You are probably asking yourself how many cryptos are circulating in the world of digital money? As of April 22, 2020, approximately 5,392 cryptos are noted, ready to be mined and traded. These cryptocurrencies have 201 billion US Dollars in market capitalization.
In this post, we are going to provide you with the top cryptocurrencies you can find in the market today. So, if you want to know more about it, then keep reading.
Bitcoin
One of the popular cryptocurrencies in the market is Bitcoin. Way back in 2008, August, bitcoin.org, which is the domain name of Bitcoin, was established. After two months in the same year, a publication named “Bitcoin: A Peer-to-Peer Electronic Cash System” was published. According to the experts, the book was authored by Bitcoin’s creator, which is named Satoshi Nakamoto. Satoshi Nakamoto has a very mysterious background, and up until now, no one knows the person or group of persons behind this name.
According to the publication, the method of transacting bitcoin from one user to another can be done through the use of a peer-to-peer network. The first miner of the initial bitcoin was its creator, which has a corresponding reward of 50 bitcoin tokens.
Ethereum
Vitalik Buterin is the name behind the establishment of Ethereum way back in 2015, July 30. The creator is both programmer and researcher who works in Bitcoin Magazine. Being a researcher, he published a white paper that initially describes what Ethereum was in 2015. According to Buterin, Bitcoin requires scripting knowledge. Thus, he had an idea to create another platform, other than Bitcoin, that has a more general scripting knowledge.
The said form of cryptocurrency was run through the help of an online crowd sale way back in July 2014 and August of the same year. The system gained many followers immediately, and around 13 percent of its overall supply, which is 11.9 million coins, was mined already. After the disestablishment of The DAO project way back in 2016, Ethereum was divided into 2 different blockchains named Ethereum Classic, the original blockchain of the crypto, and Ethereum, which is the latest version.
Ripple
The Ripple Company is the creator of Ripple, which is considered to be an RTGS (Real-Time Gross Settlement System). In some cases, crypto followers called this Ripple protocol or Ripple Transaction Protocol.
Ryan Fugger developed the idea of Ripple. The development of this form of crypto was founded way back in 2004 to develop a monetary system that would allow the users to make their money. Take note. Ripple is also a decentralized type of cryptocurrency.
After a year of its development, RipplePay.com was established. It is a system that enables the members to have a more secure payment transaction through a global network. In 2011, Jed McCaleb started to create a digital money system. All the transactions will be verified by the consensus of the members working in the network, instead of following the mining process adopted by Bitcoin, which uses a blockchain ledger to work.
The latest version of this system was intended to get rid of the centralized exchanges of Bitcoin. Aside from that, it is also designed to perform quicker crypto transactions and use lesser electricity compared to Bitcoin.
Litecoin
The creator of Litecoin, Charlie Lee, was a Google’s past employee. Lee released this form of crypto to the public in October 2011. It works quite similarly to a Bitcoin, but it uses less block generation time. As a result, you may notice an increase in coin numbers that come with the various script-based algorithm.