Top 10 Most Popular Currencies
Virtual currency or game currency is private electronic money that is used to purchase and sell virtual goods in various online communities: social networks, virtual worlds and online games.
Crypto currency is a digital accounting unit, accounting for which is decentralized. The functioning of these systems takes place using a distributed computer network. However, information about transactions is usually not encrypted and is available in clear form. To ensure the stability of the database of the chain of transactions, cryptographic elements are used (digital signature based on a public key system, sequential hashing).
The term was fixed after the publication of an article about the Bitcoin system "Crypto currency" (Cryptographic currency), published in 2011 in the magazine Forbes. The very same author bitkoyna, like many others, used the term "electronic cash" (English electronic cash). For issuing different crypto-currencies apply different methods: mining, forging or ICO.
The economic essence and legal status of the crypto-currency are discussed. Depending on the country, crypto currencies are considered as a payment instrument, a specific product, may have restrictions on turnover (for example, prohibition of transactions with them for banking institutions).
The greatest demand among traders and crypto-investors is enjoyed by the digital currencies represented in the top ten ranking. This is due to various factors, and the most important among them - high liquidity, stable growth rate, prospects for further development of the ecosystem and the reputation of developers.
It is also worth noting that in the world of crypto currency everything is changing very rapidly. Nevertheless, at the time of this review, the cumulative capitalization of the first ten countries is $ 122.4 billion. If this number is compared to the total value of all the crypto-currencies ($ 138.8 billion) presented on this service, it turns out that the market share of the ten most popular digital currencies will be 88%.
Mining, also extraction (from English mining - extraction of minerals) - activities to maintain a distributed platform and create new blocks with the opportunity to receive compensation in the form of new units and commission fees in various crypto-currencies, in particular Bitcoin. Produced calculations are required to provide protection against the re-use of the same units, and remuneration encourages people to spend their computing power and support the operation of networks.
Mining is not the only technology for creating new blocks. Alternatives are forging (ing) and ICO. Usually only one technology is used, but some of the crypto-currencies use combinations of them.
The process of mining consists in the selection of such a value of Nonce, which will yield a hash whose numerical value will be no more than a certain number - Difficulty Target, the target level of complexity.
Example hashes for the same phrase, but with different additional parameters (the last line in the example has the least hash value):
"Hello, world! 0" => 1312af178c253f84028d480a6adc1e25e81caa44c749ec81976192e2ec934c64
"Hello, world! 1" => e9afc424b79e4f6ab42d99c81156d3a17228d6e1eef4139be78e948a9332a7d8
"Hello, world! 2" => ae37343a357a8297591625e7134cbea22f5928be8ca2a32aa475cf05fd4266b7
"Hello, world! 4248" => 6e110d98b388e77e9c6f042ac6b497cec46660deef75a55ebc7cfdf65cc0b965
"Hello, world! 4249" => c004190b822f1669cac8dc37e761cb73652e7832fb814565702245cf26ebb9e6
"Hello, world! 4250" => 0000c3af42fc31103f1fdc0151fa747ff87349a4714df7cc52ea464e12dcd4e9
In other crypto-currencies, the calculation of both the hash and the target level of complexity may differ significantly.
Bitcoin (ticker - BTC, sometimes - XBT)
Bitcoin (Bitcoin, from bit - "bit" and coin - "coin") is a peer-to-peer payment system using the same pay unit and the same data transfer protocol. To ensure the functioning and protection of the system, cryptographic methods are used. All information about transactions between system addresses is available in clear form.
The minimum transmitted value (the smallest amount of fragmentation) - 10-8 bitokoina - was called "satoshi" in honor of the creator of Satoshi Nakamoto, although he himself used in such cases the word "cent".
Electronic payment between the two parties occurs without intermediaries and is irreversible - there is no mechanism for canceling a confirmed operation or forcible withdrawal. But there is an opportunity to involve a third party-guarantor with the help of multi-signature. No one can block the funds (arrest), even temporarily, except for the owner himself. These and other smart contracts can be implemented using a special scripting language, but it is not available from the GUI and is not complete in Turing, unlike the newer block systems (see Ethereum).
