You must have heard about of Cryptocurrency a lot these days that its the future of currency or the medium for exchange. Then there must be a lot of questions in your mind what exactly it is ? and how many cryptocurrencies are currently present in the market and which are the best cryptocurrency to invest? If it is so then you are in the right place to know about it. Let’s first know what is cryptocurrency?
Cryptocurrency is an electronic currency which is created to work as a medium of exchange and secure their transactions by Cryptography. You can also say cryptocurrencies as digital currency or virtual currency or the alternative form of the currency which we are using currently issued by our central banks. What so different about these currencies is that they are not regulated or issued by any banks or authorities. These are the decentralized currency works through a block-chain. These block-chain contains the record of the transactions i.e, a ledger of the transaction and distributed between multiple channels. Transactions go through a block-chain process. And peer-to-peer network required for the validation.
There are a number of Cryptocurrencies currently trading in the world. There are few well establish and there are few trying hard to make their better presence in the market.
We have studied many cryptocurrencies which exists in the world and shortlisted our Top 10 list based on their current market price in which they are trading. Let’s check out our Top 10 best Cryptocurrency to invest in 2018.
10. Bitcoin gold
Bitcoin gold is hard to fork cryptocurrency from the original Bitcoin occurred on October 2017. Jack Laio founder of Lighting ASIC and a mining firm from Hongkong took the care of the project. In most properties, it is similar to Bitcoin but restricts the use of specialized GPU for mining coins and also will change the way transactions record on the blockchain. This project is also called as airdropped as it was distributed new prior coins to the owners. Bitcoin gold uses Equilhash algorithm instead of Bitcoin’s SHA-256 proof-of-work algorithm which changes the way it is mined by the miners.
|Current Price||Rs. 4,559.67|
|Market Capitalization||$ 1.20 B|
NEO is a China-based cryptocurrency project founded by Da Hongfei. Originally launched as AntShares in 2014. It also calls as “Ethereum of China”. Ethereum uses different blockchain algorithm which improves Ethereum’s model. And also lowers the time taken in processing a transaction. It can process 10,000 transactions per second.
A total of 100 M NEO was issued and created in the Genesis Block and distributed as described in its white paper. The smallest unit of the NEO is 1 NEO which cannot be divided. China’s ban on ICO (Initial Coin Offerings) impacts the price value of NEO.
|Current Price||Rs. 4,565.45|
|Market Capitalization||$ 4.65 B|
Former Google employee Charlie Lee created the Litecoin in 2011. The purpose is again to improve the flaws of the Bitcoin. Litecoin is based on open-source global payment network and uses a different algorithm for hashing i.e, script instead of SHA-256. Litecoin becomes popular very soon because of their transaction processing speed. Unlike the Bitcoin which takes 10 min for a transaction to process Litecoin only takes 2.5 min per transaction. Litecoin’s coin limit is up to 84 M units as compared to the Bitcoins 21 M.
|Current Price||Rs. 7,148.43|
|Market Capitalization||$ 6.15 B|
Monero created in April 2014 as the fork of the bytecoin. It welcomes new features to their users and the main of its anonymization characteristic. Monero transactions are untraceable because their transaction passes through a randomly created address only for that transaction. Monero ledgers are also different from the other blockchains. It doesn’t record the actual stealth addresses of the sender and receiver and the address which is created at the time of the transaction is also not recorded by either party.
Monero also has a feature called ring signature in which the transactions performed between two parties are grouped in the other multiple transactions which occur among other unrelated parties which makes this untraceable. Monero also handles the transactions differently by splitting the amount into multiple amounts and treated them as separated transactions and later these transactions are mixed with ring signature.
|Current Price||Rs. 10,008.57|
|Market Capitalization||$ 2.43 B|
DigixDAO is first successful DAO in the Ethereum platform based on the smart contract focused blockchain. It considers being less volatile compared to other cryptocurrencies. The Digix is a digital token which tracks the price of the gold bullion and the DigixDAO tokens offer the shares of the operations to the public. It is based on the Ethereum blockchain hybrid system which uses the Bitcoin to purchase gold certificate represented on Ethereum. Then these certificates turned into Ethereum based digital tokens using a smart contract called minter.
