10 Top Cryptocurrency List 2017
Cryptocurrency, ‘next-gen gold’ is trending payment and investment asset on the internet nowadays. In 2017, more investors are investing their money in cryptocurrency rather than investing in penny stocks, mutual funds, and some other investment, even causal investors are using places similar to SoFi to invest in cryptocurrency. The increased demand for cryptocurrency has taken the financial world by storm. Here, is 10 Top Cryptocurrency List 2017 which might have better scope in future.
Bitcoin, invented by Satoshi Nakamoto is the world’s peer-to-peer decentralized virtual and digital currency widely accepted and used in numerous real-world transactions. The advantages of Bitcoins over other cryptocurrencies are its network effect and proven security also it is more accessible and has largest developer ecosystem. It is now easier to make actual transactions with Bitcoin ATMs and widespread knowledge. Recently, Bitcoin hit a historic mark with its whopping value $5,856.10 on October 13, 2017. That is why it holds the position 1 in Top Cryptocurrency List 2017
Ethereum, proposed in 2013, is a decentralized platform that processes smart contracts. Ethereum assists applications to execute without encountering any chance of fraud or any third-party interference. These applications run on Ethereum blockchain, a powerful shared infrastructure. The Ethereum Wallet is a gateway to Ethereum blockchain that allows holding and securing Ether as well as using smart contracts.
Ripple, introduced in 2012, co-founded by Chris Larsen and Jed McCaleb operates on an open source is a peer to peer decentralized platform. It acts as a cryptocurrency as well as a digital payment network. Ripple provides the seamless transfer of money in any form globally using the power of blockchain. Through Ripple’s network, financial institutions like bank or any can process payments instantly, reliably and cost-effectively anywhere in the world.
4. Bitcoin Cash
Bitcoin Cash is now a separate cryptocurrency itself. Bitcoin Cash is essentially a replica of the existing Bitcoin but with one important feature i.e. additional block size capacity which increases the number of transactions processed per day and thus improving transaction speed. Bitcoin Cash as a breakaway part of Bitcoin has come to fulfill the original promise of Bitcoin as “Peer-to-Peer Electronic Cash”. Bitcoin cash provides their Merchants and users low fees, stable, secure, and reliable confirmations.
Litecoin is the most popular cryptocurrency. Litecoin is an open source fully decentralized global payment network which is instant and provides near-zero cost payments to its users in the world. Its main features are its faster transaction confirmation and improved storage efficiency. Due to its features and industry support, Litecoin is a better medium of commerce than Bitcoin.
Monero, launched in 2014 is an open source, secure and untraceable cryptocurrency. Monero is a privacy-oriented mainly focuses on decentralization i.e. it is secure digital cash transfer payment networks where transactions are kept secure from prying eyes and do not involve third-party to keep it safe. Monero offers fungibility because it is private by default and it is an alternative to Bitcoin also. It provides all the benefits without any privacy concern that decentralized cryptocurrency can possess.
Dash is an open-source fully decentralized P2P virtual currency. Launched in January 2014, formerly known as Darkcoin, is compatible with all existing cryptocurrencies. Its new features such as privacy and quick transaction, negligible transaction fee made Dash a strong contender in this breed. Dash’s additional function InstantSend offers confirmation within 1.3 seconds to its users who choose to pay the fee.
NEM first launched in 2015 in Japan by Makoto Takemiya is a first smart asset blockchain platform and peer to peer cryptocurrency. Through its new features such as encrypted messages, POI algorithm NEM has a goal of wide distribution model. NEM written in Java offers a platform for asset management such as currencies, notarizations and more.
IOTA a $2 billion cryptocurrency designed for internet things. Its features such as scalable, decentralized, modular, and less fee have made IOTA a compatible and efficient cryptocurrency. IOTA uses the ‘Tangle’ the main innovation behind it. The main advantage of IOTA is its transaction speed which increases as per user increases and also eliminates the need to pay ‘miners’.
10. Ethereum Classic
Ethereum Classic is an open source breakaway part of an existing Ethereum cryptocurrency. It assists application runs without any involvement of the third party. Ethereum Classic provides value token- ‘Classic ether’ which is traded on cryptocurrency exchange. It features smart contract functionality and tampering of transactions.