Different authors differently classify bitcoins. Most often there are variants: crypto currency, virtual currency, digital currency, electronic cash.
Bitcoins can be used to exchange for goods or services from sellers who agree to accept them. Exchange for ordinary currencies occurs through an online exchange service of digital currencies, other payment systems or exchange offices.
Commission for the conduct of operations is appointed by the sender voluntarily, the size of the commission affects the priority in processing the transaction. Typically, the client program prompts the recommended amount of commission. Transactions without commission are possible and also processed, but are not recommended, since the processing time is unknown and can be quite large.
One of the main features of the system is full decentralization: there is no central administrator or any of its analogues. A necessary and sufficient element of this payment system is the basic client program (it has open source code). Running on multiple computers, client programs connect to each other in a peer-to-peer network, each node of which is equal and self-sufficient. It is impossible to manage the system publicly or privately, including changing the total number of bitocans. The volume and time of release of new bitcoins are known in advance, but they are distributed relatively randomly among those who use their equipment for calculations, the results of which are a mechanism for regulating and confirming the legitimacy of operations in the Bitcoin system.
The first in the history and the most popular in the world криптовалюта. Created at the turn of 2008-2009. Despite such a "venerable age", the crypto currency is actively developing, on the basis of the bitcoin block, developments are being carried out and various solutions are being implemented to improve it. It was the appearance of bitcoin that caused such a rapid development of the crypto-currency market and the regular appearance of a wide variety of digital assets. At the heart of bitcoin lies the revolutionary technology of blockade, which has been actively explored and developed by the largest companies of the world for many years, and is also used in many industries.
The current capitalization of bitcoin is $ 71 billion, which exceeds the cost of many large companies with a worldwide reputation. The offer of the first digital currency is strictly limited to 21 million BTC. On specialized sites, you can see the current supply of bitcoin on the market - 16,506,412 BTC, the daily stock trading volume, as well as various useful links to official information sources, social media, block reviewers, exchanges where this crypto currency is presented, etc.
Ethereum (ether [iːθə] - "ether", Etherium) - a platform for the creation of decentralized online services based on the block (Đapps, Decentralized applications, decentralized applications), working on the basis of smart contracts. Implemented as a single decentralized virtual machine. Was proposed by the founder of Bitcoin Magazine [en] by Vitalik Buterin at the end of 2013, the network was launched on July 30, 2015.
As an open source platform, Ethereum greatly simplifies the implementation of blocking technology, which explains the interest not only of new start-ups, but also of the largest software developers such as Microsoft, IBM and Acronis. Notable interest to the platform is also shown by financial companies, including Sberbank.
This is the digital currency platform for creating decentralized online services based on the blockbuster (Dapps), working on the basis of smart contracts. If bitcoin is often called "digital gold" (for the complexity of its extraction, limited supply and excellent investment quality), Ethereum is sometimes referred to as the "digital analog of oil." All because the ETH crypto currency is something like a "fuel" for smart contracts and the Dapps created on their basis.
In the crypto community, disputes about which investment object is more attractive - bitcoin or Ethereum - do not subside. Despite the relatively young age of the latter (the Ethereum network was launched on July 30, 2015), rather well-known personalities of the world prefer crypto currency. They are convinced that soon the popularity of Ethereum will eclipse bitcoin.
The rapid growth in the popularity of Ethereum is evidenced by the following chart, which reflects the share of the most popular crypto currency in the market:
So far, the market capitalization of "digital oil" ($ 28 billion) is less than the corresponding indicator of bitcoin by about two and a half times.
At the same time, the potential of Ethereum is high and attracts the attention of the largest software developers, such as Microsoft and IBM. On the Ethereum platform, a lot of ICO (Initial Coin Offering) is conducted, and on the basis of the underlying ERC-20 standard, many cryptotenes are created.