Let’s say you have a 10 gram of gold bar certificate then you put it through a smart contract on Ethereum and out you will get 10 Digix tokens. With these Digix tokens, you can redeem physical bullion. And the holders of Digix DAO tokens will receive income based on the transaction fees of Digix tokens transactions i.e, 0.13% for 1 gram at per gold transaction.
|Current Price||Rs. 10,719.44|
|Market Capitalization||$ 336.40 M|
On October 2016, Zooko Wilcox founder of Zcash launched Zerocoin protocol to enhance the functionality of Bitcoin and transformed into Zerocash system which later names as Zcash. It is a much more secure version of cryptocurrency then preciously released. It provides extra security to the blockchain on recording and publishing all the transactions without the details of the sender, receiver and the amount.
Zcash offers a feature to their users which is called Shielded Transactions in which uses advanced cryptographic methods or zero-knowledge proof construction called zk-SNARKs. The later company raised around $ 2 Million from the 17 investors. Zcash is also limit to 21 Million coins like Bitcoin.
|Current Price||Rs. 21,133.48|
|Market Capitalization||$ 996.41 M|
Dash was created by Evan Duffield and originally released as XCoin on 18 January 2014. After 10 days they changed its name to Darkcoin. Then on March 2015, its name branded as Dash. Dash is a blended form of D-igital C-ash. It is the first digital currency with a decentralized blockchain governance system. It is forked out from Bitcoin give users a better and faster means to complete their transactions. As it is an advanced version of Bitcoin, it fulfills all the requirements of the users where Bitcoin lacks.
One of the big factors is speed. Where Bitcoin takes minutes for a transaction to complete. Dash only take seconds to complete those transactions. InstantSend features are also available for the Dash users which prevent the issue of double spending because it locks the transactions once they are made without waiting for the block confirmation. Dash also uses coinjoin mixing method called PrivateSend in which there is no way to find out how much fund is received and send to whom in what amount. For this PrivateSend, there have to be minimum three transactions needs to take place.
|Current Price||Rs. 33,685.25|
|Market Capitalization||$ 4.13 B|
Ethereum was created by Vitalik Buterin and launched in 2014 is an open-source platform for computing and operating system based on smart contract functionality. You can also see it as advance version Nakamoto models. It is also based on blockchain procedure as like Bitcoin and in addition to uses smart contract in those blockchains for further more security. These smart contracts are self-performing contracts once the requirement is met and these contracts can’t be rewritten or changed.
Ethereum is also a programming language running on the blockchains and Ether is the way to drive in the Ethereum platform. It is traded as a digital currency exchange like the other cryptocurrencies. It gradually makes its presence in the market left Ripple and Litecoin market cap behind but still far from the Bitcoin. After the DAO project collapse, Ethereum splits into two blockchains, newer one as Ethereum and older one continued as Ethereum Classic.
|Current Price||Rs. 52,400.00|
|Market Capitalization||$ 79.33 B|
2. Bitcoin cash
To increase the scalability of Bitcoin, the Bitcoin community created a hard fork (a blockchain splits into two incompatible separate chains) of Bitcoin and formed Bitcoin cash in August 2017. At the starting the size of blockchain kept low i.e, 1 MB to secure the transactions from the spam attacks. Because of the volume of the transactions, the process becomes slow.
A Bitcoin transaction processing takes much time as compared to our traditional credit cards issued by the central banks which depreciate its use and its blockchain size was also an issue. This Bitcoin cash blockchain is consist of 8 MB per blocks and takes lesser time to process. Bitcoin cash gains popularity in the market are quick.
|Current Price||Rs. 68,897.46|
|Market Capitalization||$17. 88 B|
It’s on the top of our list of best cryptocurrency to invest in 2018. As it is the first and the most popular decentralized cryptocurrency created by the group of unknown persons under the name of Satoshi Nakamoto in 2009. This Bitcoin currency is based on the blockchain peer-to-peer network. This one blockchain is of 1 MB and took 10 minutes to complete a transaction. Bitcoin promises lower transaction fees on the exchange as compared to the others. There is no physical exists of Bitcoin. All the records are maintained in the public ledger and all the users have the copy of it.
These Bitcoins are created after the massive amount of computing calculations called mining and the persons who involve in this procedure is called Bitcoin miners. Limit for bitcoin creation is 21 million. After that, this procedure will stop. There are around more than 1 lakh merchant and vendors worldwide who accepts Bitcoin as the mode of payment.
|Current Price||Rs. 5,12,585.70|
|Market Capitalization||$ 133.76 B|
This is our Top 10 best cryptocurrency to invest in 2018. Let us know how you liked our article. Your feedbacks are valuable to us.