In 2017, The cryptocurrency market capitalization grew from about 18 billion USD to 800 billion USD from January 2017 to January 2018.
After that, the prices dropped and some people saw that as a correction of the prices because they thought it was not worth the price, the market capitalization of cryptocurrency decreased to 254 Billion USD at the beginning of April 2018.
In this article, you'll find the most popular Cryptocurrencies and what they offer to their digital world, by the end of this you'll find what fuels their popularity.
- BITCOIN (BTC) - The first coin on the list is Bitcoin. Created in 2008, Bitcoin was the first-ever cryptocurrency, by Satoshi Nakamoto. Bitcoin is a digital currency based on a distributed ledger technology named "Blockchain", Read more about Blockchain here. What Bitcoin does is, it eliminates the need for centralized intermediaries such as banks and credit card companies when making online payments. Bitcoin aims to create an alternative for fiat currencies like the USD, GBP, EURO, JPY, etc.
- ETHEREUM (ETHER) - Ethereum is said to be the most valuable cryptocurrency after Bitcoin, it was created in 2015 by someone named Vitalik Buterin and it's so much more than just a digital currency. Ethereum is a blockchain platform for developing decentralized applications and smart contracts. Ethereum is the native cryptocurrency used for all of the transactions that take place of Ethereu's blockchain platform. If you have an idea for a project or app that uses Blockchain technology, no need to develop your own Blockchain, you can simply build on Ethereum's platform.
- Ripple (XRP) - Ripple is one of the most unique cryptocurrencies out there because it focuses on solving problems that are related to just one industry - International Payment Transfers. It was founded in 2012 with the goal to make International transactions fast and very cheap. There about 100 billion XRP available and 50% of that is owned by Ripple Labs (the company behind XRP).
- BITCOIN CASH (BCH) - Bitcoin Cash was forked from Bitcoin in 2016, This happened because the developers of Bitcoin could not come to an agreement regarding the changes needed in Bitcoin's code, so, therefore, Bitcoin Cash was born. Bitcoin Cash was created to do what Bitcoin was not able to achieve, things such as scalability and transaction fees.
- EOS - The EOS cryptocurrency launched through an Initial Coin Offering in June 2017. EOS has was supposed to be launched in June 2018 but launched earlier because of competitors like Ethereum and NEO. EOS was created by Dan Larimer. Similar to Ethereum, EOS is building a platform for developers to build decentralized applications and smart contracts, but better with a number of improvements in technology.
- CARDANO (ADA) - Cardano was created by Charles Hoskinson (Ethereum co-founder) in September 2017. Similar to Ethereum, Cardano is created for the purpose of helping developers create decentralized apps and smart contracts. Just like EOS, the difference between Cardano and Ethereum is the many technology improvements it has made. Cardano is considered to be the 3rd most advanced blockchain technology (Like EOS and NEO).
- LITECOIN (LTC) - Litecoin is an old cryptocurrency, it was founded by Charlie Lee in 2011 who is an ex-google employee. Similar to Bitcoin, Litecoin is a digital currency and does not provide a platform for smart contracts and decentralized applications. Litecoin has been around for 8 years and continues to thrive.
- Stellar (XLM) - Stellar was founded by Jed McCaleb in 2014, who is also the founder of Ripple (XRP), Ripple was hard forked into Stellar and the Stellar Development Foundation was created, and just like Ripple, Stellar is focused on making international payments more efficient. One proprietary thing about Stellar compared to all the other popular cryptocurrencies is that the Stellar Development Foundation is a non-profit organization, its mission is "With a team of top technology and finance professionals, the nonprofit Stellar.org expands access to low-cost financial services to fight poverty and maximize individual potential."
- IOTA - Founded in 2015, IOTA is said to be the most unique cryptocurrency among other similar cryptocurrencies. It is the only one to use a new protocol invention called "Tangle" rather than Blockchain technology. IOTA aims to make IoT more secure, seamless and scalable.
- NEO - NEO is a Chinese cryptocurrency, it was created in 2014 by Da Hongfei. At first, it was known as AntShares and rebranded to NEO in June 2017. NEO is extremely similar to Ethereum, in fact some people call it the "Chinese Ethereum" because of the similarities. It offers a blockchain-based platform for the development of Smart Contracts and launching ICOs.
Which one of these cryptocurrencies do you see making a change in the future for the better? each and every one of them offer a benefit and will only the digital world