List of Altcoins by Market Cap: Other than Bitcoin all other cryptocurrencies are termed as “altcoins”. Altcoins are other crypto coins introduced after Bitcoin’s success. Altcoins are usually sold as a better alternative to bitcoin. Altcoin “term” is referred to all cryptocurrencies other than bitcoin.
According to some estimates, the list of altcoins by market cap comprises 5,000 at the beginning of 2020. According to CoinMarketCap, as of March 2021, altcoins accounted for more than 40% of the total cryptocurrency market.
In the future, altcoins could only include cryptocurrencies based on mining other than Bitcoin, as their use is constantly evolving with technology. In terms of market value, Ethereum and Ripple were the highest altcoins in February 2020.
Many altcoins are built on the basic framework provided by Bitcoin, so most altcoins are peer-to-peer. They strive to provide an efficient and cost-effective way of doing transactions online. Despite many overlapping properties, altcoins are very different from each other.
List of The Best Altcoins By Market Cap
Ethereum, the first Bitcoin alternative on this list of altcoins by market cap is a distributed software platform. ETH allows you to create and use smart contracts and distributed applications (DApps) without stopping, cheating, controlling, or interfering from third parties.
On Ethereum the applications are run on its platform-specific cryptocurrency token, ether. Like a vehicle, ether moves on around the Ethereum platform and is sought after by most developers who want to develop and use applications in Ethereum, or now by investors who want to buy other cryptocurrencies with ether.
Ethereum was introduced in 2015, and is now the second-largest cryptocurrency in terms of market value after Bitcoins, although it is far behind the dominant cryptocurrency. The market margin on Ether is about 1/10 the size of Bitcoin as of January 2020.
In 2014, Ethereum began pre-selling the ether, which received an amazing response; this helped to guide in the early era of initial coin offerings (ICO). As per Ethereum, it can be used to organize, distribute, protect, and trade almost anything.
After the DAO attack in 2016, Ethereum was divided into Ethereum (ETH) and Ethereum Classic (ETC). As of January 2020, the market cap of Ethereum (ETH) was $15.6 billion. And the value of pre token was $142.54.
Ripple on this list of altcoins by market cap is a real-time international payment network. It offers instant, secure, and cheap international payments. Founded in 2012, Ripple allows banks to make cross-border payments in real-time, with comprehensive transparency and lower fees. The consensus ledger of the Ripple (confirmation method of Ripple) is unique in that it does not need mining.
In fact, all of the XRP tokens are ready means they are pre-mined for release. This means that over time, Ripple will not be produced, only that the XRP will be brought to market and removed from the market according to the network’s instructions. In this way, Ripple differs from bitcoins and many other altcoins.
Because the structure of Ripple does not need mining, it decreases the use of computing power and minimizes network delays. So far, XRP has been successful in its current business model; XRP remains one of the most attractive cryptocurrencies among traditional financial institutions looking to revolutionize cross-border payments.
In terms of overall market capitalization Ripple is the third-largest cryptocurrency in the world. Ripple has a market capitalization of $ 9.2 billion on January 8, 2020, and $ 0.21 as per token value.
Litecoin was launched in 2011. It was one of the first cryptocurrencies to follow in bitcoin’s footsteps, and is often nicknamed “Silver to Bitcoin’s Gold”. A former Google engineer and MIT graduate Charlie Lee created Litecoin.
Litecoin is based on an international open-source payment system that is not controlled by any central authority. LTC uses “encryption” as proof of work which can be decrypted by consumer-level processors.
Although Litecoin is in many ways similar to Bitcoin, it has a higher block generation speed and therefore offers faster transaction confirmation times. Apart from developers, the number of traders who accept Litecoin is continually growing.
Litecoin has a market capitalization of $ 3.0 billion at the beginning of 2020 and $ 46.92 as per token value making Litecoin the sixth largest cryptocurrency in the world.
Tether was one of the earliest and most popular of a group of so-called stablecoins, crypto coins that aim to link their market value to a digital currency or other external benchmarks to reduce volatility.
Since most cryptocurrencies, even the largest ones, such as Bitcoin, experience frequent dramatic fluctuations. Tether and other stablecoins try to smooth out price fluctuations to attract users who should be careful.
Tether was launched in 2014. USDT (Tether) describes itself as a blockchain-based platform designed to ease the digital use of fiat currency. In practice, this cryptocurrency enables individuals to use blockchain and related technologies in traditional currency trading while minimizing the fluctuations and complexities often associated with cryptocurrencies.
In terms of market, capitalization Tether is the fourth largest cryptocurrency having a total market cap of $ 4.6 billion and $ 1.00 as per token value at the start of 2020.
Bitcoin Cash (BCH)
In the history of altcoin, Bitcoin Cash (BCH) occupies an important place, as it is one of the first and successful hard forks of the original Bitcoin. A fork in the cryptocurrency world takes place due to the result of debates and disputes between miners and developers.
Because of the decentralized nature of crypto coins, major changes need to be made due to general consensus on the code underlying the coin or token. The methods of this process vary depending on the particular cryptocurrency.
When different parties fail to agree, sometimes the cryptocurrency is split with the original matches the original code and additional copies start as new versions of the previous currency with the code changes. Bitcoin Cash came into being in 2017 August as a result of one of these divisions.
The debate that guides the creation of the Bitcoin Cash was related to scale-up; the Bitcoin network has strict block size restrictions: one megabyte (1 MB). The Bitcoin Cash increases the size of the block from one megabyte to eight megabytes, with the idea that a larger block will allow faster transaction time.
It also made other changes, including removing the Segregated Witness protocol, which affected the block space. BCH had a market capitalization of $ 4.4 billion in January 2020 and a token value of $ 240.80.
This cryptocurrency is a private, safe, and untraceable currency. Monero an open-ended cryptocurrency was launched in 2014 April and immediately aroused great interest from society and cryptocurrency enthusiasts. The development of this crypto coin relies solely on contributions and society.
Monero was launched with a strong emphasis on decentralization and the flexibility to enable absolute privacy through a special technology called “ring signature”.
This technology displays a group of cryptographic signatures containing at least one actual participant, but because they all appear valid, the originals cannot be isolated. Through unusual security measures like this, Monero has gained a nasty reputation: it has been linked to crime around the world.
Whether this cryptocurrency is used for good or bad things, there is no denying that Monero has made significant technological advancements in the world of cryptocurrencies. Monero had a market capitalization of $ 994.0 million and a token value of $ 57.16 at the beginning of 2020.
This list of altcoins by market cap is framed on the most popular altcoins at present. Altcoins are widely marketed as a powerful alternative to bitcoins because it overcomes what some consider being Bitcoin limitations.
Despite this point of sale, altcoins must still compete with Bitcoins, the most popular and high in value cryptocurrency in the world, and must have a competitive advantage over Bitcoin to succeed.
Many altcoins are based on the basic Bitcoin framework, which gives most of them a very desirable aspect of being peer-to-peer. Besides, like Bitcoin, they aim to provide a cheap and effective trading tool.
From the beginning of 2020, there were more than 5,000 different cryptocurrencies on the market. And 34% of the total digital currency market according to CoinMarketCap, was accounted for altcoins.