Generally speaking, cryptocurrencies are virtual money that is represented by tokens or coins. Cryptocurrencies are digital currencies that can be used to pay for goods and services, while using a strong form of encryption to ensure the safety of transactions. There is a lot of competition in the cryptocurrency market and most currencies have not gained much traction.
In this article, we will identify and discuss the top leading cryptocurrencies in the world
1. Bitcoin/BTC
The first cryptocurrency was launched by Satosh Nakamoto in 2009; it is the most popular cryptocurrency nowadays. With bitcoins, you can make transactions just like with standard currency, but without the banks taking a cut. To create bitcoin, a code containing numbers, letters, and other characters is encrypt and used. A virtual key can be created using the same equation as that used to create the code. There is no doubt that bitcoin is the most popular cryptocurrency and its price movement has a great effect on the rest of the crypto market.
2. Ethereum (ETH)
ETH launched in 2014. The Ethereum blockchain allows you to build global financial products decentralized from centralized authorities. Ethereum is a blockchain network used for verifying and recording transactions.
3. Litecoin (LTC)
The Litecoin (LTC) cryptocurrency was launched in October 2011, by a former Google engineer named Charlie Lee. The developers of Litecoin created it to resolve the long waiting time for confirmations in Bitcoin and its scalability concerns. With Litecoin, transaction volumes will be able to grow faster and more efficiently, storage will be more efficient, and the industry will be more supported in general.
4. Cardano (ADA)
In the entire cryptocurrency industry, Cardano (ADA) has been one of the fastest-growing blockchain assets. It was founded in 2015 by Ethereum co-founder Charles Hoskinson. Cardano is an open-source project that aims to be both a smart contract platform and a traditional asset based cryptocurrency. It is a blockchain-based cryptocurrency network based on cryptocurrency.
5. Ripple (XRP)
The Ripple (XRP) was developed by David Schwartz, Jed McCaleb, and Arthur Britto in 2011. In June 2012, the XRP Ledger was launched. The actual cryptocurrency XRP is a token that facilitates currency transfers on the Ripple network. It's a payments settlement system and currency exchange network that can process transactions around the world. The service is designed to be used by merchants and buyers who use different currencies to send money quickly across Ripple's network.
