What is Cryptocurrency?
In this post, we will talk about “top 10 best cryptocurrency list to invest / Trade / Buy in 2018 “. Cryptocurrency is a digital commodity or asset programmed to serve as a means of exchange using cryptography and blockchain technology to protect its user’s transactions. Cryptocurrency regulates the production of more digital currency. It has three subcategories, which includes the digital currency, virtual currency, and alternative currency. Related reading, see: (How to Read a Bitcoin Transaction)
The present digital currencies are gradually becoming accepted among people who find it to be a lot easier for their transactions. These digital currencies are changing the money and business world.
A Glimpse of Cryptocurrency Market
As the world of the cryptocurrency continues to evolve, one cannot help but notice that the cryptocurrency industry is here to stay. In the digital currency industry, there are various types of digital currencies used by several people in the world. Among all these cryptocurrencies, we have handpicked the best ten of them. When trading cryptocurrencies, it is important to know about the cryptocurrency that you are trading. If a user decides to trade a non-reputable or profitable digital currency, such user stands to be at risk.
Related readings, see:
Top 10 Best Cryptocurrency List to Invest
Bitcoin is a popular household name in the cryptocurrency industry. It leads all other digital currencies as the world of digital currencies started from it. A person or group of persons under the pseudonym Satoshi Nakamoto created Bitcoin. It is created on a decentralized system. Bitcoin makes use of a peer-to-peer network, which has become the standard for every other cryptocurrency. Bitcoin allows its users to carry out several types of transactions, which includes trading of Bitcoins and so on. The emergence of Bitcoin has led to the creation of other cryptocurrencies. Bitcoin can be gotten in several ways, which includes, Bitcoin mining, Faucets, and Bitcoin trading.
Related reading, see: (Bitcoin Price Prediction (Should You Invest in Bitcoins-Answered))
Ethereum is another type of digital currency. It is an open-source and a public digital currency that is based on the blockchain system. It makes use of a decentralized virtual machine known as EVM (Ethereum Virtual Machine). This machine can execute scripts with the use of international public nodes. Ethereum makes use of a token known as ‘’other’’. This cryptocurrency token can be transferred between accounts, and it can be used to compensate a participant node for the computation performed. Using Ethereum, the person can do business with someone that he/she does not know. This is because it allows users carry out smart contracts. All the terms and regulations are stated in the smart contract, which is embedded in the blockchain.
Also, see our other Ethereum Guides:
- 10 Best Ethereum Mining GPUs
- 5 Best Ethereum Mining Pools
- 10 Best Ethereum Wallets
Litecoin cryptocurrency was launched in the year 2011. A former Google engineer known as Charlie Lee created Litecoin. It was released under the MIT/X11 license, and it is based on an open-source network. It has a decentralized system, and no central authority controls Litecoin. Litecoin is similar to Bitcoin as the creation of it was inspired by the Bitcoin currency. Litecoin makes use of what is called ‘script’ as a proof of work. This script is decoded with the assistance of the consumer grade CPU. One advantage Litecoin has over Bitcoin is the fact that it generates blocks at a faster rate, which helps it to be faster when confirming users’ transactions. Related reading, see:( Could LiteCoin be the Next Bitcoin )
Ripple cryptocurrency is a real-time exchange, settlement network, and remittance system. It enables certain instant and low-cost international payment for users. Ripple is also known as Ripple Transaction Protocol or Ripple Protocol. It is based on a decentralized, open source internet protocol and a public ledger. It is also built on a currency called XRP. An advantage of Ripple that sets it apart from Bitcoin is that Ripple does not need the method of mining which in turn, reduces the use of the computing power. Also, see Top Ripple Wallets.
Namecoin is another well-known cryptocurrency that happens to be the first project fork of the Bitcoin software. It is similar to Bitcoin as it is built on the Bitcoin code. It makes use of the popular proof-of-work scheme, and it has a limitation of twenty-one million coins. One advantage Namecoin has is its ability to store information or its user’s data within its Blockchain transaction database. Furthermore, Namecoin is an experimental open-source system comes with an improved decentralized technology, more privacy, good security, censorship resistance, Apart from these, Name coin can be used to protect online free-speech rights; it can also help attach identity information to an identity of the user’s choice. This information could include GPG Keys, OTR keys, Bitcoin addresses, etc. It can be used for decentralized TLS that is backed by blockchain consensus. Users can also access websites using a bit top-level domain. Related readings, see: (5 Best Namecoin Mining Pools (Comparison))
Dash was formerly known as Darkcoin. Evan Duffield produced and developed Dash, which later launched in January 2014. In the year 2015, Darkcoin rebranded, and it adopted the name Dash. It is a more secretive model of Bitcoin. This cryptocurrency offers more secrecy to users. It operates on disperse master code structure that allows business transactions to practically be untraceable. Dash can be mined with the use of a CPU or a GPU.
Also, see our other Dash Guides:
- 5 Best Dash Wallets to Store Dash Coins (Reviewed)
- 5 Best & Biggest Dash Mining Pools (Comparison)
- 7 Best & Biggest Dash Exchanges (Reviewed)
Zcash is another cryptocurrency that is built on a decentralized and open-source system. It is similar to Bitcoin as it provides its users with privacy options and transparency in a user’s transactions. Zcash records all its users’ transactions on a blockchain. Users also get the opportunity to shield their transactions. If this is done, such user content becomes encrypted with the use of an advanced cryptographic technique. Related reading, see: (Top 7 Zcash Mining Pools (Comparison))
Montero is a secure digital currency that provides privacy and anonymous features for its users. It was launched in April 2014, and it is built on a different system known as the Crypto Note Protocol. This cryptocurrency has an important algorithm difference.
Dogecoin is a cryptocurrency that is similar to Bitcoin. It is built on a modified Bitcoin protocol. It makes use of ‘script’ for its proof of work. It’s time off has a block time of sixty seconds. More so, there is no limitation on the amount of Dogecoin a person can produce.
Peercoin is a cryptocurrency that was inspired by the most popular digital currency, Bitcoin. It is known as PPCoin and PPC. It is a peer to digital peer currency that makes use of the proof of work scheme and the proof of stake system. Peercoin shares nearly all its source code and technological implementation with Bitcoin. It has a distributed or decentralized source code under the software license of MIT/X11. It does not have a limitation on a number of coins that can be produced.
What Investors of Cryptocurrency know
In summary, as of December 2018, there were over thirteen hundred cryptocurrencies available. Among all of these cryptocurrencies, there are only a few reputable and trusted ones. Above are the digital currencies that are well known and trusted. Nevertheless, Bitcoin continues to lead all digital currencies as the cryptocurrency market evolved around Bitcoin. Now you need to invest in ICO’s. After some time, and successful launching, prices for ICO’s will be very high and you should be investing now.
ICO Guides by Prooworld
- Initial Coin Offering (ICO) – (Breaking Barriers in Cryptocurrency World)
- 9 Best ICO List to Invest at Beginning of 2018
- 6 Best Upcoming ICO’s List to Invest in 2018