How much do you know about the currency circle? 10 Cryptocurrencies You Must Know
If you pick the “commodity” that has been the most traded in the market and has the highest growth rate in the past year, then cryptocurrency (Cryptocurrency) sits at the top of the list. Even if you have never participated in trading, you must have heard the name "Bitcoin". The price of Bitcoin has been on a roller coaster over the past year. 300% increase.
However, there are not only Bitcoins but thousands of cryptocurrencies in circulation in the market. The following is a selection of 10 types of cryptocurrencies based on the market value, trading volume, and discussion published by information websites and exchanges such as CoinMarketCap and Binance. Currency, lead investors who have just invested in or want to know this market, and have a better understanding of the currency circle:
TOP 5 cryptocurrencies with the highest market capitalization
Referring to the ranking on the CoinMarketCap website, the current top 5 currencies by market capitalization are Bitcoin, Ethereum, USDT, Binance Coin, and ADA.
Bitcoin (BTC):
This cryptocurrency, whose founder "Satoshi Nakamoto" is still unidentified, published a white paper in 2008 and started trading in 2009. It was the world's first cryptocurrency and was issued to issue Bitcoin. , and launched the blockchain (Blockchain) as the underlying technology. Bitcoin not only has the longest history but is also the cryptocurrency with the largest market value. At present, many transactions can use Bitcoin, and it has obtained legal status in some countries.
Ether (ETH):
Ether (Ether) is the second-largest cryptocurrency by CoinMarketCap's statistical market value. In 2013, an engineer Vitalik. Buterin (Vitalik Buterin), founded the public blockchain platform "Ethereum" (Ethereum), provides smart contracts (Smart Contract), decentralized applications (Dapps), etc., and the main function of Ethereum is to pay for this The various services of the platform are therefore different from Bitcoin and can be widely used in various fields.
Tether（USDT）：
Although Bitcoin is currently the cryptocurrency with the highest market capitalization, this controversial “USD stable coin (Stablecoins)” is the hottest currency in the market recently.
Its issuer Tether initially stated that "every 1 USDT has a reserve of $1", but the reserve fell to 74%, and even the same group's exchange misappropriated some of the funds. In exchange for 1 US dollar, it is still an attractive
commodity for those who have foreign exchange needs. Even Bloomberg analysts have predicted in 2020 that the market value of USDT will surpass that of Ethereum.
Binance Coin (BNB):
Binance Coin is a currency launched by the well-known cryptocurrency exchange "Binance" in 2017. It is similar to Ethereum and is mainly used to pay the exchange's fees, but not only that, but Binance Coin also Expands its scope, including tourism, entertainment, finance, and other scenarios that can be used. In addition, Binance Coin regularly "destroys" some currencies to maintain supply, which usually leads to a wave of gains.
Cardano（ADA）：
The cryptocurrency launched by Cardano, a blockchain service, is ADA. The financial knowledge website Investopedia mentioned that they consider themselves to be the "third-generation" cryptocurrency, and they want
to solve the problem of the first generation (represented by Bitcoin) and the second generation ( The issue of cryptocurrencies, represented by ether.
The solutions they have come up with include faster transaction speed, connecting the main chain between blocks, and bringing the existing decentralized blockchain technology into the real business and government system, and ADA uses these services and technologies. fee. While these visions have made ADA more and more valuable, Cardano has not yet achieved all of its functions, and its future development must be watched.
Top 5 cryptocurrencies that continue to raise topics
The editorial department of the manager also selected 5 cryptocurrencies that have high Internet volume and continue to create topics:
Dogecoin (Doge):
Tesla (Tesla) founder Elon. Every time Elon Musk speaks on the community, he can drive the market closer to a certain direction, and “Dogecoin” has been “chosen” by him many times. This cryptocurrency, which has the appearance of a Shiba Inu meme, was originally just a joke by the founder, but eventually derived from Litecoin and became a real cryptocurrency.
Figure / dogecoin
Figure / dogecoin
This also makes Dogecoin different from the above-mentioned cryptocurrencies. Its purpose is not for investment. Most of them are used as rewards on the American community Reddit. Later, they are often used for charitable activities, such as the Jamaican sled team. In 2014, because he had no funds to participate in the Winter Olympics, he initiated fundraising on the Dogecoin community and successfully raised the equivalent of 50,000 US dollars (about NT$1.4 million).
Ripple (XRP):
Ripple is now facing a bigger crisis than USDT. Ripple came out in 2012, focusing on the financial industry and transactions between major fiat currencies. Therefore, Ripple has designed a set of different transaction verification methods. Its official website shows that a transaction can be processed every 4 seconds, which is less than the cost of 2 minutes of ether, or even 60 minutes of bitcoin is much faster.
However, the U.S. Securities and Exchange Commission (SEC) recently launched a lawsuit against Ripple, arguing that they are unregistered securities and suspected of illegal fundraising, which led to the delisting of Ripple on many exchanges. The case has not yet been finalized.
Litecoin (LTC):
Litecoin, born in 2011, is based on Bitcoin and is therefore not managed by any platform or central authority. The initial expectation was to develop a cryptocurrency more suitable for daily use, which is reflected in the speed of Litecoin confirming transactions, which is 4 times faster than Bitcoin, making it easy for anyone to use Litecoin.
Bitcoin Cash：
Due to the limited capacity of Bitcoin transaction data, when the transaction volume increases, delays and increased handling fees are prone to occur. In 2017, some members of the Bitcoin community inherited the original blockchain records and launched this transaction data capacity increase. big cryptocurrency.
However, it should be noted that the technology behind Bitcoin Cash is different from that of Bitcoin. It cannot be equated with Bitcoin, and its circulation is not as good as the latter. Don’t buy the wrong currency just because the name is similar.
Diem (formerly Libra):
圖／shutterstock
圖／shutterstock
Even the community leader Facebook announced the launch of the cryptocurrency Libra in 2019, changed its name to Diem at the end of 2020 and entered the testing phase this year. Facebook originally expected that through Diem, people who were unwilling to serve by traditional banks could also enjoy financial services, and like USDT, there would be legal currency reserves behind it.
But Diem's journey was not smooth. First of all, its founding partners Paypal, Mastercard, and other members left the project one after another. In addition, Facebook has more than 2 billion users. In the past, there have been many problems in privacy and management. The supervision units are not favorable. The foreign media "Decrypt" mentioned that although the number of test transactions has reached 50 million, the number of transactions per second is only 3, which is lower than Bitcoin's 4.6 transactions and Ethereum's 15 transactions. , we can continue to observe whether it can be launched as scheduled this year.
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