Over the past few years there has been a lot of talk about Bitcoin, but more recently there has also been talk about a range of other cryptocurrencies like Monero or Ethereum. In fact, there are over 300 registered cryptocurrencies currently in existence! In this blog we will talk about some of the most important.
What is a cryptocurrency?
A cryptocurrency is a digital currency that replaces conventional money in the network in some way. In this case, the most well-known example is Bitcoin. Currently, 1 Bitcoin equals around $ 10 million dollars. That would mean that a person with 10 Bitcoins would be holding around $ 100,000 US dollars, which is likely to be a great deal more than what they bought it for, thanks to Bitcoins rising price.
This is due to the market, the supply and the demand. As well as Bitcoin, there are other cryptocurrencies that are gaining popularity in the area of cryptoeconomics. Some key examples of these are Ethereum, Ripple, Lisk and, the most popular in the Deep Web, the Monero cryptocurrency.
A cryptocurrency allows you to pay for things, make transactions and perform financial and economic activities online. You are also able to store your digital currency online. They have the potential replace conventional money with transaction that are irreversible. Despite the existence of other cryptocurrencies, Bitcoin is so far, the digital currency that manages to capture the attention of investors, entrepreneurs and businessmen, as well as economists.
What other cryptocurrencies exist besides Bitcoin?
There are hundreds of current cryptocurrencies. Most of them were unknown until now because they were only used in the Deep Web or exclusive sites where these currencies were and are accepted for financial and economic transactions.
Ethereum is currently the second most popular digital currency for people interested in cryptoeconomics. Its market value is almost $ 1 thousand US dollars for Ethereum. Then there is also Ripple which, although its value is similar to the Euro, is the cryptocurrency that has more shares in circulation.
Although these are the top three in the market, it is also important to mention other cryptocurrencies that are also very popular, such as Litecoin, Cardano, NEO, Stellar, EOS, IOTA, Dash, NEM and Monero. The latter is best known for its success in the Deep Web. Currently, a Monero unit equals $ 300 US dollars.
Additionaly, Lisk, TRON, VeChain, Qtum, Tether, ICON, OmiseGO, ZCash, Nano, Steem, Populous, Bytecoin, Verge, Stratis, Siacoin, RChain, Status, Dogecoin and Waves complement the list of the first 30 most popular cryptocurrencies currently in force.
This list is based on both the commercial popularity of the cryptocurrency, as well as the number of shareholders it has, its market value and its impact on international decision-making. They each have an important role to play in the future of finance. Recently the American Senate met to discuss current issues, such as cryptoeconomics, which is a huge marker to show popular they are becoming.
To finish the list of current cryptocurrencies, we can’t leave out those that, despite their low popularity, are used for various online transactions. Some include Maker, Decred, Augur, Komodo, Hshare, Revain, Ark, MonaCoin, Bytom, Syscoin and Dentacoin, among hundreds more.
More digital coins have begun to emerge in an effort to become as popuar as the revered Bitcoin. However, few have achieved what Bitcoin achieved. That is why we will keep an eye on these other cryptocurrencies that are already giving us something to talk about.