Best Cryptos in 2024. Table of Contents
Best Crypto Assets to buy in 2024
Many people say, “I want to buy virtual currency, but there are so many types that I don’t know which one to buy.”
In this article, we will briefly introduce the types of virtual currencies that are distributed all over the world and 13 types of Cryptocurrencies that can be purchased easily.
There are more than 3,000 types of virtual currencies in circulation around the world.
These 13 Cryptocurrencies are major and popular ones in the market.
1. Bitcoin (BTC)
Bitcoin is a system that was developed in the wake of the “Bitcoin: P2P electronic currency system” released by a person named Satoshi Nakamoto in 2008, and has been in operation since 2009 the following year.
The most distinctive feature of Bitcoin is that it has realized a decentralized electronic payment system that does not have a public issuer or administrator by a decentralized system based on P2P technology.
In the conventional payment system, transactions were completed by the existence of a third-party intermediary, but in the case of Bitcoin, this intermediary does not exist and all participants manage it.
The epoch-making point is the construction of the first decentralized payment system.
2. Ethereum (ETH)
Ethereum (ETH), which appeared in July 2015, is said to be the major virtual currency after Bitcoin (BTC), and its market capitalization is also second only to Bitcoin (BTC) ( Source: Top 100 cryptocurrency market capitalization).
Ethereum was developed by Vitalik Buterin by applying Bitcoin technology, but while Bitcoin (BTC) is a virtual currency used for payment, Ethereum (ETH) is a decentralized application (Dapps).
It has a history of being developed as a currency used within the platform.
One of the unique features of Ethereum is the smart contract function.
To put it simply, the smart contract function is the automatic execution of a contract and refers to a mechanism for automatically executing a contract when the conditions are met.
Since the contract information is written on the blockchain, there is little risk of falsification, and there is no need to go through a third party to fulfill the contract, so it is said to be competitive in terms of cost.
Scalability problems are being solved by solutions such as Plasma, and specific solutions are being discussed daily.
3. Ripple (XRP)
Ripple is a platform specializing in payment systems.
Therefore, strictly speaking, XRP used in the Ripple network will play a role as a virtual currency.
Unlike Bitcoin, which does not have a centralized management entity, Ripple is operated by a business entity called Ripple.
Ripple uses distributed ledger technology, but the mechanism is very different from the public blockchain represented by Bitcoin.
Specifically, verification was carried out by an approver called a validator (unique node list: UNL), which was certified by Ripple as a “trustworthy participant”, and a certain number of validators said, “This transaction is correct.
By admitting, we have adopted a mechanism to reach consensus.
One of the great points of Ripple is its high processing speed.
In fact, in the case of Bitcoin, the payment processing time takes at least 10 minutes, while in the case of Ripple, the payment is completed in a minimum of 4 seconds.
Based on these characteristics, Ripple is expected to play a role as a “bridge currency” that connects different currencies.
4. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a virtual currency created by Bitcoin’s hard fork in August 2017, and its basic specifications are similar to those of Bitcoin.
The biggest feature of Bitcoin Cash is that it is trying to solve the scalability problem that Bitcoin had by increasing the block size of the blockchain.
Specifically, the upper limit of the block size of Bitcoin is 1MB, but Bitcoin Cash is trying to solve the scalability problem by increasing the upper limit of the block size to 8MB.
5. Litecoin (LTC)
Litecoin (LTC) is a virtual currency (cryptographic asset) whose development was started based on Bitcoin in 2011.
While the upper limit of Bitcoin issuance is 21 million, the upper limit of Litecoin issuance is set to 84 million, which is four times higher.
Also, while the block generation time of Bitcoin is adjusted to about 10 minutes, Litecoin is adjusted to about 2.5 minutes.
The feature of Litecoin (LTC) is that the transaction data size called SegWit (Segregated Witness) is reduced in response to Bitcoin’s scalability problem (problem of system and network expandability and flexibility for transaction data processing).
It is said that this method is used.
6. Ethereum Classic (ETC)
Ethereum Classic (ETC) is a virtual currency (cryptographic asset) created by the division of Ethereum in 2016.
Being a hard fork, Ethereum Classic is not systematically compatible with Ethereum.
