The Top 3 Cryptos Ranked by Market Cap
Bitcoin has always been the number one crypto but in recent months, its market dominance has been challenged by some of the newer cryptos. The crypto that is most commonly associated with this phenomenon is Ethereum. Created in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (DAPPS) to be built and run without any downtime, fraud, control or interference from a third party. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform and is sought by mostly developers looking to develop and run applications inside Ethereum, or now, by investors looking to make purchases of other digital currencies using ether. According to Ethereum, it can be used to codify, decentralize, secure and trade just about anything: voting, domain names, financial exchanges, crowdfunding, company governance, contracts and agreements of most kind, intellectual property.
Ethereum is currently the 2nd largest cryptocurrency with a market cap of $62 billion (as per June 11 2018).
The 3rd largest crypto is Ripple which was also founded in 2015. Ripple had somewhat of a rocky start but in the past year has really started to pick up steam.
1. Bitcoin: $127.5 Billion
Bitcoin is currently ranked number one and has a market cap of $127.5 Billion. It was created in 2009 by an unknown source, it 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.
2. Ethereum: $65.8 Billion
Ethereum is currently ranked number two and has a market cap of $65.8 Billion. It was created in 2015 by Vitalik Buterin, it is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party.
3. Ripple: $32.2 Billion
Ripple is currently ranked number three and has a market cap of $32.2 Billion. It was created in 2012 by Chris Larsen, it is a real-time gross settlement system (RTGS), currency exchange and remittance network by Ripple. Also called the Ripple Transaction Protocol (RTXP) or Ripple protocol, it is built upon a distributed open source Internet protocol, consensus ledger and native cryptocurrency called XRP (ripples).
1. Bitcoin (BTC) – $125,976,000,000
2. Ethereum (ETH) – $53,426,000,000
3. Ripple (XRP) – $30,906,000,000
1. Bitcoin (BTC)
Bitcoin is not only the original cryptocurrency that started the current blockchain revolution, but it is also the crypto with the largest market capitalization. Its price has seen wild swings in value, growing from under $1,000 at the beginning of 2017 to a peak of close to $20,000 in December. The recent fall in price from nearly $20k to under $6k has some worried that it could be the end for Bitcoin. However others believe that new and more efficient mining technology will become available and that this will increase adoption of Bitcoin and hence its ultimate value.
2. Ethereum (ETH)
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum uses a public blockchain similar to bitcoin but also enables advanced programmable transactions types. This flexibility makes Ethereum the perfect instrument for blockchain -application. But it comes at a cost. After the Hack of the DAO – an Ethereum based smart contract – the developers decided to do a hard fork without consensus, which resulted in the emerge of Ethereum Classic. Besides this, there are several clones of Ethereum, and Ethereum itself is a host of several Tokens like DigixDAO and
Bitcoin: $110,817,857,533
Bitcoin (BTC) is the first decentralized digital currency, created in 2009. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented to increase commerce while eliminating third parties, like banks, credit card companies and other institutions that handle money.
Bitcoin is the biggest cryptocurrency on the market currently with a market cap of over $110 billion dollars. This is over 50% of the entire cryptocurrency market’s $223 billion dollar capitalization.
Ethereum (ETH) is a platform that can be used to create decentralized applications (Dapps). It was released in July 2015 by Vitalik Buterin, Mihai Alisie, Anthony Di Lorio, and Charles Hoskinson. Ethereum has become more than just another digital currency; it’s also now a platform for creating Dapps. Dapps are designed to take advantage of blockchain technology, which makes them totally free from censorship or manipulation from third parties.
Ethereum currently has a market cap just over $
Bitcoin
Bitcoin is a cryptocurrency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Bitcoin is a peer-to-peer electronic cash system that does not rely on any central authority for transaction processing and settlement. Bitcoin enables payments to be sent between parties without passing through intermediaries such as banks and without incurring transaction fees.
Bitcoin transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. In the Bitcoin protocol, users send bitcoins by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated public database known as the blockchain, with consensus achieved by a proof-of-work system called mining.
Ethereum
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on 30 July 2015, with 11.9 million coins “premined” for the crowdsale. This accounts for about 13 percent of the total circulating supply.
In 2016 Ethereum was split into two separate blockchains – Ethereum, and Ethereum Classic following a hack which took place on the DAO project building on Ethereum. The new version preserved the original