10 most popular cryptocurrencies

Cryptocurrency or digital currency is the invention of the Internet. In fact, someone there thought: “What if we can create a system in which money is not related to geography, but to the Internet,” and now we have over 3,000 cryptocurrencies.
Not all cryptocurrencies are created equal. Some have amazing underlying technology. Others - as a joke. Others were part of a complex pyramid scheme. Some are pretty worthless because they are perceived as meaningless - any cryptocurrency is considered as important as many users consider it to be valuable.

Cryptocurrency rates can rise and fall quickly, as it happens with other assets (think of stocks or property), which makes it very volatile and risky. Therefore, we have compiled the 10 best digital currencies with a description of the reasons for their popularity.

Note: The rating was borrowed from the CoinGecko website, which evaluates and develops cryptocurrencies, merges and sells. All figures are correct as of mid-July 2016.

10. Storchcoin X

In July 2014, the Storch platform released the Storchcoin X cryptocurrency. Essentially, Storch is a decentralized open source database with a coded cloud warehouse that uses tokens (electronic keys) to allow entry and use of the Storch platform. The current commercial value of the system is about $ 8 million.

9. Lisk

Lisk is a crowdfunding cryptocurrency, it is not like the others, because it positions itself as "the first blockchain cryptocurrency with the use of side chains." The Lisk system, in contrast to the rest of the platforms in this rating (except for Ethereum), can be used by any people to form their decentralized applications "dapps" in the "Javascript" programming language.

Therefore, Lisk is important in practice for creating applications and can be used for the production of various types of "dapps", including websites, social networks, online stores and other online services. To date, the commercial value of the system is approximately $ 25 million.

8. MadeSaifCoin

MaidSaifCoin, equally known as Safecoin, is a cryptocurrency for the Safe platform (stands for safe access for everyone). It is a data network that pays great attention to security. Calling itself "the Internet as a result of teamwork", the platform makes it possible to allocate space to the network on your computer in exchange for money.

Some decentralized applications now use the Safe Network to store data securely. MadeSafeCoin has a commercial value of approximately $ 39 million.

7. Dash

Dash (an abbreviation for "digital money") is a cryptocurrency with a strong emphasis on anonymity (using confidentiality methods) and speed (transactions). Previously, it was renamed from Darkcoin to stop being associated with the "dark Internet".

Dash ranks eighth in size, with an estimated commercial value of $ 77 million. Currently, the platform is deploying the Dash Evolution project, in which it is trying to make cryptocurrency more user-friendly. You can spend Dash to buy goods using electronic devices.

6. Dogcoin

Initially, Dogcoin was made as a "joke currency", but after some time it received a serious continuation. The cryptocurrency, modeled after the meme dog, released in December 2013 by programmer Billy Markus, is now often used to reward users on forums.

It is also often sent as donations for enhanced fundraising - for example, the Doge4Water Foundation raised thousands of dollars. Dogcoin currently has an estimated commercial value of about $ 25 million.

5. Ripple

Next on the list is a cryptocurrency called Ripple. It is, in fact, a system of massive mutual settlements in real time, a currency exchange and the organization of money transfers. The XRP platform was released in 2012 and, with a commercial value estimate of $ 243M, has been rolled out to a number of banks and payment systems to reduce costs.

4. Monero

Often, Bitcoin is considered an "anonymous currency", but this is a misconception. The Monero cryptocurrency uses the ring signature technique and places great importance on the secrecy of information. It is a "secure, anonymous and untraceable" currency.

Monero is ranked fourth with a commercial value of $ 138 million and is used in most cases by people who prefer to remain anonymous on the Internet.

3. Litecoin

In October 2011, a former Google employee, Charles Lee released Litecoin as an alternative to Bitcoin. Litecoin has similarities to Bitcoin in that it can also be earned, used as a currency, and paid for goods and services.

Litecoin's commercial value is estimated at about $ 180 million, a figure well below its 2013 peak of $ 1.2 billion.

2. Ether

Ethereum is a decentralized platform that is capable of peer-to-peer smart contacts. The cryptocurrency for Ethereum is called Ether. As of September 2016 and as a result of an attack on the DAO platform, Ethereum was split in two: Ethereum (ETH) and Ethereum Classic (ETC).

This platform, developed by Vitalik Buterin and released in July 2015, after successful massive sales, was sold as "a cryptocurrency and platform for decentralized applications of the next generation." Its commercial value is estimated at $ 1.1 billion.

Peer-to-peer smart contacts are where the Ethereum platform is valued apart from cryptocurrency. This allows people to code and contract without third parties. For example, one of the tutorials explains how you can set up a smart contact for a conference where organizers can sell tickets, set a maximum number of attendees, and automatically provide refunds.

1. Bitcoin

It all started with the original cryptocurrency - Bitcoin. It was written and published in 2009 by Satoshi Nakomato. To date, Bitcoin has the largest estimate of commercial value - an average of $ 10 billion, this amount exceeds all other cryptocurrencies from this list combined.

Most people believe that cryptocurrency is Bitcoin. Because it enjoys such a great reputation that all other cryptocurrencies are called "altcoins" and are referred to as alternatives to Bitcoin.

Conclusion

In addition to this list, there are also newer cryptocurrencies that have other positives. There are those who sometimes merge and drop out of this rating, for example Siacoin and Counterparty. Only with the passage of time can one find out whether these currencies will remain in the top ten or will be displaced by others.