecture designed in such a way that enables all types of decentralized applications. It comes with various functions like accounts, communications, databases, etc. It is competent enough to execute millions of transactions per seconds thereby eliminating user fees and allowing quick organizing decentralized applications. Additionally, the company is the technology solutions provider and block chain software developer due to the strong intangible assets (advisors with strong domain expertise) situated world-wide. The price at which EOS.IO traded as on 16th April 2018 stands at $8.2 with market cap stands at $6.53 billion. The symbol of EOS.IO is EOS.
7. Cardano is one of the renowned technology platforms runs the ADA crypto currency. It was created by Charles Hoskinson a former co-founder of BitShares and Ethereum aiming to run and organize smart contracts, side chains, decentralized applications, multi-party computation among others. The price at which Cardano traded as on 16th April 2018 stands at $0.24 with market cap stands at $6.15 billion. The symbol of Cardano is ADA.
8. Stellar is a widely used platform connecting financial institutions, payments transactions, and people. It is highly cost effective (nearly no cost) when it comes to transfer money quickly. It is a decentralized consensus platform. It is designed such that it supports any type of currency in the world. It has already in place a decentralized exchange that can be used to trade any global currency. Also it comes with peers who can run and transact independently. Likewise other block chains, Steller ledger records a list of all transactions belong to each and every single entity of the network. With this it allows the ledger to distribute to a large extent. The price at which Stellar traded as on 16th April 2018 stands at $0.29 with market cap stands at $5.37 billion. The symbol of Stellar is XLM.
9. IOTA is widely a used public distributed ledger that helps store transactions in a Tangle which is a directed acyclic graph structure. Tangle is used in place of the block chain structure used by other crypto currencies traded in the crypto world like Bitcoin. It is specifically designed for the Internet of Things which can be used for secured transactions by streamlining data. The price at which IOTA traded as on 16th April 2018 stands at $1.6 with market cap stands at $4.45 billion. The symbol of IOTA is IOT.
10. NEO is one of the renowned block chain platforms that strengthens the digital assets as well as smart contracts. The inception of NEO was in China back in 2014. Its token can be used to produce GAS token that can best be utilized as the fuel of the platform that pays for deployment and computation of transactions pertaining to smart contracts within the NEW network. The price at which NEO traded as on 16th April 2018 stands at $67.22 with market cap stands at $4.37 billion. The symbol of NEO is NEO.
At last, let me tell you that crypto currencies play an important role not just for trading purpose, but it can be used to transact across multiple verticals. Many businesses introduces their own crypto currency thereby offering their innovative business models that solve real world problems.
So have you started trading on crypto market or still you are thinking as to what to do. Let us thank to the inception of Bitcoin that has led to the well fashioned technology which is none other than Block chain?