Overview of 5 Cryptocurrencies (Stellar (XLM), Dogecoin, Binance Coin (BNB), Monero (XMR), PolkaDot)
Crypto currencies are available in the form of digital tokens and coins, and it is based on decentralized peer-to-peer blockchain technology. It is not possible by any government to control or monitor the bitcoin mining and all transactions made with crypto is stored in a public ledger. Earlier, bitcoin is considered as the best investment option in crypto world, but people can also diversify their portfolio by adding other currencies and digital assets to their investment plan.
There are more than eighteen thousand cryptocurrencies available in the market, and some of them gained a huge popularity. Here, you can find top 5 cryptocurrencies other than bitcoin:
Polkadot (DOT) – It is PoS systems that deliver interoperability among other blockchain, and you can find two types of contracts in this blockchain, such as permissioned and permission-less. It can create parachains and add more blocks to the blockchains. Ethereum and Polkadot are almost same, but Ethereum is based on dApps and developers can use their own blockchain to verify their transactions in Polkadot. Apart from that, developers need to use their own security measures to create new blockchain for Ethereum and their blockchains can be hacked easily because large blockchain is hard to break, but small chains can be hacked easily. On the other part, Polkadot has an existing chain where developers can add their blocks to verify their transactions. Shared security measures are used in the case of Polkadot.
Polkadot was introduced by the core founder of Ethereum, Gavin Wood, and it has a market capitalization of $17 billion till March, 2022.
Stellar (XLM) – financial institutions need to carry our large transactions at a time and XLM is an open blockchain technology that can be used by banks and investment firms. If you do a little bit of research on banks and financial section then you will find that such banks and financial institutions can take several days to validate their transactions and they have to go through some intermediaries to process their transactions.
Stellar can be used by anyone. Using it is more convenient because of its cross-border transaction. XLM or Lumens is the native currency of Stellar, and you have to hold this currency to make a transaction through stellar blockchain network. The founder member of Ripple Labs, Jed has launched this crypto currency in the market. The market cap was of USD 4 billion till March 2022.
Dogecoin (DOGE) – Hope, you have seen the famous Shiba Inu, a avatar of DOGE. It is a memecoin that has gained a huge success in 2021 and it is used by many companies as a payment gateway. Billy Markus and Jackson Palmer were created this crypto and they have launched it in the market in 2013. They are the software engineers and their coins have gained a market capitalization of $15 billion in 2021. It was in the 13 position in the crypto market.
Binance Coin (BNB) – BNB is a payment method that is used by the trading exchange Binance Exchange. It takes the third in the crypto market. It is basically dealing with the fees associated with this trading market and people can use these tokens to save their transactions fees. Changpeng Zhao was founded this exchange and it is one of the most popular ones in the world. Binance Coins or BNB has a market capitalization of $61 in 2021.
Monero – It is a unique crypto currency that is based on a public distributed ledger technology and it has the best privacy policy or technology than other currencies or digital assets. Here, observers cannot disclose or decode the address, amounts, balances and transactions histories, and it is based on CryptoNote. Apart from that Monero has a large community of developers and they can provide the best privacy protocols that are impossible to break. But it was used in some illegal activities. Therefore, the United States Internal Revenue Service banned it.
So now, you can choose the best crypto according to your needs and invest your funds. But you need to choose a platform where such coins and tokens are available, and you can try Bitcoin Era in this regard.
