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The cryptocurrency sector is growing at breakneck speed. Day in and day out, hundreds of projects and foundations born and died out there.
Whether you are a novice or a long-time player, there will come a time when you feel overwhelmed every time you open the list of coins and see a new name.
What is that copper used for? Why is it worth? On which exchange has it been traded?
This article summarizes the functions of the top 50 market cap coins by capitalization – last updated 2021.
Let’s get started!
1. Bitcoin (BTC)
According to Satoshi Nakamoto, Bitcoin was created to help “online payments are sent directly from one party to another without going through a financial intermediary”.
Today, although BTC gradually becomes an investment asset rather than a means of payment, Satoshi’s vision is still the “guideline” of the entire crypto market.
2. Ethereum (ETH)
Ethereum is the “destiny” child of the market, acting as the infrastructure for most decentralized applications (DApps) today. Ethereum was born, bringing the concept of smart contracts to cryptocurrencies.
Today, later projects always take Ethereum as the target of conquest. Many projects consider themselves “Ethereum killer”, but none of them have actually beaten Vitalik Buterin’s coin.
3. Tether (USDT)
Tether is a stablecoin pegged to the USD. Tether held the “throne” of stablecoins for many years, despite being involved in the controversy with Bitfinex.
Polkadot is an open source protocol that connects all different blockchains, allows them to work together and transfer any data.
Polkadot’s force is growing stronger, adding a “big hand” to DOT’s back with the participation of Huobi Global, The Graph. Not only that, DOT is really the hottest in China right now.
When learning about DOT, you should not ignore the article about Parachain is what? What is Polkadot’s Parachain? and Comparing Polkadot (DOT) and Kusama (KSM) – “Sisters” of the crypto world?
5. Cardano (ADA)
Cardano strives to improve the scalability, interoperability, and sustainability of crypto projects. Unlike Bitcoin’s algorithm, ADA holders have the right to vote on any network change.
XRP is a centralized currency with its parent company Ripple being sued by the SEC for selling illegal securities.
BNB is the foundation coin of the Binance exchange. BNB’s value is tied to utility and usefulness in the Binance ecosystem – one of the most popular exchanges today.
Along with that, the launch of Binance Smart Chain also increases the usability of BNB.
8. Litecoin (LTC)
Litecoin is Brothers rowing rowing with Bitcoin, there are faster transactions and lower fees.
9. Chainlink (LINK)
The main purpose of the project is to link smart contracts with real-world data, and assist in verifying whether this data is correct or not.
Learn ChainLink here: What is ChainLink? All information about Chainlink (information, places to buy and sell, objective reviews)
10. Dogecoin (DOGE)
Dogecoin has long been known as the cheerful meme-coin of the crypto community. After becoming Elon Musk’s favorite coin, DOGE gradually became everyone’s favorite coin. Here, DOGE prices fly high in the middle of a market storm thanks to positive tweets from the richest man on the planet.
Want chill with DOGE? Find out here: What is Dogecoin? From harmless DOGE to every investor’s dream
11. Bitcoin Cash (BCH)
Bitcoin Cash is Bitcoin’s hard fork, trying to reduce transaction fees and increase scalability.
Good ideal but cruel reality, the purpose that BCH is aiming for has been achieved and far surpassed by more modern technology coins.
12. Stellar (XLM)
XLM is one of the coins with fast processing times and low fees.
13. USD Coin (USDC)
USDC is a stablecoin pegged to the USD. Therefore, USDC is seen as a direct competitor to USDT.
Choose a bank and decentralize it. Then, the bank becomes a middleman to receive liquidity from users and pay them fees from loans. That is the Aave Protocol (AAVE).
15. Uniswap (UNI)
Uniswap is one of the top decentralized exchanges (DEXs) on the market today.
16. Wrapped Bitcoin (WBTC)
Wrapped Bitcoin (WBTC) serves as an alternative to Bitcoin, running on the Ethereum network for use in DeFi applications.
17. Bitcoin SV (BSV)
Bitcoin SV is grandchildren of Bitcoin. Bitcoin SV hard forked from Bitcoin Cash (BCH hard forked again from BTC).
The reason behind this breakup was to “stay true to Satoshi’s vision”, trying to improve scalability and stability.
18. EOS (EOS)
EOS wants to build a highly scalable blockchain for commercial use.
19. Elrond (EGLD)
Elrond focuses on scalability with high throughput. The project achieves this by partitioning the state of the chain and through an improved Proof of Stake algorithm.
20. TRON (TRX)
TRON is brothers from different parents with Ethereum. TRON founder Justin Sun is a true PR talent, helping TRX get great attention from the community.
21. Cosmos (ATOM)
Cosmos is an independent blockchain with the goal of creating a “network of interconnecting blockchains”.
22. NEM (VIEW)
Instead of just controlling money, you can control ownership of stocks, contracts, medical records, and so on.
