The craze is higher than ever; the number of people buying cryptocurrencies is multiplying day-by-day, and built during the wake of its species, Bitcoin is reigning as the number one, as the numbers suggest.
But have you ever thought of investing in some other cryptocurrencies? If you have not, you should, as the other cryptocurrencies are also on the rise, and their market caps are increasing every day.
Bitcoin has the highest rank because of the price, but many other cryptocurrencies are also not falling behind. Ether, Cardano, Tether are some of the well-known names in the world of cryptocurrencies.
In this article, I will discuss five such cryptocurrencies with great potential to excel in the future for their unique traits and mind-blowing prices.
5 Most Important Cryptocurrencies
You can buy bitcoin if you want, but you can also consider these five cryptocurrencies because they hold significant value in the market.
- Ethereum
- Litecoin.
- Cardano.
- Tether.
- Polkadot
Ethereum
Ethereum is the second most famous name when it comes to cryptocurrency talks. Many even consider Ethereum as the replacement or alternative of bitcoin.
The unique feature of Ethereum is that this decentralized software platform allows smart contracts and dApps or decentralized applications. There is no room for fraudulent, control, or third-party interference in Ethereum.
Ethereum incorporates the use of Ethers/ ETH, cryptographic tokens usable only in the Ethereum platform. Developers are interested in using ETH because they intend to develop and run applications within the Ethereum platform.
But now, Ethereum has become more of an investment platform with investors trying to purchase other cryptocurrencies using Ether. Ethereum has a market cap of $425.46B.
Litecoin
Charlie Lee is a former Google Engineer and an MIT graduate who created Litecoin and launched it in 2011. Litecoin is fully decentralized. It is based on an open-source payment network-accessible worldwide and has no interference from any controlling authority.
Litecoin uses Scrypt as proof of work. The Scrypt is decodable using consumer-grade CPUs. Litecoin has many similarities with bitcoin, which is part of the reason why many call it “silver to Bitcoin’s gold.”
But there are differences with bitcoin that make Litecoin unique in that it has a much faster block generation rate. In addition, Bitcoin offers a quicker transaction and confirmation rate time. The market cap of Litecoin in September 2021 is around $12 B. Litecoin has surged 100 percent since the beginning of 2021.
Cardano
Charles Hoskinson, one of the early founders of Ethereum, created Cardano with some mathematicians and cryptography experts. The currency of Cardano is named ADA after a British mathematician and writer Ada Lovelace.
An interesting fact regarding the creation of Cardano is that the project was very research-intensive, and the founding team members have written almost hundreds of papers on Cardano’s blockchain technology.
Cardano uses proof-of-stake to become a decentralized financial system. Cardano aims to provide solutions for voter fraud, chain interoperability, etc., like Ethereum. Cardano has a market cap of $70B as of September 2021.
Polkadot
The prominent feature of Polkadot is that it intends to provide blockchain interoperability. Polkadot uses proof-of-stake. Polkadot’s protocol aims to connect to permitted and permissionless blockchains and oracles; this will potentially help systems work under the same roof.
Polkadot allows the creation of its own blockchains by the users. The users will be able to use the securities of Polkadot on their blockchain.
The co-founder of Ethereum, Gavin Wood, created Polkadot. The market cap of Polkadot is $35 billion in 2021 September, and the value of one DOT is $35.25.
Bitcoin cash
Bitcoin cash was created in 2017 august from a fork of the parent cryptocurrency, Bitcoin. The mentionable trait of bitcoin is that it increased the size of its blocks, allowing it to process more transactions and improve scalability.
Based on the idea that a bigger blockchain can hold more transactions, bitcoin cash increased the size of its blocks from one MB to eight MBs. As a result, the value of Bitcoin cash is $640 per token. The market cap of Bitcoin cash is $12 billion in 2021 September.
Conclusion
New cryptocurrencies are coming out in the market, and each of them has new functions and newer ways of operating within the blockchain.
As costly as bitcoin may be, it is not the only valuable cryptocurrency out there. There are many cryptocurrencies to explore and possibly invest in.
Bitcoin arbitrage gives an advantage in the bitcoin trade; there is also crypto arbitrage VIP for doubling the bitcoins. However, even with tools like these, cryptocurrency traders are shifting towards many other cryptocurrencies.
The other options of cryptocurrencies will help those who want to invest in different cryptocurrencies. This article also intends to be of use to those who are only seeking information about other cryptocurrencies.
