Although bitcoin and ethereum tend to dominate the headlines when it comes to investing in cryptocurrencies, there are around 1,500 crypto-assets in circulation, with more added all the time
Each cryptocurrency has a slightly different make-up and function from the people’s favourite and bitcoin is the number one cryptocurrency in the world
Here are some of the most popular cryptocurrencies in circulation today
The original and most widely used. There are currently more than 16.8 million bitcoin tokens in circulation, against a present capped limit of 21 million.
Bitcoin’s market capitalisation varies significantly from day to day but has hit a record high of more than $200bn.
It remains the poster-child for the cryptocurrency industry, though critics suggest that its volatility, slow speeds, energy usage and higher transaction fees will put a limit on its growth.
2 BITCOIN CASH
This offshoot of the original Bitcoin, which launched in the summer of 2017, has already soared to become one of the most traded cryptocurrencies.
A little like a share split, there is now approximately the same amount of bitcoin cash in circulation as bitcoin. Nevertheless, there are key differences – most notably, bitcoin cash has an 8MB block size compared with 1MB for the original bitcoin.
This means faster processing speeds, but on the downside it is more memory-intensive.
Known as “bitcoin’s little brother”, litecoin resembles its older sibling in that it is a peer-to-peer cryptocurrency, but has faster transaction speeds as well as a substantially higher token limit of 84 million.
However, its mining process is more memory-intensive and its market cap is around 1/20th of the size of bitcoin.
This is a cryptocurrency largely recognisable for its image of a Shiba Inu dog derived from the “Doge” internet meme.
Initially introduced as a parody currency, it now has its own online community. At the start of 2018, Dogecoin saw its market capitalisation reach $2bn.
Ethereum has been labelled a “decentralised app” provider. Originally developed as a “world computer” super network, it aimed to get rid of the need for third-party companies such as Apple in the creation of apps.
The apps developed on Ethereum are on a distributed public platform where miners can earn “ether” to fuel the network.
There are still other widely known coins that i never mentioned here,but bitcoin is just it all in the world widely known and used globally.
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