23. Monero (XMR)
Monero’s goal is simple: to make transactions anonymously. Although people often think that BTC can hide users’ identities, in reality, it is very easy to trace transactions because of the transparency of the blockchain.
In contrast, XMR is designed to conceal the information of the receiver and the sender. Good intentions are, but Monero is also a coin used heavily on the dark web.
Theta is a decentralized video distribution network (peer to peer video streaming). THETA tokens are used to perform various governance tasks in the network.
25. Tezos (XTZ)
Another blockchain for smart contracts, but more environmentally friendly and looking to pool other blockchains’ technologies into a single protocol.
26. Terra (LUNA)
Terra supports the global payment network, creating a decentralized stablecoin with an elastic money supply. Supply is enabled by stable mining incentives. Terra’s stablecoin is TerraUSD.
27. Maker (MKR)
MakerDAO is the organization behind TOUGHOne of the most famous stablecoins on the market today. MKR is a governance token that helps users to receive dividends and vote in the management of MakerDAO’s system.
28. Synthetix (SNX)
Synthetix is a protocol on the Ethereum blockchain that supports derivative product trading.
29. Avalanche (AVAX)
Avalanche is an open source platform that aims to be a global asset exchange where anyone can launch any type of asset and control it in a decentralized way using smart contracts.
Avalanche aims to be a low capacity, high throughput, and scalable platform.
30. VeChain (VET)
VeChain is a blockchain that focuses on business use cases rather than technology, bringing blockchain technology to the public – when they don’t even know they’re using it.
31. Compound (COMP)
Compound is the Bitcoin of the DeFi world. COMP is a pioneer in the field and without this peer-to-peer loan project many more would not be available today.
32. IOTA (MIOTA)
Open source decentralized project designed for the Internet of Things, with zero transaction fees and high scalability. Because IOTA uses blockchain-not-block, with users and transaction verifiers are the same.
Blockchain application platform to verify identity and digital assets, to create a smart economy. This is one of the hardest hit coins in crypto winter.
34. Solana (SOL)
Solana is a blockchain that provides super-fast transactions. The project claims to be able to handle 50,000 TPS (transactions per second) and is perfect for deploying scalable applications.
DAI is MakerDAO’s decentralized stablecoin, pegged to the USD.
36. Huobi Token (HT)
As the official token of the Huobi exchange, there are facilities similar to BNB (of the Binance exchange), such as transaction fee discounts.
37. SushiSwap (SUSHI)
SushiSwap is a fork of UniSwap, with the SUSHI token used to reward liquidity providers.
38. Binance USD (BUSD)
The USD pegged stablecoin is issued by Binance.
39. FTX Token (FTT)
FTX Token is a token of FTX – leveraged exchanges and derivatives. FTT is an ERC20 token, allowing to reduce transaction fees and receive socialized profits.
Learn about FTX floors here: What is FTX floor? Detailed information and instructions on how to register, KYC and trade on FTX.
40. Crypto.com Coin (CRO)
CRO is the token of the public blockchain Crypto.com, which enables worldwide transactions between people and businesses.
41. Filecoin (FIL)
Filecoin is a decentralized, decentralized storage system between cloud storage services.
UMA builds an open-source infrastructure to create synthetic tokens on the Ethereum blockchain.
43. UNUS SED LEO (LEO)
Bitfinex token, helps you reduce fees when trading on Bitfinex.
44. BitTorrent (BTT)
BitTorrent is a popular peer-to-peer file sharing platform. BitTorrent tries to become more decentralized by launching the BTT token, giving users a number of benefits such as increased download speed.
45. Celsius (CEL)
Celsius was one of the first banking platforms for crypto users where you can earn interest, borrow cash, and make payments / transfers. CEL token offers benefits such as increased payment limit.
46. Algorand (ALGO)
Algorand is a blockchain network that improves scalability and security. ALGO is used for the economy without borders and to ensure stability in the blockchain.
47. Dash (DASH)
DASH was a fork of Litecoin in 2014 that focused on improving the transaction times of the blockchain and becoming a decentralized, low-cost payment network.
48. Decred (DCR)
The project aims to facilitate open governance and community interaction. Decred achieves this by avoiding monopoly voting, giving all decision-making power to DCR holders.
49. The Graph (GRT)
Aimed at being the Google of the decentralized world, The Graph is an indexing protocol for querying data from networks like Ethereum. The Graph allows anyone to publish an open API that an application can use to query blockchain data.
50. yearn.finance (YFI)
As one of the most prominent projects of the DeFi ecosystem, yearn.finance is a composite tool that tries to simplify DeFi for investors, automating the process of maximizing returns from yield farming.
For comparison, you can review the top 50 cryptocurrencies of 2018.
In addition, if you are new to the market, do not miss 2 important Dictionary and Terminology articles to know.
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