The reason why Ethereum Classic (ETC) was born was that the project “The DAO” developed on Ethereum was stolen about 5 billion yen by exploiting the vulnerability of the system.
The incident was the beginning.
In response to the Ethereum development team returning to the state before the fraudulent remittance by hard fork and decentralizing it, the community aiming for the decentralized cryptocurrency is “code is law”, and repulsed, the Ethereum Classic (ETC) was born.
Since it is derived from Ethereum, the basic specifications of Ethereum Classic such as smart contracts are not much different from those of Ethereum.
Invest in Ethereum Classic (ETC)
7. Monacoin (MONA)
Monacoin is a virtual currency (cryptocurrency) originating in Japan that can be used on the Internet.
Development began in December 2013 with the motif of the ASCII art “Monor” used on the bulletin board on the Internet, 2channel, and was released in January 2014.
The program is being developed by the Monacoin project, but it does not issue or operate coins and is still being developed by open source.
Monacoin is known for introducing SegWit (Segregated Witness), a method of reducing the size of transaction data.
8. NEM (NEM)
NEM (NEM) is an abbreviation for New Economy Movement, which is a virtual currency (cryptographic asset) whose development began in 2015.
The maximum issuance limit for XEM, the currency of NEM, is set at 8,999,999,999, and there are no plans to issue new ones.
Network payments and token issuance can be performed on the NEM platform.
The feature of NEM is that it adopts a specification called Proof of Importance (PoI) that gives a score of importance to each account to the consensus algorithm (approval method).
In addition, a reward system called harvesting, which is equivalent to mining Bitcoin, is adopted, and the reward is paid according to the degree of contribution to the network.
9. Factom (FCT)
Factom is a cryptocurrency system platform developed by Factom, a US-based company, in 2015.
We are aiming for a distributed management platform for recording and storing all kinds of electronic data (documents).
The currency is Factoid, and the currency abbreviation is FCT.
By utilizing Factom, it will be possible to prove important documents such as registered copies, resident’s cards, loan records, securities, insurance, etc. without a third party.
10. Risk (LSK)
Risk (LSK) is a virtual currency (cryptographic asset) that started operation in 2016 with the aim of becoming a blockchain platform consisting of decentralized networks.
It is often compared to Ethereum (ETH) as a platform for running decentralized applications (DApps: Decentralized Applications) and smart contracts.
The characteristic of Risk (LSK) is that it is highly versatile because Javascript (JavaScript), which is one of the main languages for development programming, is adopted.
In addition, transaction data processing is performed in parallel with a function called Sidechain, which is different from the main blockchain, to solve scalability problems (system and network expandability/flexibility problems for transaction data processing).
Risk (LSK) adopts a method called DPoS (Delegated Proof of Stake) like indirect democracy as a consensus algorithm (approval method), and the top 101 representatives selected by voting Priority is given to the processing of transaction data.
11. Stella Lumen (XLM)
Stellar Lumen (XLM) is a virtual currency (cryptographic asset) developed in July 2014.
The operating entity is the Stella Foundation.
The currency unit is lumens.
While Ripple (XRP) was developed for inter-company, Stellar Lumen (XLM) has a history of being developed for remittance and settlement between individuals.
The remittance fee is 0.00001XLM (about one-millionth of a dollar), which is a very low level.
Another feature of Stellar Lumen (XLM) is its high payment speed.
Bitcoin takes about 10 minutes, while Stella Lumen takes about 2-5 seconds.
12. Quantum (QTUM)
Quantum (QTUM) is a platform that combines the currency functions of Bitcoin with Ethereum’s smart contracts.
PoS (Proof of Stak) is adopted as the consensus algorithm.
13. Basic Attention Token (BAT)
The Basic Attention Token (BAT) is a new type of token available to publishers, advertisers and users for trading.
With BAT, you can dramatically improve the efficiency of your digital advertising.
All BAT transactions take place on the Ethereum blockchain.
BAT has also been developed in parallel with the Brave browser, which blocks unwanted ads and trackers.
The Brave browser is aimed at a privacy-friendly next-generation browser that enables fast browsing by blocking unwanted ads and trackers.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...