Cryptocurrency Guides

There are literally thousands of cryptocurrencies so we profiled the top cryptocurrencies based on market caps, utility, most dedicated developers, and cleanest history.

1. Bitcoin (BTC)

Bitcoin Logo HD Stock Images | Shutterstock

Bitcoin was created in 2009 by a developer under the pseudonym Satoshi Nakamoto. The goal was to create an open-source and trust-less transaction network that can cheaply send digital currency all around the world. This means that users can hold their own money and transact with each other without the need for any banks, governments, wires, or other financial intermediaries.

The deflationary nature of Bitcoin also means it will maintain (or GROW) its purchasing power – especially when compared to government controlled fiat currencies.

Bitcoin is defined by its base layer settlement reliability, commitment to true decentralization, and ushering in the advent of digital scarcity.

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2. Ethereum (ETH)

Ethereum (ETH) Logo .SVG and .PNG Files Download

Ethereum is an open source, decentralized, and distributed network that automatically executes actions based on predetermined smart contract rules. A smart contract is an auto-executing agreement between multiple parties that is recorded on the blockchain. Smart contracts operate on if, then logic, so if x action happens, y action occurs. The Ethereum Foundation describes the functionality as:

“Smart contracts are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.”

Ethereum’s goal is to create a trustless platform that automatically executes actions based on rules agreed upon by all parties involved.

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3. Binance Coin (BNB)

What is Binance Coin and how does it work? - We Hold Crypto

Binance Coin is another cryptocurrency built on a smart contract enabled platform. Binance Coin is not considered truly decentralized and is operated by a private company – Binance. Binance Coin started out as a way to pay for trading fees on Binance, but has since become the currency necessary to transact on the new Binance Smart Chain (BSC).

One of the positive tradeoffs of centralization is transaction speed, and Binance Smart Chain is a faster settlement platform than most cryptocurrencies and smart contract settlement networks.

Over 180 digital assets have been issued on the BSC and millions of users have used Binance Coin for utility purposes.

Full Review Coming Soon!

4. XRP (XRP)

File:Ripple logo.svg - Wikimedia Commons

Ripple is a privately-held financial technology company that offers a centralized, but global payment solution network called the Ripple Network (A.K.A. RippleNet). RippleNet functions as a payment rail that is built on top of Ripple’s consensus ledger: XRP Ledger. Ripple, the privately held company, funded the development of an open-sourced XRP Ledger.

Most cryptocurrencies try to connect individuals and solve their peer-to-peer payment needs, but Ripple was made to connect banks, digital asset exchanges, and other financial intermediaries while enabling real-time settlement and lower transaction fees. Decentralization is a spectrum, and XRP (Ripple) is known for sacrificing decentralization to optimize speed and flexibility for financial institutions and networks. Most XRP is owned by Ripple – the company that created it – and is released to investors/users on a somewhat unpredictable schedule.

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5. Tether (USDT)

Tether — A Potential Disaster Waiting to Happen | by Fraud Stamp |  Coinmonks | Medium

Tether was the first and most widely used stablecoin. Stablecoins are pegged to some kind of fiat currency or other asset (i.e. gold). Tether (USDT) is pegged to the US dollar and will not appreciate or depreciate compared to the US dollar. 1 Tether will always be worth $1USD.

Tether does a few things very well:

  1. Provide liquidity to exchanges as well as fast on/off board ramps for investors.
  2. Offer a hedge against cryptocurrency volatility – especially for short-term traders who aren’t actively trading, but don’t want to take money out of their account.
  3. Allow for remittances and payments in USD while still offering the speed, efficiency, and security of transacting over the Bitcoin, Ethereum, Tron, or other cryptocurrency networks.

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6. Cardano (ADA)

What is Cardano, and Why Is It One to Watch? - BlockSocial

Cardano is one of a number of competing blockchains that uses Proof of State (PoS) instead of Proof of Work (P0W). Cardano allows owners of its currency, known as ADA, to help operate its network and vote on any changes to its rules.

Developers can use the Cardano blockchain for features we’ve seen from other tokens, most notably: smart contracts and decentralized applications.

Cardano differs from the other projects by focusing on a research-driven, academic approach to design and functionality. Any changes or enhancements go through a formal verification process similar to institutional scientific research validations.

Full Review Coming Soon!

7. Polkadot (DOT)

Polkadot: Decentralized Web 3.0 Blockchain Interoperability Platform

Polkadot is a software network that works to develop a global network of computers to operate a main blockchain on top of which developers can create their own blockchains.

This is just one of a number of blockchains trying to grow an ecosystem of digital currencies, similar to Ethereum (ETH), Cosmos (ATOM) and Eosio (EOS).

Essentially, Polkadot was designed to operate two blockchains: the main network (relay chain) where transactions are permanent, and user-created networks (parachains).

Parachains are built for many different purposes and are integrated into the main blockchain. Because of this, parachain transactions benefit from the same security as the main chain while offering more flexibility and customization.

Full Review Coming Soon!

8. Uniswap (UNI)

File:Uniswap Logo and Wordmark.svg - Wikimedia Commons

Uniswap is one of the emerging decentralized finance (DeFi) protocols built atop the Ethereum network. Uniswaps leverages multiple crypto assets, including the native UNI cryptocurrency, to function similarly to a traditional exchange. The differentiator is that Uniswap isn’t owned by anyone and has no central operator or administrator.

The users who provide liquidity to this exchange, or maintain liquidity in these pools, are paid a portion of the exchange’s trading fees, along with a small amount of newly created UNI tokens. This is almost as if everyone who provides liquidity is a small owner of the exchange and receives a portion of trading fee income.

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9. Litecoin (LTC)

Litecoin (LTC) Embraces New Blue Logo Design after a Successful Debut at  the UFC - Ethereum World News

Litecoin was considered the first successful ‘altcoin’ after being created in 2011. Litecoin is a copy/paste of the Bitcoin protocol with a few, small changes.

  1. Reduced block times and fewer confirmations (faster speed but less security).
  2. 84,000,000 max supply.
  3. Litecoin uses a scrypt mining algorithm instead of Sha-256 (used by Bitcoin).

Litecoin tries to position itself as the “silver to Bitcoin’s gold” and believes that the two can not only co-exist, but complement each other.

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10. Chainlink (LINK)

Coinbase Pro to Enable Chainlink Trading - CoinDesk

Chainlink was created to incentivize oracles (data providers) to act as a bridge between blockchain smart contracts and outside data sources. Their goal is to incentivize oracles to behave honestly and accurately to improve smart contract blockchains across the cryptocurrency ecosystem. This has far-reaching effects that impact lots of different projects.

Every oracle connected to the Chainlink network is encouraged to provide accurate data since their reputation score is assigned to each. When nodes follow Chainlink’s rules and verifiably provide useful data, they are rewarded LINK, Chainlink’s native token.

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