The internet has brought innovation over the years. One of them is the possibility transferring value over the world with merely a click of a button.
It was becoming cumbersome and cost too much in fee for using a company like the Western Union or wire transfer from your bank. The revolution happened eight years ago with the invention of Bitcoin. Now, there is a variety of cryptocurrency on the market. Every altcoin brings features like a smart contract, the business blockchain, and improvement of security. But, the dominance of Bitcoin continues to hold his position on the top with a market of 14.8 billion USD $.
Here are the 10 most popular cryptocurrency in order of importance:
1- Bitcoin: The most popular cryptocurrency today. The number of people is increasing every day, and in 2017 it has the possibility to reach the mainstream. No government controls this currency, and it is decentralized. The currency is volatile, but growth in value over time and can be an excellent opportunity for investment.
2- Ethereum: The second most popular on the market, and I predict it is going to increase in popularity. The platform offers to build smart contract with the integrated solidity programming language. You can create your project and sell your shares in cryptocurrency. Many projects are constructed on this platform, and new ideas will come into the market with Ethereum.
3- Ripple: The philosophy behind this technology is to enable the internet of value. The project is to authorize the banks to transfer money globally at low cost. It creates news revenue stream for them, and reduce cost on money transfer from bank to bank.
4- Litecoin: This cryptocurrency is another altcoins like Bitcoin. The money supply, limited at 84 million LTC as compared to 21 million BTC. You can make almost the same as holding your Bitcoin. The downside, at the moment, it is not as popular with only 200 million $ market cap.
5- Monero: This one is very popular these days, and it is untraceable on the internet. With Bitcoin, every transaction is transparent in the ledger, Monero doesn't appear anywhere. If your security is important to you, and you want to have control of your fund without worrying seeing how you spend your money displayed on the internet; this cryptocurrency will become very familiar in the future.
6- Ethereum Classic: This project has split from the Ethereum after the implementation of a hard fork. The community split in half and the people on this one want to stay with the original philosophy without any interference from the outside.
7- Dash: This cryptocurrency offers the same thing as Bitcoin or Litecoin. You can have control of your money the decentralized way. The value of this one is almost 112 million USD, have good security in place, can purchase any product that accepts the currency or you can contribute to any charity of your choice.
8- Maidsafe: This one is very original, instead of using a central storage operator like google drive, you can share your encrypted data with the community the decentralized way. Furthermore, you can make money and get pay in this cryptocurrency if you share some unused disk space from your computer. I think it is an excellent way to share data with the world without a central operator.
9- Nem: The main web page doesn't offer much information on this one. The core team should spend more time to explain more the project. From what I understand, you can make private and public blockchain and implement multisig security. The multisig technology is like a joint bank account where you need two signatures to get your money; in our case, it is a transaction “validated” by more than one person in order to be valid. If you are interested in learning more about this project, you can try to find deeper information on their website or youtube.
10- Angur: This is an exciting project on a prediction market platform. You can ask people a question on any market, and bet on the outcomes of the event occurring with the purchase shares on the platform. If you're right about the fact, you make money, the opposite you lose your shares. I think with this platform; you can have more accurate answers from many people instead of one guru.
As you can see, this is the top 10 in the cryptocurrency market at the moment, much more exist out there. From the reading I made lately, Ethereum and Monero should become famous in 2017. And, Bitcoin is still Bitcoin, it will continue to stay stable, and I think the price will continue to rise.