Ripple is a real-time gross exchange, money transfer and money transfer system developed by Ripple. Also referred to as the ripple transaction protocol (Ripple Transaction Protocol; RTXP) or ripple protocol. It is built on a distributed Internet protocol with open source code, a consensus register (ledger) and its own crypto currency, called XRP. Launched in 2012, Ripple aims to provide "safe, instant and almost free global financial transactions of any size without refunds". It supports tokens representing a currency, a crypto currency, a commodity, or any other unit of value, such as miles of frequent flyers or mobile minutes. At its core, Ripple is based on an open shared database or registry that uses the reconciliation process, which allows you to make payments, exchange and transfer of funds in a distributed process.
In 2014, Ripple defended the safety of its consensus algorithm against the rival - Stellar Networks. As of 2017, Ripple is the fourth crypto currency in terms of market capitalization, second only to Bitcoin and Efirium.
Used by companies such as UniCredit, UBS or Santander, the Ripple protocol is increasingly being used by banks and payment networks as a computational infrastructure technology, American Banker explains, "from the point of view of banks, distributed registries such as the Ripple system , have a number of advantages over crypto currency as bitcoin, including price and security.
This crypto currency is used in the real-time gross settlement system, as well as for currency exchange and money transfers. The Ripple protocol was launched in 2012. Its goal is to provide "safe, instant and almost free global financial transactions of any size without refunds". According to some crypto-intuizators, the Ripple payment system may become an "alternative to SWIFT" in the future.
The largest companies and banks of the world cooperate with Ripple, including BBVA, Mizuho, Mitsubishi UFJ, UniCredit, UBS and Santander. Among investors, Ripple names such as Accenture, Andreessen Horowitz, Google Ventures and Seagate.
The rapid rise in price Ripple (XRP) fell in the first half of this year and allowed the crypto currency to gain a firm foothold in the top three leaders in the Coinmarketcap rating. At the current time, the capitalization of the crypto currency XRP is approaching the 7 billion mark. There have been times when Ripple's capitalization exceeded the aggregate market value of the digital currency Ethereum.
Bitcoin Cash - crypto currency, fork Bitcoin, separated from it. Branching occurred on August 1, 2017.
The block size in the Bitcoin blocker is limited to 1 megabyte. When there were not too many transactions, this restriction had almost no effect whatsoever, but significantly limited the capabilities of the DDoS attack. With Bitcoin's popularity increasing, the number of transactions has increased, but because of the maximum block size limit, not all transactions were "placed" at once, a queue appeared periodically. In May 2017, the situation worsened. Some users complained that they have to wait for confirmation a few days. To speed up the processing, the user can assign an increased commission. But this makes the use of bitcoins quite expensive, especially for small payments - it makes no sense to use them, for example, in cafes and bars.
Bitcoin Cash is the "alternative to bitcoin" that has emerged as a result of the hard-core. So, on August 1, the bitcoin block was divided into two chains and a new digital asset appeared - Bitcoin Cash (sometimes - Bcash), which has a common history with bitcoin, but is traded under another ticker - BCC (less often - BCH).
After the hardcore, many exchanges and purses gave the holders of "digital gold" an excellent opportunity - to get a number of Bitcoin Cash tokens, which should correspond to the balance ratio of bitcoin in a 1: 1 ratio. For example, if the user on the wallet has 1 BTC, then he gets 1 BCC after the hardcore.
Immediately after its appearance on the stock exchanges, the new crypto currency was in third place in terms of capitalization, leaving behind such "veterans" of the market as Litecoin and Ripple. However, soon after the exchanges made Bitcoin Cash I / O available, the "alternative to bitcoin" began a sharp drop in price. So, if on August 2 the price of BCC reached the mark of 0,485 BTC (approximately $ 1,300) on the Bittrex exchange, then two days later its weighted average price slightly exceeded $ 250.
Not everything is going well with a new crypto currency. Bitcoin Cash is not as attractive to mining as the "ordinary" bitcoin, and its network is constantly experiencing various problems. Apparently, its new capitalization of $ 4.8 billion new crypto currency is only due to the popularity of bitcoin, no more.
