Top 5 Most Worth Cryptocurrencies (continued)

By nguyenhieu | hieummo | 16 May 2020


3. Litecoin (LTC)

     Release year: 2011
Market capitalization: 4.6 billion USD
Current price: 42 USD
Litecoin is a modified version from Bitcoin, the Litecoin blockchain takes the original code from the BTC blockchain and improves what it can and cannot do. Therefore, Litecoin is faster, lighter and cheaper than the original BTC..

Advantages :

••Litecoin is open source: Because Litecoin is a fork of BTC and has open source, it is an open source system that makes it easy to update software to meet changing market needs.

••Litecoin is scalable. All other cryptocurrencies, including Bitcoin, cannot be scaled. It means the more transactions in the world, the more time and money each transaction takes ..

••Compared to Bitcoin, Litecoin is very fast. It handles transactions every 2.5 minutes, while Bitcoin takes 10 minutes ..

••Litecoin also has a relatively low transaction cost and has significant advantages over Bitcoin and many other cryptocurrencies. This makes it a great cryptocurrency..

••The Litecoin mining process is intended to be open to non-professionals, while bitcoin mining requires more professional miners to use expensive hardware.

••Note: Segwit allows technologies like the Lightning Network to conduct transactions instantly, anonymously and cheaply ..

Defect:

••Although it is still efficient and faster than Bitcoin, its uniqueness has diminished with the technical update of Bitcoin and other cryptocurrencies ...

4. Ripple (XRP).

   Market capitalization: 13 billion USD
Current price: $ 0.1965
Ability to create blocks: 3.5 seconds / block.

Its main goal is to establish a global payment network, thus ensuring more efficient transactions between world financial institutions. XRP is the name of the digital currency that its transactions operate on Ripple's network...

Advantages:

•• Block chain technology enables Ripple to support all transaction needs in different environments, with no time, location or even currency restrictions. In other words, its greatest advantage comes from unlimited payments ..

•• The Ripple network supports instant transactions at a low cost. Cross-border payments, with traditional fiat usually require 3-5 days for confirmation, but XRP transactions only take 4 seconds ..

•• Fast and cheap trading is the main advantage of Ripple. Currently, the price of each transaction is $ 0.30. XRP cannot be mined, so there's no need to pay mining fees..

••Ripple works with more than 100 banks, including Bank of America, Swiss Bank, Standard Chartered Bank, American Express Bank and many others..


•• Unlike many other cryptocurrencies, Ripple is regulated. Because Ripple needs to work with traditional financial institutions, they require more complex compliance.

Defect:
••Strictly speaking, XRP is not a completely decentralized digital currency. The majority of Ripple coins (XRP) are controlled by a small number of Ripple companies. This means that Ripple is at greater risk of volatility.

•• Despite the high market value of XRP, its actual circulation is not large. In this case, it means that the risk and volatility will be higher. Historically, Jed McCaleb, one of Ripple's founders, announced that he would sell his personal 9 Ripple, causing the price to plummet.
.

••Although the Ripple system itself is well publicized, cross-border payment is a very complicated process, current users are mostly speculative and they have not made good use of Ripple for cross-border payments. ..


••The true goal of Ripple is to replace the Global Interbank Financial Telecommunication Association (SWIFT), not to become a world currency. SWIFT is used for cross-border transactions between banks in many different countries. There are about 7,600 SWift members worldwide ...

5. Bitcoin Cash (BCH)

Market capitalization: more than 5 billion USD
Current price: 235 USD.

BCH uses the Bitcoin protocol and increases block size, which will allow the Bitcoin Cash network to process more transactions at a lower cost. .

Advantages:

•• Unlike Bitcoin with a block size limit of 1MB, BCH has a larger block size (8MB). Therefore, many transactions can be processed at a lower cost, with better efficiency. .


•• Bitcoin cash was created to reduce the time and cost of bitcoin transactions. If scalability problems continue to be a problem for Bitcoin, this could be good news for Bitcoin cash. . 

•• Bitcoin cash recognizes Bitcoin's weaknesses and is technically improved to make the BCH coin more secure. .

•• Like Bitcoin, the total supply of Bitcoin Cash is equal to 21 million. Before buying, consider the impact of this limited supply on the value of money. .

Defect:

•• Bitcoin cash is highly centralized. Currently, there are 3 mining groups, accounting for more than 51% of the BCH amount. This is quite risky because the future of BCH is highly dependent on these 3 mining groups. .

•• Bitcoin cash has not been widely accepted. Just like any other virtual currency, the value of BCH will be affected by community acceptance. .

After exploring the potential and risks of the top 5 cryptocurrencies, how do you invest in these top cryptocurrencies ..?

The content of this article is only the personal opinion of the author, not necessarily meaningful investment advice, for reference only .. @@

How do you rate this article?

6


nguyenhieu
nguyenhieu

Loveandlife


hieummo
hieummo

Remember, where you make money, whether it's online or in real life, it doesn't work right away. A strict, thorough factor is the key to your success.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.