With over 2000 cryptocurrencies available, it’s hard to know which have a future and which are destined for the dustbin of history. In this article, I explain why the current top 10 altcoins are so popular.Ethereum
Ethereum was created in 2015 and has been incredibly popular for two reasons: 1) the smart contract technology; 2) the tools it offers to help developers build decentralized applications on its network. The use cases for Ethereum are also significant (banking and financial service contracts, ICOS, prediction markets, replacing escrow, identity management). Ethereum transaction time is fast compared to Bitcoin (6 minutes for Ethereum compared to approximately 78 minutes for Bitcoin), and for the past three years, several new coins have tried and failed to “kill” ETH.
Note: In 2017, Ethereum hype was at its peak and people started to wonder if it was going to overtake Bitcoin. This was dubbed “the flippening”. However, for now, it seems people have given up hope that the flippening will happen.Ripple
Ripple has the third-largest market cap after Bitcoin and Ethereum. Many consider it a safe investment because it has never held an ICO and, therefore, is safe from the SEC ever declaring it a security. Many also like how Ripple is oriented to large institutions instead of individual users. Ripple offers a financial settlement service for banks that allows them to transact directly and instantly across national borders. It has already partnered with large financial institutions around the world and more are moving to adopt the Ripple protocol. However, there continues to be a debate when it comes to Ripple as it isn’t aiming for the decentralization, which is a central value for many blockchain enthusiasts.Bitcoin Cash
Bitcoin Cash was created in August 2017 as a result of a Bitcoin fork. People holding Bitcoin at the time got Bitcoin Cash at a ratio of 1:1. Since then, Bitcoin Cash ha...