It’s been more than a decade since Bitcoin was created. From there on, it has dominated the cryptocurrency world. Albeit the fame it has, Bitcoin is not the only option. There are tons of cryptocurrency innovators, imitators as well as spinoffs that are trying to get a piece of the market as well. As a matter of fact, there are over 7000 types of cryptocurrencies you can find in the market.
With extremely broad varieties of cryptocurrency, it is kind of difficult for investors to make a decision on which one to buy. Let us help you to get a better idea of some of the top cryptocurrencies to try on.
Cryptocurrencies similar to Bitcoin is predicated via blockchain technology. This is storing information about all crypto transactions in blocks of data that contains 1MB of data. As currency grew in popularity, these blocks of data are filled up and slow down Bitcoin transactions. This eventually increases the transaction fees.
There are Bitcoin developers who proposed a solution that will reduce the amount of data required effectively but others believed that this is going to compromise the cryptocurrency’s integrity. Thus, they made their own Bitcoin version in 2017 called as Bitcoin Cash. Bitcoin Cash has 8MB blocks of data that allows faster and lower transaction fees. While it is new and less popular, the scalability potential it has means it creates more room for growth.
Among the ideals behind cryptocurrency is decentralizing currency. Ethereum has taken this a step further. This is because instead of decentralizing money, its main goal is focused on decentralizing the internet. They are planning to do this by replacing the servers with global system of nodes that will eventually create one computer for the planet.
Ethereum is actually a software platform that’s based off blockchain technology where users can easily exchange their crypto referred to as ether. It became one of the sought after cryptocurrencies with a market cap of almost 140 billion dollars.
These two cryptocurrencies are the leading coins that you can get in the market. The best part about it is that, their trajectory is going up. Still, doing research is essential like from the best time to buy and sell your cryptocurrency by understanding what is 2100 military time?