Cryptocurrencies are digital or virtual currencies that are protected by encryption and work on a decentralized network, like the blockchain. for the people who cryptocurrency trading, are considered an alternative to conventional fiat currencies, such as the US dollar or the Euro, and have gained popularity in recent years due to their ability to make fast and cheap transactions, as well as their potential to increase value. Bitcoin, Ethereum, and Litecoin are some of the best-known cryptocurrencies.
XRP, or Ripple, is a cryptocurrency that seeks to reduce the time and cost of international transfers. It is one of the top 10 cryptocurrencies by market capitalization and is used by banks and financial organizations to move money internationally. Ripple has progressively gained momentum in the market and has established relationships with major financial organizations such as Santander and American Express.
EOS is a cryptocurrency that enables decentralized applications (dApps) and smart contracts. It employs a new consensus technique known as delegated proof-of-stake (DPoS), which enables faster and more scalable transactions than classic proof-of-work (PoW) systems. EOS has also grown in popularity as a result of its active developer community, and has been used to create several successful dApps such as Everipedia and EOS Knights.
Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of Binance, one of the largest and most popular cryptocurrency exchanges in the world. BNB is used to pay Binance exchange fees and can also be used to purchase other cryptocurrencies. In addition to being used on the Binance exchange, BNB has become popular as a standalone cryptocurrency. It has a large market presence among the top 20 cryptocurrencies by market capitalization.
Cardano is a coin that aims to provide a secure and scalable platform for the creation and implementation of smart contracts and decentralized applications. It employs Ouroboros, a novel proof-of-stake (PoS) consensus process that seeks to enable faster and more energy-efficient transactions than typical PoW systems. Cardano has also received attention for its significant emphasis on research and development, as well as the large community of developers and researchers working on the project.
Monero is a cryptocurrency that prioritizes anonymity by hiding the sender, the recipient, and the number of transactions. It is well known for its strong privacy features and has gained popularity among those looking for a more secure and private method of conducting transactions online. Monero is one of the top 20 cryptocurrencies by market capitalization and has a strong market presence and a passionate fan base.
Tezos is a cryptocurrency that aims to provide self-improvement block chain platform. It employs a novel governance mechanism known as “on-chain governance,” which allows growth of the protocol through a voting system among token holders. Tezos has received praise for its novel approach to governance and has a leading position among the top 50 cryptocurrencies by market value.
Chain Link (LINK)
Chainlink is a cryptocurrency that promises to offer a secure and decentralized method of connecting smart contracts with real-world data. It leverages a network of decentralized Oracle nodes to deliver trusted data sources for smart contracts, and has gained momentum in the industry due to its emphasis on security and reliability. Chainlink is one of the top 20 cryptocurrencies in terms of market value and has formed strategic partnerships with big companies like Google and Oracle.
Bitcoin Cash (BCH)
Bitcoin Cash is a cryptocurrency that emerged from a sharp split in the Bitcoin network in 2017. By expanding the block size limit on the blockchain, it hopes to offer faster and cheaper transactions than Bitcoin. Bitcoin Cash is one of the top 10 cryptocurrencies by market capitalization and has a strong market presence. He also has a loyal fan base.
Classic Ethereum (ETC)
Ethereum Classic is a cryptocurrency that emerged from a strong split in the Ethereum network in 2016. It strives to uphold Ethereum’s initial idea of a decentralized network that is not controlled by a single organization. Ethereum Classic is one of the top 20 cryptocurrencies in terms of market capitalization and has a large number of loyal fans.
Dogecoin is a cryptocurrency that started as a joke but has grown in popularity and market presence due to its fun and light-hearted culture. Having started as a fork of the Litecoin network, Dogecoin is renowned for its fast and cheap transactions. Although Dogecoin started out as a joke, it is now one of the top 50 cryptocurrencies by market capitalization and has a large following.
NEM is a cryptocurrency that aims to provide a fast and secure platform for the creation and execution of smart contracts and decentralized applications. It employs a unique PoI (proof of importance) consensus process that considers a user’s entire contribution to the network rather than simply their computational power. NEM has a high market presence among the top 50 cryptocurrencies by market value, as well as a devoted fan base.
Zcash is a cryptocurrency that prioritizes privacy by hiding the sender, receiver, and number of transactions. It is well known for its strong privacy features and has gained popularity among those seeking a more secure and private method of conducting transactions online. Zcash has a high market presence among the top 20 cryptocurrencies by market capitalization and a passionate fan base.
IOTA is a cryptocurrency which aims to provide a scalable and secure foundation for the Internet of Things (IoT). It employs a novel consensus method known as “Tangle”, which enables fast and fee-free network transactions. IOTA has gained attention for its novel approach to consensus and is now among the top 50 cryptocurrencies in terms of market value.
Steem is a cryptocurrency that aims to provide a decentralized platform for the production and distribution of content. It is used to reward users for generating and curating content on the Steemit platform, and has gained momentum in the market due to its strong emphasis on community and content development. Steem has a high market presence among the top 50 cryptocurrencies by market value and a loyal fan base.
While Bitcoin, Ethereum, and Litecoin are the most well-known cryptocurrencies, several lesser-known cryptocurrencies are creating waves in the market. These lesser-known cryptocurrencies are increasing their position in the market and attracting a loyal community of supporters, ranging from privacy-focused coins like Monero and Zcash, to innovative platforms like EOS and IOTA.
It is essential to note that investing in cryptocurrency carries risks, and you should always do your own research and consult with a financial advisor before making any investment decisions. On the other hand, keeping an eye on these lesser-known cryptocurrencies and their evolution may allow you to discover new investment opportunities and possibly improve your market gains.
Alexia is the author of Research Snipers covering all tech news including Google, Apple, Android, Xiaomi, Huawei, Samsung News and more.