Top 3 Cryptocurrencies Dominating the Digital Currency World

By Playpal on Altcoin AcademyAbout 1500 or more cryptocurrencies are circulating in the digital and blockchain space today; while their decentralised and inflation-free design attracts users, there are many more factors that make digital currencies attractive. Below is a shortlist of the top 3 trending cryptocurrencies to date; take a look at the characteristics that give these currencies an edge over others in the market.1) BitcoinBitcoin is the crypto trendsetter, which is why its at the top of our list. Created in 2008, Bitcoin is the first-ever cryptocurrency and gave birth to the volatile digital currency ecosystem that we see today. The interesting part is, no one knows who created it, although the creator’s pseudonym (Satoshi Nakamoto) does exist. Like any other new digital currency, Bitcoin is based on a distributed ledger called the blockchain and has completely removed the need for a centralized intermediary for electronic payments. One of the reasons for its popularity is that it has the biggest community of developers and investors that further contribute to its growth. As a new user in the market, it is easiest to invest in Bitcoins since it is listed on all the major exchanges and is acceptable in the mainstream economy.2) EthereumEthereum is the second most valuable digital currency out there. Created in 2015, it is not only a cryptocurrency but also a platform on which smart contracts and decentralized apps can be developed. In simpler words, instead of developing your own blockchain (which takes time,expertise, and a lot of money) for data storage of some sort, you can simply use the Ethereum blockchain at a nominal fee. Not only this, but Ethereum is also a great platform for Initial Coin Offerings (ICOs) for other blockchain projects and even has a lower lower transaction time than Bitcoin (i.e. a few seconds for Ethereum versus more than 10 minutes for Bitcoin).3) RippleRipple is a specialized cryptocurrency that focuses on solving issues related to International Payment Transfers. Created in 2012, Ripple acts as a platform/medium through which banks can settle cross-border payments. By offering real-time global settlement that enables instant, low-cost, and certain international payments, Ripple provides its users with end-to-end transparency. What makes it even more attractive is that fact that Ripple is among the few cryptocurrencies that is actually being tested in the real world, having strategic ties with American Express and Santander.Closing RemarksBitcoin continues to lead the pack of cryptocurrencies in terms of market capitalization, user base, and popularity. Nevertheless, virtual currencies that also offer enterprise solutions, such as Ethereum and Ripple, are rapidly gaining popularity. Going by the current trend, cryptocurrencies are here to stay, but how many of them will emerge as leaders within the competitive crypto space will only be revealed with time.Altcoin Magazine 3 Cryptocurrencies Dominating the Digital Currency World was originally published in ALTCOIN MAGAZINE on Medium, where people are continuing the conversation by highlighting and responding to this story.
Go to Source
Author: Playpal