Divij Jain May 26, 2021
XRP’s USP is its exchange feature. The transfer time is immediate, and XRP can be exchanged for many other currencies without any fees and wait times. Unlike most cryptocurrencies, XRP works on the Harsh Tree rather than blockchain technology. This cryptocurrency cannot be mined either as there is a finite supply of coins – 100 billion.
Market cap: $49.22B
Price today: $1.04
The main usage of Stellar is to connect financial institutions with blockchain technology and establish cheaper transactions. Instead of a traditional mining network, Stellar uses a federated byzantine agreement algorithm (FBA) for transactions. This results in quicker transactions compared to other blockchain-based transaction algorithms.
Market cap: $42.25B
Price today: $0.4595
Popular in Japan, Cardano works on a blockchain network and like other cryptocurrencies, it can be used for direct value transfer. What gives this cryptocurrency a boost is a future possibility of handling smart contracts, which means developers will be able to make applications around its system.
Market Cap: $27.23B
Price today: $1.78
Launched in 2013 as a joke, the reason Dogecoin was created is to satirize the buzz around altcoins by making the doge meme into a cryptocurrency. The joke soon took a turn and now Dogecoin is one of the prominent cryptocurrencies in the market. Dogecoin has faster transactions compared to other blockchains, with 1-minute block intervals. Since there is no limit to the supply of this coin, Dogecoin can inflate infinitely.
Market cap: $9.54B
Price today: $0.3651
EOS’s blockchain platform also holds smart contract abilities, which means software developers can make apps or dapps around its system. The Dapps feature makes it similar to Ethereum, the second-highest valued cryptocurrency.
Market cap: $3.79B
Price today: $6.38
Launched on Ethereum, Tron moved to its own blockchain in 2018 and now, it is a direct competitor to Ether. In 2019, Tron and Tether announced a partnership to launch a token, TRC-20-token. According to the project, the network uses a proof-of-stake system in which 27 super representatives can produce blocks and are rewarded with 336,384,000 TRX’s annually.
Market cap: $3.34B
Price today: $0.08261
