There are more than 1000 cryptocurrencies in the market today, but, unfortunately, all do not have the potential to alter the fate of the financial system, as they are not as serious as these top 5 cryptocurrencies of the market supported by their significant market cap estimation! The market cap has always been one of the significant parameters in the financial market to measure the reliability of the underlying asset and therefore, no wonder, the same trend is getting applicable to the cryptocurrencies!
So, shall we start discovering them one by one?
For many, the term cryptocurrency means only the Bitcoins as the game started only from there! It is the cryptocurrency that disclosed the powers of the Blockchain technology and its amazing benefits to the world! Bitcoin is simply, a decentralized peer-to-peer electronic payment system that can not only ensure faster payments but also secured and cost-efficient payments, all the time and therefore, the people’s favorite!
Ethereum is not a payment currency like the Bitcoins but an open-source platform that uses the feature called ‘smart contracts’, in where the facilitation, verification, and even the execution of the deeds of the contract are handled by the smart network efficiently thus, enabling the business world greatly!
This bank’s favorite technology ensures that your payment transactions are faster like never before, no matter, wherever might be the source and destination of such transactions. Not only that, this near-instantaneous transaction could cost you next-to-nothing and that is why many bigwigs like American Express, Western Union have extended their welcoming hand to the network!
- Bitcoin Cash
The popularity has its own set of challenges and that is what happened in the case of the Bitcoins! Attracted to the popularity of the Bitcoin when number of people started pursuing the network, it started affecting the processing of the network, which resulted in the decline in its speed and, at the same time, considerable higher transaction fee! To overcome these problems the Bitcoin has to undergo the “hard fork” in 2017, where, the Bitcoin Cash was born to accommodate larger transactions by improving the block size! This also resulted in faster processing speed and lower transaction costs, which instantly made the cryptocurrency a hit among the population!
This relatively newer cryptocurrency is similar to Ethereum in operation only that it aims to do much better! Yes, EOS is a platform for decentralized applications, in where the processing speed is aimed at 50,000 transactions per second, impressively!
Now that you know the top 5 cryptocurrencies by market cap, also know how to invest in them by using this uncomplicated means aka the automated trading robot!