IOTA - a new crypto currency developed for the Internet of Things (IoT), announced at the end of 2015. It is based on the new concept of the distributed accounting journal Tangle. IOTA, according to its creators, has a number of advantages over blockage in the case of a large number of micropayments - for example, 1 cent.
Micropayments in classical crypto-currencies face high commissions and a sufficiently long time for confirmation of transactions. In the blockroom, verification is completely separated from users, so for committing transactions, you have to pay commissions to the miners or share holders. In IOTA, there is no such division, it is a completely self-sustaining network in which there are no miners, and users themselves confirm the transactions of other users.
There are no commissions for transactions within the network, which makes it possible to conduct micropayments in real time, in addition, the system is infinitely scalable.
Description of IOTA crypto currency:
- It was founded in October 2015 as a solution to the Internet-of-Things (IoT) problem, as the transaction price in the blockroom is pretty big and it's not suitable for internet stuff (from the car to the bulb)
- There are no commissions for transactions within the network, which makes it possible to conduct micropayments in real time.
- Instead of the block, it uses a DAG-directed acyclic graph.
- Total in the system 2,779,530,283,277,761 Iota
- ICO / Crowdsale was in December 2015, collected 1,337 bitcoin for development.
- Founders David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. Popov came up with, Sergei and Dominik coded, David promotes.
- The more transaction - the faster they are confirmed.
- From March to June, she traded on her stock exchange.
Crypto currency exchange project for the Internet of things. It is based on the unique method of consensus Tangle. The main feature of the latter is the lack of miners. In addition, the network does not have commissions for transactions - the latter are mutually confirmed by the nodes of the network.
The uniqueness of IOTA also lies in the fact that network participants are not divided into users and transaction validators. Each node sends and confirms transactions that are not packaged in blocks (which distinguishes the IOTA tokens from the vast majority of other digital currencies). The bandwidth of the IOTA network is proportional to the number of nodes and their activity.
IOTA's tokens are traded predominantly on the popular Hong Kong exchange Bitfinex. It is noteworthy that other trading platforms are not yet rushing to include this innovative Crypto currency in the listing. On the other hand, IOTA is gradually gaining universal recognition. So, last month the specializing in micropayments SatoshiPay service announced its intention to refuse the use of bitcoin in favor of IOTA crypto currency.
If we consider the global prospects for a new crypto currency, they appear to be quite interesting. So, according to the research company TechNavio, from 2017 to 2021 gg. the aggregate annual growth rate of the global Internet goods market (Internet of Things, IoT) will be 4%. This means that the volume of the global IoT market will reach 1.37 billion dollars by 2021, with 81% of the market growth rate provided by a variety of electronic gadgets.
Recently, IOTA's crypto currency has demonstrated steady growth and the price of one token has reached $ 0.88. Market capitalization IOTA overcame a mark of $ 2 billion.
Litecoin (from English lite - "easy", English coin - "coin") - fork Bitcoin, a peer-to-peer electronic payment system using the same crypto currency. After Litecoin was activated, Segwit support solved the problem of scalability inherent in Bitcoin (currently it is possible to make a maximum of 7 transactions per second in the Bitcoin network), which can lead Litecoin to the first place in popularity among the world's crypto-currencies.
Litecoin is the second after Namecoin fork Bitcoin and has only slight differences from it. As of May 19, 2017, 1 LTC is equivalent to 42 USD on the BTC-E exchange and was the sixth largest total value of crypto currency.
Litecoin can be used for exchanging for Bitcoin or common money in exchangers, as well as for electronic payment for goods / services from sellers ready to accept them.
To ensure the functioning and protection of the system, cryptographic methods are used.
Popular fork bitcoin, often referred to as "digital silver". Lightcoin was one of the first to activate SegWit protocol support. However, Litecoin and before the activation of Segregated Witness differed significantly faster confirmation of transactions than the same bitcoin. Currently, the project continues to actively develop under the leadership of its famous creator, Charlie Lee.
