Digital currencies are becoming more and more popular with Bitcoin leading the pack. However, there are many other digital currencies that are being traded on a daily basis. In this blog post we will take a look at the most traded digital currencies.
Bitcoin (BTC)
Bitcoin is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies products and services. As of February 2015 over 100,000 merchants and vendors accepted bitcoin as payment.
Ethereum (ETH)
Ethereum coin is a digital asset with a smart contract platform. It is the second-largest cryptocurrency by market capitalization after Bitcoin. Ethereum was proposed in 2013 by Vitalik Buterin a Russian-Canadian programmer. Buterin had initially built upon the work of prior developers to create a blockchain platform that would be more programmable and could be used for more complex applications than Bitcoin's.
Ethereum's coin ether (ETH) is used to pay transaction fees and gas costs. Gas is a unit of measurement that defines the computational effort required to execute a transaction or program on the Ethereum network. One ETH is worth $1,724 as of January 2021.
Tether (USDT)
Tether coin is a digital currency that is backed by real world assets. It is designed to work with blockchain technology and provide a way to store value that can be used in transactions. Tether coin has been used to purchase goods and services as well as to trade on exchanges. It is also being used by some businesses as a way to store value and hedge against volatility in the cryptocurrency markets.
USD Coin (USDC)
The USD Coin is a cryptocurrency with a value pegged to the U.S dollar. The coin is used to purchase goods and services on the internet and is traded on exchanges like other cryptocurrencies. Unlike other digital currencies the USD Coin is backed by the U.S government and can be redeemed for cash at participating banks. The coin was launched in 2018 and has a market capitalization of over $1 billion as of 2021.
BNB (BNB)
Binance coin (BNB) is the native cryptocurrency of the Binance Chain blockchain platform. It is used to pay fees on the Binance exchange and can be used to pay for goods and services on the Binance Decentralized Exchange. BNB tokens are also used as collateral for borrowing funds from the Binance Margin Trading service.
Binance USD (BUSD)
Binance USD is a stablecoin that is pegged to the US Dollar. The coin is issued by Binance and backed by the US dollar. Binance USD can be used to trade on the Binance exchange and used to pay for goods and services. The coin is also available on other exchanges such as Coinbase.
Cardano (ADA)
Cardano is a cryptocurrency that is native to the Cardano blockchain. Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a global collective of expert engineers and researchers. The project was co-founded by Charles Hoskinson who was also one of the eight original co-founders of Ethereum.
XRP (XRP)
XRP is a digital asset built for payments. It is the native cryptocurrency of the Ripple network which is a real-time gross settlement system (RTGS) currency exchange and remittance network. XRP can be used to source liquidity for cross-border payments or as a bridge currency in situations where neither party has the desired currency. As of September 2019 XRP was the third largest cryptocurrency by market capitalization.
Solana (SOL)
The Solana currency (SOL) is the native cryptocurrency of the Solana blockchain. It is used to pay transaction fees and rent on the Solana network. SOL can also be staked by validators to earn block rewards.
Polkadot (DOT)
Polkadot is a new cryptocurrency that offers a unique approach to scalability and security. It is designed to be more scalable than Bitcoin and Ethereum while also providing a higher level of security. Polkadot is still in development but it has the potential to become a major player in the cryptocurrency space.
Dogecoin (DOGE)
Dogecoin is a cryptocurrency that was created in 2013 as a parody of Bitcoin. It features the Shiba Inu dog from the "Doge" meme as its logo and has become popular among cryptocurrency enthusiasts. Dogecoin has a total supply of 100 billion coins and a transaction fee of 0.01 DOGE.
Dai (DAI)
Dai is a digital currency that is price stabilized against the US Dollar. Dai is created by the Maker Protocol and backed by collateral held in a decentralized network of Ethereum smart contracts. Dai is an example of a decentralized stablecoin meaning it does not rely on any central authority for its stability. Instead price stability is achieved through the interaction of multiple forces in the Dai ecosystem including market demand for Dai actions taken by Maker's decentralized governance to adjust the supply of Dai and interactions between external actors in the broader ecosystem.
Shiba Inu (SHIB)
The Shiba Inu (SHIB) coin is a decentralized cryptocurrency that was created with the Dogecoin fork in August 2020. The SHIB community believes that Dogecoin has lost its way and become too centralized so they created SHIB to be a more community-driven project. The SHIB team is anonymous but they are active on social media and have a strong presence in the crypto community. The coin has gained a lot of popularity due to its meme-inspired design and its low price.
TRON (TRX)
TRON coin (TRX) is a digital currency that was created in September 2017. The coin is based on the blockchain technology and is intended to be used as a means of payment for goods and services. TRON has a total supply of 100 billion coins and a circulating supply of 65 billion coins. The coin has a market capitalization of $2.4 billion and is ranked 17th on CoinMarketCap.
Wrapped Bitcoin (WBTC)
Wrapped Bitcoin (WBTC) is a digital asset that is backed by real bitcoins. Each WBTC token is equivalent to one bitcoin making it easy to trade and use in various Ethereum-based decentralized applications (dApps). WBTC was created in order to bring the benefits of bitcoin to the Ethereum network including increased liquidity lower transaction fees and faster transaction times.
LEO Token (LEO)
LEO token is a cryptocurrency token issued by the iFinex financial technology company. It was created as part of the company's efforts to raise funds to offset losses incurred during the 2018 hack of their Bitfinex exchange. LEO tokens are traded on a number of cryptocurrency exchanges and can be used to purchase goods and services on the Bitfinex platform. The price of LEO tokens has fluctuated since its launch but has generally trended upwards.
Avalanche (AVAX)
Avalanche is a cryptocurrency launched in September 2020. It is a platform that enables the creation and deployment of decentralized finance applications. The native token of the Avalanche network is AVAX. It is used to pay transaction fees and incentives to validators who secure the network. AVAX can also be used to create custom tokens on the Avalanche platform.
Lido Staked Ether (STETH)
Lido Staked Ether (STETH) is a new cryptocurrency that was created to help people stake their ETH and earn rewards. It is similar to other Ethereum staking coins such as MakerDAO and Compound but with a few key differences. One of the biggest differences is that Lido Staked Ether is an ERC20 token which means it can be stored in any Ethereum wallet. Another key difference is that Lido Staked Ether has a much lower minimum stake than other Ethereum staking coins which makes it more accessible to a wider range of people. Lastly Lido Staked Ether offers a higher return on investment than other Ethereum staking coins making it an attractive option for those looking to earn rewards from their ETH holdings.
Litecoin (LTC)
Litecoin is a cryptocurrency that was created in 2011 as a fork of the Bitcoin protocol. It is similar to Bitcoin in many ways but it has a faster block generation time and a larger number of total coins. Litecoin is often seen as the silver to Bitcoin's gold and it has been adopted by many businesses as a payment method.
FTX (FTT)
FTT is a cryptocurrency token and operates on the Ethereum platform. FTT has a current supply of 10,000,000 with 6,500,000 in circulation. The last known price of FTX Coin is $0.023064 USD and is up 1.76% over the last 24 hours. It is currently trading on 4 active markets with $4,741.03 traded over the last 24 hours.
The digital currency markets are constantly changing and evolving. So it's no surprise that there are a variety of different digital currencies being traded. In this blog post we take a look at the most traded digital currencies .
Comments
Post a Comment