Top Six embryonic cryptocurrencies with the highest market cap!

Top Six embryonic cryptocurrencies with the highest market cap!

 

Years ago, no one had the right idea about cryptocurrencies or Bitcoin. However,  it is now one of the most discussed and studied words in the world. Cryptocurrencies are filled with several different cryptocurrencies. This includes Bitcoin, Dogecoin, Ethereum, Tether, and more. It is difficult to judge which will have the promised ROI or value, which makes starting the crypto-verse difficult.

 

To help you out, here are the top 6 cryptocurrencies in the crypto market by market capitalization, which is the sum of the value of all coins currently in circulation. 

 

  • Bitcoin BTC

Market capitalization : $960,196,206,193

 

Bitcoin is a virtual currency similar to that of traditional currency but differs as a decentralized cryptocurrency using peer-to-peer technology for instant payments. Unlike the traditional financial system, Bitcoin is not owned by any government or any company, or any individual. The price of Bitcoin completely depends on demand and supply.  

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Bitcoin works on a completely decentralized system using the open-source protocol. Mining can be one good option to get hold of some Bitcoins. 

 

Introduced in the year 2008 by an anonymous person or a group of persons known as Satoshi Nakamoto, bitcoin has taken the world by a surprise. It would appear that bitcoin would have to fight its way straight into the heart of classical finance. Its place in its single-handedly built crypto ecosystem is however undeniable.

 

  • Polkadot  

Market Capitalization: $31,035,369,705

 

Polkadot was on board for development by the Swiss-based Web3 Foundation looking forward to providing a fully functional and user-friendly decentralized platform. In 2016, Gavin Wood, one of the Ethereum co-founders, mapped the project along with Peter Czaban and Robert Harbermeier. 

 

As an Ethereum kickstarted, multiple computational tasks happened across the blockchain, which led to the advent of GAS fees. Developers must pay an extra fee as a return of computing energy to validate transactions! Hence, Polkadot evolved as a network that circumvents money spent on extra transactional fees. 

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  • Dogecoin 

Market cap: $25,203,899,451

 

Following the massive success of bitcoin, dogecoin was launched in December 2013. Within one month there were over a million visitors to the official website. It started with a price of $ 0.006. Today, the coin has made over 5000% in 2021. 

 

Dogecoin was created by Billy Markus, Oregon, and Jackson Palmer. It was introduced as a joke, but who knew it would become so significant in the crypto world. It is also used by retailers to receive payments anywhere in the world!

 

  • Shiba Inu

Market cap: $20,973,094,752

 

Being the native and the very first token of the network, SHIB is powered by the Ethereum Blockchain, unlike Dogecoin that works on a similar tech to that of Bitcoin. To make the trade and exchange easier, the tokens are designed to be Fungible tokens as the ERC-20. Working on the Ethereum network, it is a definitive way for creating and issuing smart contracts on the blockchain.

 

Built-in August 2020, the founder is dubbed as Ryoshki and is still unidentified. Moreover, going with the name, the network also invites every dog-inspired artist to the ‘Artistic Shiba Movement’. Afterward, it is also planning to fetch Shiba Inu to the NFT market.

 

5.  Polygon 

 Market cap: $20,973,094,752

An Indian-based crypto platform founded by Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun tackles some specific scalability issues and increases transaction speeds along with network scalability.

The Matic Network aims to solve the scalability issues the Ethereum blockchain deals with. In February 2021, the platform rebranded to the Polygon network, with some technological upgrades and a broader objective.

 

6. Ethereum 

Market cap: $482,611,423,188

 

Ethereum is a decentralized open-source blockchain underlining smart contract functionality. Ether is the native cryptocurrency created by Ethereum miners as a dividend for calculations conducted to protect the blockchain.

 

Suggested in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer Ether gained wide popularity. The development of the Ethereum blockchain was funded by an online crowd sale conducted between July and August 2014. The network then started to function on 30 July 2015. As of then 72 million coins were minted. This reports for about 65 percent of the total circulating supply in April 2020.

 

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