Discovering the Top 10 Cryptocurrencies Beyond Bitcoin
The crypto space is a Wild West. Traders are prone to scams and fortunes can be made and lost in seconds.
Fortunately, there are several crypto coins that have been gaining popularity for their fast transaction speeds and low costs. These cryptocurrencies could be worth considering for your future portfolio.
1. Cardano (ADA)
Cardano (ADA) is one of the most innovative cryptocurrencies out there. This is due to its dual-layer core architecture, which increases efficiency and allows the network to process up to a million transactions per second.
Its Proof of Stake consensus mechanism is also eco-friendly, unlike Bitcoin and other cryptocurrencies. It also offers a more scalable blockchain than other cryptos.
2. Ethereum (ETH)
If you’re looking for a crypto that is more than just a store of value, you should look no further than Ethereum (ETH). This platform is home to digital money and new kinds of applications.
It allows users to build decentralized applications (DApps) that avoid intermediaries such as lawyers and banks. Instead, they use smart contracts to create a secure, transparent and censorship-resistant system.
3. Ripple (XRP)
Ripple (XRP) is a cryptocurrency that offers many benefits over other digital assets. These include low fees and incredibly fast settlement.
XRP transactions are processed instantly, which can be a game changer for cross-border transfers. Moreover, XRP is 61,000x more energy-efficient than proof-of-work blockchains, making it an attractive option for institutions.
Despite the controversy surrounding Ripple, it has the potential to be a huge hit in the future. If it overcomes its SEC lawsuit, Ripple could become the new standard for cross-border payments.
4. Litecoin (LTC)
One of the original cryptocurrencies to fork off from Bitcoin, Litecoin is known as the “silver to Bitcoin’s gold.”
The cryptocurrency is faster and cheaper than its parent, and offers a range of benefits. It is also one of the most popular cryptocurrencies in use today.
LTC is a blockchain-based peer-to-peer network that allows for instant, near-zero transaction fees. In addition, it has been accepted by numerous stores and brands.
5. Dash (DASH)
DASH (Dash) is a decentralized network that enables secure transactions. Its two-tier network includes miners and Masternodes, both of which operate under a proof-of-work consensus protocol.
Miners secure the blockchain by solving complex cryptographic problems and ensuring that no double spending occurs. In return, they receive 45% of the rewards generated by each block. They are also rewarded for their roles as Masternodes, which provide essential services such as InstantSend and PrivateSend.
6. Monero (XMR)
Monero (XMR) is one of the most popular cryptocurrencies focusing on privacy and security. Unlike most cryptocurrencies, XMR coins are completely anonymous and cannot be traced back to their users.
Monero’s key technologies to maintain this level of privacy include Ring Confidential Transactions and Stealth Addresses. These features hide transaction amounts and create one-time payment addresses for each transaction, ensuring that payments cannot be linked to wallets or recipients.
7. IOTA (MIOTA)
If you’re looking for a cryptocurrency that’s a great fit for your portfolio, consider IOTA (MIOTA). This innovative smart contract platform has redesigned distributed ledger technology and its Tangle protocol.
Its design eliminates transaction fees and scalability issues of blockchain technologies. It also offers new security features that are more future-proof.
8. Tether (USDT)
Tether (USDT) is a stablecoin pegged to the US dollar, which helps minimize volatility. This protects investors from sudden price swings and makes it easy to send money globally without having to convert to a fiat currency.
USDT is backed by actual dollars, bonds and other assets that are kept in reserve at financial institutions to serve as collateral. However, there have been controversies regarding the company’s reserves.
9. Polkadot (POC)
Polkadot is a blockchain platform that aims to solve many of the problems that blockchains face, including scalability and security. Its multi-chain framework allows users to transfer data across a variety of networks, bringing about a new era of interoperability.
Polkadot’s architecture features a core network, called the relay chain, and parallel blockchains called parachains that connect to it. The relay chain secures and coordinates all the parachains on the network.
10. Dogecoin (DOGE)
. It’s a fun alternative to Bitcoin and has gained a lot of traction with companies that accept it as payment.
The coin is based on blockchain technology and has a proof-of-work consensus mechanism that allows transactions to be verified by miners. In return, miners receive Dogecoin as a reward.