For several years, Litecoin was "in the shade" of bitcoin and other crypto-currencies, trading around 3-4 dollars per coin. In March of this year, on the eve of the implementation of SegWit, a rapid increase in the price of "digital gold" began. Now the price of Litecoin is approaching the $ 50 mark for a coin and, according to many analysts, this is not the limit. Crypto currency is represented on most exchanges and exchange platforms, and is accepted by many companies as a means of payment.
The maximum volume of Litecoin offers is limited to 84 million tokens and currently 52.4 million LTC are in circulation on the market.
During the event at Microsoft headquarters in Beijing on Thursday, June 22, the digital assets platform Antshares, sometimes also called the "Chinese Ethereum", announced full rebranding, and also presented ambitious plans for further development.
Antshares is the first open source blockbuster, developed in China, but now this name becomes the property of history. From now on the project will be known as NEO [from the Greek. neos novelty, youth].
The developers also highlighted the benefits of their smart contract code, which will support decentralized commerce, digital identification and digitization of various assets.
The ANS symbol will be changed to NEO in the third quarter of 2017, when the new client and user interface will be completed. At the moment, ANS holders can automatically generate Antcoins (ANC) in their wallets, which will be used as gas.
As NEO founder Da Hongfei noted in his presentation, the future of blocking technologies implies that each asset will be programmed using smart contracts. Introducing the concept of "smart economy" and a new system of smart contracts, Da Hongfei also said that the platform creates a protocol compatible with other blockbusters.
The digital assets platform NEO (formerly known as Antshares) is often referred to as the "Chinese Ethereum". Recently, the project representatives completed the completion of the rebranding. In particular, the Chinese startup reported upgrading the block-nod, updating the technical documentation, social media, the official site, changing the ticker, as well as the successful transition to the system of smart contracts NEO 2.0.
The NEO coin has been demonstrating an impressive growth for a long time, which allowed the Crypto-currency to take the 7th Coinmarketcap rating in a short time. Over the past three months, the price of the crypto currency has grown approximately 20 times and now the NEO is trading around $ 45. The volume of the NEO offer is fixed and limited to one hundred million tokens, of which 50 million coins are in circulation on the market. The volume of market capitalization of the "Chinese Ethereum" exceeds $ 2 billion.
It is also worth noting that the project is very actively developing and has already established cooperation with well-known block-start-ups, including Bancor, Coindash and Agrello. Chinese block-start-up Red Pulse announced the creation of a platform for financial research, which will be built on the system of smart contracts NEO 2.0. Also, in cooperation with the NEO project, an operating system on a blockbuster called Elastos is being developed. According to the developers, it is designed to "study the technological value of using blocking applications in new Internet OS and further development of Smart Economy."
NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java, with a C ++ version in the works, NEM has new features for blockchain technology as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust ++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.
This digital currency gained fame in early 2015. From many other digital currencies it is distinguished by the original open source code and a number of interesting innovations. For example, the basis of the crypto currency XEM is the POI (Proof Of Importance) algorithm, the "proof-of-stake" modification. However, unlike PoS, in addition to proving the storage of a certain amount of money, the POI also takes into account the user's activity - the number of transactions performed by him. Receiving a reward for the block in the NEM network is called "Harvesting".
This year, we expect a major update called Catapult, during which NEM will switch from Java to C ++. The new version of the private network is tested for stable operation with a speed of up to 3000 transactions per second. Renovation will take place first in the private blockhouse Mijin, and then in the public chain NEM.
Also, a new COMSA platform is being developed on the basis of NEM, which is designed to support projects in carrying out transparent and orderly ICOs. According to the representatives of the project, the new solution significantly optimizes the process of attracting investments in digital currency.
The capitalization of XEM exceeds $ 2 billion. The coin is popular not only in its native Japan, but also actively trades on a number of major exchanges, including Poloniex and Bittrex.
Dash (formerly known as Darkcoin and XCoin) is an open, decentralized payment system that uses a mechanism called "Darksend" to make transactions anonymous.
