Top 5 CryptoCurrencies

cryptocurrency

Cryptocurrency is a type of digital currency that is based on cryptography. Cryptocurrency uses cryptography for security, making it difficult to counterfeit. Public and private keys are often used to transfer the currency from one person to another.  See here the top 5 currencies 

bitcoincv 1. Bitcoin 

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

Supply: 21 Million coins
Hashing Algorithm: SHA256D
Market Capitalization: $1.5 Billion
Launch Date: Jan 3rd 2009

www.bitcoin.org/en/

litcoincv 2. Litecoin

Litecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. Litecoin provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The Litecoin network is scheduled to produce 84 million currency units. One of the aims of Litecoin was to provide a mining algorithm that could run at the same time, on the same hardware used to mine bitcoins. With the rise of specialized ASICs for Bitcoin, Litecoin continues to satisfy these goals. It is unlikely for ASIC mining to be developed for Litecoin until the currency is widely used.

Supply: 84 Million coins
Hashing Algorithm: SCRYPT
Market Capitalization: $525 Million
Launch Date: Oct 7th 2011

www.litecoin.org

peercoincv 3. Peercoin

Peercoin’s original innovation is the proof-of-stake/proof-of-work hybrid system. Like other cryptocurrencies, initial coins can be mined, but the core network is maintained by coin holders, rather than the fastest pool. Increased Security, with maintaining the network through the hybrid proof-of-work/proof-of-stake algorithm reduces the risk of the Selfish-Miner Flaw, 51% attacks, and the block bloating that have been used to exploit other currencies. Energy and Cost Efficiency, with maintaining the network requires far less energy than generating hardware-intensive proof-of-work hashes. Proof-of-stake also does away with the ~$1 billion “tax” on the Bitcoin network through proof-of-work blocks.

Supply: No Hard Limit
Hashing Algorithm: SHA256
Market Capitalization: $111 Million
Launch Date: Aug 12th 2012

www.peercoin.net

namecoincv 4. Namecoin 

Namecoin is an open source decentralized key/value registration and transfer system based on Bitcoin technology ,a decentralized cryptocurrency. Namecoin uses modified Bitcoin software, each Namecoin is divisible down to 8 decimal places. It allows you to, securely register and transfer arbitrary names (keys), attach values (data) to the names (currently up to 520 bytes, will be extended), and much more. Namecoin acts as an alternative, decentralized DNS, which would avoid domain name censorship by making a new top level domain outside of ICANN control, and in turn, make internet censorship much more difficult, as well as reduce outages.To register a name, you must own some namecoins (NMC, the internal cryptocurrency used by the software).

Supply: 21 Million
Hashing Algorithm: SHA256D
Market Capitalization: $97 Million
Launch Date: Apr 18th 2011

www.namecoin.info

dogecoincv 5. Dogecoin

is a Litecoid derived cryptocurrency that features the Shiba Inu from the “Doge” Internet meme on its logo. Dogecoin has a fast initial coin production schedule, compared with other cryptocurrencies. While there are currently few commercial applications for Dogecoin, the currency is gaining traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content.  Dogecoins are associated with the motto “To the moon”.

Supply: 100 Billion , end 2014
Hashing Algorithm: SCRYPT
Market Capitalization: $58 Million
Launch Date: Dec 8th 2013

www.dogecoin.com

See more Crypto Currencies
 
 
 
*The ranking is based on the current Market Capitalization, updated every Week.
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