After the invention of the first and well-known crypto coin (bitcoin), Many Cryptocurrencies have been introduced into the Crypto Space, Currently, there are over 2000 coins on the Market and only a few deserve to be among the top 10 based on their characteristics in the crypto trading space.
For the past few months, most of the well-known Cryptocurrencies have been declining in some areas regarding Cryptocurrency trading.
In April 2014, The Cryptocurrency known as Monero was introduced into the crypto ecosystem by the lead author known as Nicolas van Saberhagen. His main focus was on privacy, decentralization, and fungibility. Monero is a public ledger and no outsider can tell their source and destination.
Currently, Monero is part of the top 15 Cryptocurrencies. XMR is experiencing rapid growth in market capitalization due to its privacy and robustness.
Monero can be used as an exchange for other coins, which makes it a unique coin (fungibility).
For those who are concerned with fungibility in relation to Cryptocurrency. No need to look further, Monero is the best.
It has a private view key which is used When verifying and checking the blockchain that a fund has been sent and received and a public view key which is used Whenever a public address is generated and during signature verification on a transaction, a public spend key is used. Monero has all these interesting features which make it special from other coins.
Next on the line is Dash. The Cryptocurrency is currently ranked 13th on market capitalization. Dash is designed to allow a quick and swift transaction to overcome shortfalls in Bitcoin. Dash coin focuses on privacy and transactional speed. Its users have the ability to make their transactions anonymous if they wish to.
It exhibits features such as master nodes, privately send an instant payment which makes it special and reliable to trust especially in the field of trading. With these unique features, Dash deserves to be among the top 10.
IOTA, one of the promising coins was introduced into the Cryptocurrency ecosystem on the 11th of June 2016. Unlike other coins, it allows you to do the mining by removing any additional cost which miners usually charge as a fee.
All you have to do is make 2 microtransactions and you are done. Meaning, miners have no business with your transactions, Unlike other coins where you pay for mining fee. This makes IOTA an effective way of moving funds.
It has integrated into the Internet of Things (IoT) in the crypto ecosystem. It has a lot of potentials for unlimited transaction per second and also gives individual and businesses laws which are easy to comply with.
We Recently reported that UK-based auto manufacturing giant Jaguar is working on a project to reward its customers with IOTA (MIOTA) cryptocurrency. The reward is meant to serve as an incentive to encourage drivers to share traffic information such as congestion or bad road conditions. Based on this partnership, the more information drivers provide, the more they earn and Jaguar is making it easy for those not familiar with cryptocurrencies by installing wallets in its vehicles to safely store reward tokens.
IOTA’s tangle technology behind it makes it immune to hacking. With these unique features in relations to trading, IOTA justifies being part of the top 10.
ZCash is one of the prominent cryptocurrencies in the Cryptocurrency ecosystem and currently ranked at the 25th position on the market capitalization. After its invention, it has gained much attention in the market ground.
The Digital currency focuses on using cryptography to enhance privacy for its users compared to Bitcoin and other cryptocurrencies. The Founder Zooko Wilcox-O’Hearn released a statement in relation to their growth and expansion of their long-term plans.
The question here is what makes Zcash unique and why it should to be part of the top 10. ZCash has the same structure as Bitcoin just that, privacy is included. It gives complete anonymity by giving a detailed account of all transactions done by permitting users to have a copy of their transaction.
Most transactions made are published on a public Blockchain, making it difficult to attempt indecisive practices.
Maker is currently the 20th largest cryptocurrency according to market capitalization. Volatility and stability are crucial areas when it comes to Cryptocurrency trading in crypto space.
Maker’s Stablecoin Dai is The first decentralized stablecoin on the Ethereum blockchain that works together to attain stability in terms of trading. The token is pegged to the US Dollar, indicating that the value of Dai is always equal to that of the Dollar.
Dai is able to stabilize the coin system which serves as a practical solution for the fluctuation in Crypto trading. Looking for a cryptocurrency that stabilizes fluctuations? then you should consider Maker’s Dai.
Cryptocurrencies such as Monero, Dash, Zcash, IOTA, and Maker are the few coins in the crypto ecosystem that deserves to be among the top 10 based on their unique characteristics.
These coins are showing a remarkable trend for the past few months. Coins such as Monero and Dash are getting closer to the top 10 based on market cap and I strongly believe the other three will gradually follow.