In 2015, according to market capitalization, Dash had the fifth place among all crypto-currencies.
The launch of the crypto currency, which at that time was called Xcoin, occurred on January 18, 2014. From January 28, 2014 to March 25, 2015, the crypto currency was called Darkcoin.
The main features of Dash crypto currency are:
- transactions anonymous due to the Darksend mechanism;
- A combination of several cryptographic algorithms is used;
- Mining Dash requires less energy than bitcoin;
- decisions about the development of the system are made not by individual programmers, but by all members of the Dash network through the mechanism of decentralized management.
In the DASH network, there are so-called master codes - special nodes that provide the mechanism for mixing PrivateSend transactions. To stimulate the work of master crafts there is a reward, which is 50% of the reward of the miner for the found block. Also, in the DASH system, InstantSend instant messaging service is implemented. Another feature of DASH is the use of the X11 hash algorithm.
The DASH crypto currency has many supporters. Since its inception, the price of crypto currency has grown several hundred times and now Digital Cash is trading around $ 200.
Ethereum Classic (ETC)
Ethereum Classic (ETC) - a block-based cryptographic platform for developing decentralized applications based on open-source smart contracts. It is a decentralized Turing-complete virtual machine, the Virtual Machine of the Etherium (EVM), which can execute programs on public nodes of the network. Ethereum Classic provides the currency "Ether" (Classic Ether, ETC), which can be transferred from one network member to another and used to pay for calculations made by public nodes of the network, as well as the ability to create your own digital assets (tokens) on the Ethereum Classic . Ether, paid for the calculations made, is called "Gas" (Gas). Gas serves not only to pay for the calculations, but also prevents DDOS attacks on the network.
Ethereum Classic appeared as a result of disagreement with the accepted Ethereum Foundation "The DAO" hard fork. He united members of the Ethereum community who rejected the DAO Hard Fork on the philosophical grounds that were set forth in the Declaration of Independence of the Etherium Classic. People who had on the balance of ETH until the time of DAO hard fork (1,900,000 units) received the same ETC after making a hard fork.
Ethereum Classic went through a technical hard-fork to adjust the internal prices for various options of the Virtual Machine of the Etherium (EVM) on October 25, 2016, similar to the hard fork committed by Ethereum a week earlier. The purpose of the hard fork was a more rational distribution of payment for resource-intensive computing, which led to the elimination of favorable conditions for attacks that were conducted during the month on ETH and ETC. The hard fork, conducted in early 2017, successfully postponed the "complexity bomb" laid down in the Ethereum code since September 2015 with the goal of exponentially increasing the complexity of mining, the process of calculating new network blocks. The next hard fork is scheduled for the end of 2017 with the goal of changing the monetary policy with unlimited emissions to a similar bitcoyne.
The "twin brother" Ethereum (ETH) appeared in 2016 as a result of the hard-core. In other words, this crypto currency is the same Ethereum, before the hardcore. The goal of the project is to preserve the original Ethereum, decentralized, unchanged and uncontrollable censorship.
A year ago, many considered Ethereum Classic to be "stillborn," but this was far from the case. ETC is still in the list of top 10 crypto-currencies by market capitalization. A strong supporter of Ethereum Classic is the widely known crypto-enthusiast in the world and the head of Digital Currency Group, Barry Silbert. In many respects due to his efforts of the crypto currency, ETC appeared in the professional computer system of Bloomberg Terminal.
In general, the growth of Ethereum Classic greatly intensified in the spring of 2017, after the launch of Ethereum Classic Investment Trust. Further growth of Ethereum Classic expects to be stable, if only thanks to the balanced monetary policy of the project, which provides for the limitation of emissions and the reduction of the reward for the block. In particular, the total number of coins will be approximately 210 million, but not more than 230 million; as for the award for the extracted block, it will be reduced by 20% after the block at number 5 000 000 and will decrease by 20% thereafter after every subsequent 5 million blocks.
Via forklog.com & wiki