10 Most Important Cryptocurrencies – $BTC climbing above $6.5K trying to hold a 6.7% gain.

bitcoin, Commentary, Forex

The most popular cryptocurrencies based on volume traded.  These represent the most important currencies and  crypto-technologies in 2018

BTC$ 6,481.90 $ -27.97 (-0.43%) 5,634.01 € 30.12 (0.54%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

ETH$ 203.68 $ -1.09 (-0.53%) 177.25 € 1.07 (0.61%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

USDT$ 0.9756 $ -0.0019 (-0.19%) 0.8589 € 0.0049 (0.58%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

XRP$ 0.4565 $ -0.0048 (-1.04%) 0.3928 € -0.00020 (-0.05%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

EOS$ 5.45 $ -0.060 (-1.09%) 4.70 € -0.050 (-1.05%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

XLM$ 0.2436 $ -0.0016 (-0.65%) 0.2110 € 0.0011 (0.52%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

BCH$ 449.86 $ -1.21 (-0.27%) 386.75 € 1.03 (0.27%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

ADA$ 0.07554 $ -0.00034 (-0.45%) 0.06580 € 0.00033 (0.50%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

QTUM$ 4.35 $ 0.090 (2.11%) 3.75 € 0.10 (2.74%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

LTC$ 52.18 $ -0.58 (-1.10%) 45.25 € -0.32 (-0.70%)
Quotes delayed up to 2 minutes and provided by CryptoCompare.com

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Bitcoin

Bitcoin was the first decentralized digital currency.   Developed by an unknown source who goes by the name of Satoshi Nakamoto.  It was released as open-source software in 2009.   It is the oldest founding member of cryptocurrency and remains almost 33% of the trading volume.  As a transactional coin, the blockchain updating takes a long time making it difficult to use as a fast transactional currency as an exchange can take several minutes.

Ethereum

Ethereum was launched in 2015 from a crowdsource kick-off.  About 12 million pre-mined coins were used to seed the currency.  In 2016 Ethereum was split into two separate blockchains, the new version retained the name and is traded under the symbol (ETH), the original continues as Ethereum Classic (ETC).  Starting off 2018, there were 98Million ETH coins.  In 2017, miners generated 9.2M more ether, that was a 10% increase.  There is a proposal to change the format of mining with a goal to reduce inflation between 0.5% and 2%.

Tether

Tether is an unregulated coin that is tethered to the US Dollar.  Each Tether coin is back by one United States Dollar according to Tether Limited.  It is used as a transactional coin, a way of trading slower transactional coins, that can swing quickly, into a more stable coin.  In November 2017, about $31M was stolen from Tether Ltd.  It was shut down at that time.  As of December 2017, it has re-tooled and accepting transaction again.

Ripple

Like Tether, Ripple is a transactional protocol rather than a crypto coin.   The protocol has a built-in currency called XRP (ripples).  Release in 2012, Ripple fills the void of a stable transaction protocol to foster the exchange of crypto coins.  Its primary focus is for financial institutes such as banks to perform quick safe transactions.

EOS

EOS.io aims to own the decentralized smart contract system.  Scheduled for release on June 1st, 2018 the smart contract will use tokens (EOS) representing both bandwidth and blockchain storage.  These coins are currently traded on the Ethereum network.

Stellar

Stellar a newtork of open-sourced servers and form a global ledger.  When a transcation is needed a proposal is sent amongst the systems to determine the validity of the transaction.   A consensus is reach and thre tranasction is performed on the global ledger.   The servers are continuously syncing, typically every 2 to 4 seconds. This keeps each server’s copy of the ledger in sync and identical.

There is a heavy empahsis on non-profits and microfinancing in the stellar eco-sphere.

Bitcoin Cash

Bitcoin cash is a fork of Bitcoin. This fork done on August 1, 2017 extended the blockchain max size to 8 megabytes.  This allows for quicker transactions.

Cardano

Cardano considers themselves a 3rd generation cryptocoin.  Cardano is pitched as the third generation cryptocurrency with a goal of  solving the three biggest issues with current coins – sustainability, scalability and interoperability. The biggest advantage of Cardano is that unlike Bitcoin, it’s built with two layers.  The currency of Cardano is ADA.

Qtum

EOSQtum is a Chinese blockchain company whose protocol shares Ethereum’s ability to execute smart contracts, but is “built upon Bitcoin’s well-established UTXO transaction model and employs a proof-of-stake consensus mechanism that is more practical for business adoption.” The goal is to develop a lightweight protocol and blockchain that is compatable with the more developed blockchains.

LiteCoin

Litecoin was released on October 7, 2011 by Charlie Lee, a former Google employee.  The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin, differing primarily by having a decreased block generation time (2.5 minutes). Litecoin reached a $1 billion market capitalization in November 2013 and by the end of 2017 had grown to over $20B.

 

 

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