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Types Of Cryptocurrencies

Cryptocurrencies

After the invention of the Bitcoin, many other alternative online currencies named as altcoins have come into existence. Altcoins are the modified version of the Bitcoins. The Bitcoin is a benchmark for all other currencies in the online world. The altcoins are easy to mine in contrast to other online currencies. Here I have filtered 6 Cryptocurrencies out of 700 online currencies.  Below is the list of cryptocurrencies by market cap.

1.     LTC (Litecoin)

Litecoin was first introduced after the year 2011 and it is the second renowned currency after the launched of Bitcoin. The LTC is also famous with the name of Bitcoin’s gold. The founder of LTC was Charlie Lee (Google Engineer and MIT Graduate).  There is no main regulator of the LTC and the value of this online currency is interpreted with the help of Consumer grade CPUs. There is no great difference between these two currencies, it facilitates you with faster transaction confirmation due to the higher capacity of block generation.  On June 21, 2018, the market cap on Litecoin was at 4.89 billion dollars and the amount of the merchants is constantly increasing.

2.   ETH (Ethereum)

Analysts consider Ethereum 2nd  best online currency. This digital currency was first introduced in the year 2015. This currency allows the merchants to start the smart contracts. The facility of DApps is controlled easily without any fraud. The third party can’t interfere or interrupt in the Ethereum smart contracts. The tailored made blockchain runs the app and value are distributed over the powerful infrastructure with ownership rights. The Ethereum system develops the markets and transfers the funds according to a will or futures contracts without the involvement of the third party. The Ethereum foundation started its operation in Switzerland and the first presale was in the year 2014. Ether is a cryptographic token used on which Ethereum application runs. Ether works like a moving vehicle and many applications run inside the Ethereum by developers.

The Ethereum has been divided into two parts, one is names as Ethereum and other is known as Ethereum classic. The capitalization amount in Ethereum is 41.4 billion dollar after the Bitcoin. The market cap is at 47.47 billion dollars and in mid of 2018, it was at 525.77 dollars. So it is the best cryptocurrency to invest in the year 2018.

3. ZEC (Zcash)

The Zec was introduced at the end of the year 2016. Zcash is a distributed and free of source cryptocurrency.

If the Bitcoin is like a brain then the ZEC is like a heart for money. ZEC has brought more clarity, privacy, and security in the transactions to the investors. The name of the sender and recipient with money amount kept secret by the ZEC system. The ZEC Market Cap was at 713 million dollars in the mid of 2018.

4. Darkcoin (Dash)

The cryptocurrency old name is Dash, which means Digital cash. The Dash is the new name of the Darkcoin. The main advantage of this currency is privacy. It works on the decentralized platform and it is impossible to trace the transactions. The currency was launched in the year 2014 and gain popularity in short time.

The Evan Duffield is the inventor of this digital currency. You can mine this currency with GPU or CPU Source. Dash is the new brand name of the Darkcoin. However, the Dash is operating on the old technology as Darkcoin. At the end of June 2018, the market cap of Dash was 1.999 billion increased to 261.03 dollars.

5. Ripple

Ripple network facilitate you with the low-cost instant transfer of payments.  Bank can make international payments through ripple network with clarity and fewer costs. The market capitalization is at 1.26 billion dollars after its release in the year 2012. Its unique features don’t require you to mine the currency.

The market cap for ripple in the mid of 2018 was at 18.9 billion dollars.

6. Monero

The currency was established in April 2014. The people soon start making an investment in this community and donation based cryptocurrency.  The ring signature technology makes it possible for the Monero to process the transaction with privacy.

The market cap for the Monero is 1.812 billion in the mid of 2018.

The Bottom Line

Above I have explained the list of cryptocurrencies by market cap. The cryptocurrency prices increase or decrease depending on the market trends. The enterprises are increasingly used Ethereum and Ripple. Nowadays competition is increasing, the new innovative cryptocurrencies are coming in the market and it is hard to stay at the top for any online currency. Due to fluctuation in Cryptocurrencies prices, nobody can determine without proper guidance which is the best cryptocurrency to invest 2018