The Most Common Cryptocurrencies
Bitcoin, which is the most well-known crypto-currency today, is actually only one of the cryptocurrencies. It is known that Bitcoin has caused the emergence of a lot of cryptocurrency in 10 years since 2008. Is there any possibility of knowing all the cryptocurrencies that are being produced right now?
According to Coinmarketcap data, there are more than 1400 cryptocurrencies and they are increasing day by day.
Here are the most common and most widely used cryptocurrencies:
Bitcoin: The first cryptocurrency that has started it all. You can also check “What is Bitcoin?”.
Ethereum: It is the programmable currency that allows developers to create different distributed applications and technologies that are not similar to Bitcoin. Basically, all movements are created with nets.
Ripple: Unlike most cryptocurrencies, it does not use the blockchain to reach a network-wide consensus in transactions. Instead, a repetitive consensus process is implemented that makes it faster than Bitcoin, but it is more open to pirate attacks.
Bitcoin Cash: The largest Bitcoin mining company and a fork of Bitcoin, backed by ASICs Bitcoin mining chip makers. Although it exists for only a few months, it has risen to the first five cryptocurrency units in terms of market value.
NEM: Contrary to crypto money, which takes advantage of the proof of work algorithm, it uses proof of importance. Thus, in order to be able to receive the new ones, the users must already have a certain amount of digital money. Users encourage their money to spend and track transactions to determine how important a particular user belonging to the overall NEM network is.
Litecoin: A cryptocurrency created with the intention of “digital silver” when compared to Bitcoin’s “digital gold”. It can also generate blocks four times faster than the primaries in a Bitcoin fork, and can have a maximum price of four times 84 million units
IOTA: This cryptocurrency’s registry technology is called “Jumble” and a sender has to make proof of work that approves two transactions. Thereby, it removes the dedicated miners from the process.
NEO:It is a smart contract network that provides all kinds of financial contracts and third-party decentralized implications to be developed on it. Much of the goal is the same as Ethereum, but Neo has been developed in China. This can potentially offer some advantages due to improved relations with Chinese regulators and local businesses.
Dash:This is a two-tier network. While the first layer is the miners that ensure the security of the network; the second layer consists of “master nodes” that transfer operations, send instants, and activate transactions like the first layer priority sender. The first is significantly faster than Bitcoin, while the second layer is completely anonymous.
Qtum:This is a combination of Bitcoin and Ethereum technologies targeting applications of proof of work. This network carries the credibility of Bitcoin while allowing the use of smart contracts and distributed applications known to work within the Ethereum network.
Monero:Cryptocurrencies with special trading abilities and their open and confidential purposes with one of the most active communities. It is safe and independent. There is privacy in the system, not monitored.
Ethereum Classic: An original version of Ethereum. After the original Ethereum was copied and configured by an anonymous organization, the division took place.