Market capitalization ranks Cryptocurrencies. The value of a cryptocurrency immediately reflects investor desire. However, there are more complex stories behind the numbers about each cryptocurrency. Each crypto has its technological features for buyers and unique backstories.
Here are a couple of the largest and well-known cryptocurrencies.
Bitcoin is a blockchain-based cryptocurrency created in 2009 by Satoshi Nakomoto. It has since attracted millions of investors, which helped Bitcoin to become the largest cryptocurrency by market cap.
Bitcoin is essentially limited: only 21 million Bitcoin can ever be produced after mining. The crypto’s blockchain became an example for other cryptocurrencies in creating decentralized mechanisms.
Ethereum is also a blockchain-based cryptocurrency created by a Russian-Canadian programmer, Vitalik Buterin, an English computer scientist, Gavin Wood, in 2014. The Ether operates smart contracts on its blockchain. Unlike Bitcoin, Ether’s value originates from its smart contracts in decentralized applications. Most decentralized finance projects link to Ethereum. Ether’s supply is infinite, but Ethereum’s community members can determine.
Stellar represents an open-source blockchain with its native currency, Lumen. A cryptocurrency evangelist, Jed McCaleb, previously co-founder of Ripple Labs and the infamous Mt. Gox Exchange, founded the network in 2014.
Stellar aims to allow inexpensive transactions in markets that lack development. The blockchain avoided a standard mining network, but instead, it relies on a federated byzantine agreement algorithm.
Binance coin is Changpeng Zhao’s brainchild. Zhao is the Founder and CEO of Binance, a preeminent global exchange for buying and selling cryptocurrency. The aim of creating a BNB token was to facilitate transactions on the Binance network. Moreover, it would allow users to pay trading fees and access additional products and services, like Binance’s decentralized exchange.
BNB users enjoy lower fees on Binance. BNB’s fame has grown Since its establishment, attracting speculators and day traders beyond its utility on the Binance exchange.
The Cardano Foundation is a Switzerland based non-profit group that conducts the development of the project. A computer scientist and co-founder of Ethereum, Charles Hoskinson, founded Cardano in 2015. Later, he left the project as a result of disagreements with its other founders.
Furthermore, the group carried out inclusive research and experimentation on blockchain technology.