Bitcoin has been a pioneer and trailblazer of the new era of the digital economy, introducing an influx of digital currencies based on a decentralized shared system. It has paved a way for cryptographic forms of money, spurring the creation of supporters and side projects. They are alternative coins, thus the name “ALTCOINS”. As the term “altcoins: means all cryptocurrencies which are not Bitcoin, there are hundreds of altcoins. Many of them are worthless, many of them may be a good crypto investment.
What will be the most successful and prominent altcoins for crypto trading in 2020? Which of them are most suitable for the crypto trader? Which of altcoins have the biggest potential in 2020? Let us go through top altcoins.
1. Ethereum (ETH)
A decentralized software platform that enables Smart Contracts and Decentralized Applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party. The applications on Ethereum are run on its platform-specific cryptographic token, Ether. Ether is like a vehicle for moving around on the Ethereum platform and is sought by mostly developers looking to develop and run applications inside Ethereum, or now by investors looking to make purchases of other digital currencies using Ether. Ether, launched in 2015, is currently the second-largest digital currency by market cap after Bitcoin.
A decentralized programming platform that empowers Smart Contracts and Decentralized Applications (DApps) to be manufactured and run with no downtime, scam, control, or impedance from an outsider. The applications on Ethereum are run on using its specific token, Ether. Ether resembles a key to open all doors on the Ethereum platform and is looked for by designers hoping to create and run applications inside Ethereum. Ether started in 2015, is as of now the second-biggest cryptocurrency by market capitalization right after Bitcoin.
In 2014, Ethereum introduced a pre-sale for Ether which got a staggering reaction; this assisted with introducing the age of the Initial Coin Offering (ICO).
ETH current price and market capitalization (Jan. 29th, 2020) – $176.53/$19.27 billion.
2. Ripple (XRP)
A real-time worldwide payment system that offers fatt, safe and almost no-fee transactions. Propelled in 2012, Ripple “empowers banks to settle different payments progressively, with start to finish transparency, and at lower costs.” Ripple’s protocol is special in that it doesn’t require mining. All of Ripple’s XRP tokens were “pre-mined” before dispatch, implying that there is no “creation” of XRP after some time, just the presentation and expulsion of XRP from the market supply as per the system’s rules. Along these lines, Ripple separates itself from Bitcoin and numerous different altcoins. Since Ripple’s structure doesn’t require mining, it diminishes the use of processing power and limits network latency
Up until this point, Ripple has seen success with its present plan of action; it stays one of the most alluring advanced cryptos among conventional money related foundations searching for approaches to change cross-border payments. It is right now the third-biggest cryptocurrency in the market.
XRP current price and market capitalization (Jan. 29th, 2020) – $0.235/$10.33 billion.
3. Litecoin (LTC)
Litecoin, launched in 2011, was among the first cryptocurrencies to follow in the footsteps of bitcoin and has often been referred to as “silver to Bitcoin’s gold.” It was created by Charlie Lee, an MIT graduate, and former Google engineer. Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses “script” as a proof of work, which can be decoded with the help of CPUs of consumer-grade. Although Litecoin is like bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation time. Other than developers, there are a growing number of merchants who accept Litecoin.
LTC current price and market capitalization (Jan. 23th, 2020) – $60,18/$3.84 billion.
4. DigitalBits – XDB
Well, that may come as a shocker to you but we would not be doing it without a profound reason. Meet The DigitalBits Blockchain – a blockchain for brands.
DigitalBits is a protocol layer blockchain built to support consumer digital assets. With a focus on enabling mainstream crypto adoption, DigitalBits aims to solve a real-world problem utilizing branded cryptocurrencies. And what is that? A branded cryptocurrency facilitates a unique opportunity to enhance interactions and transfer of value between the brand and the consumer. The growing trend of D2C marketing has placed pressure on large brands to adapt to increased competition. Branded cryptocurrencies are designed to support heightened levels of consumer engagement, market intelligence, and overall value that people can spend every day.
In other words, DigitalBits is a fork of Stellar and a blockchain startup, which will see the launch of XDB Labs supporting custodial and wallet storage for digital assets on the DigitalBits blockchain. The aim of XDB Labs is to deliver a simple and secure cryptocurrency wallet solution that is suitable for consumers and enterprises. XDB Labs’ initial project, XDB Wallet, will act as a solution to hold crypto assets on the DigitalBits blockchain
The DigitalBits blockchain is hoping to create a marketplace where consumers can store and trade crypto assets such as loyalty points.
We have a strong fundamental belief that this project will be one of those that will make the most progress in 2020, both profit-wise but also crypto adoption-wise.
This is a hidden gem, a project with huge profit potential. We at 4C-Trading provide our investors with sophisticated Fundamental Analysis here, the results of which speak for itself.
Current XDB price and market cap (Jan. 29th, 2020): 0.016078/3 094 mln USD – very low!
5. Bitcoin Cash (BCH)
Bitcoin Cash (BCH) holds a significant spot in the history of altcoins and it is a very special one, namely, it was one of the best hard forks of the first Bitcoin (August 2017). In the digital currency world, a fork happens as the aftermath of discussions and arguments among developers and miners. At the point when various groups can’t reach a consensus, it gets split with one group staying consistent with its unique code and the other one starting life as another adaptation of the original code.
BCH started its life in August of 2017 as a fork of Bitcoin. The discussion which prompted the formation of BCH was focused on scalability; the original Bitcoin has a severe point of confinement on the size of blocks: 1 MB only. BCH expands the block size from 1 MB to 8 MB, with the thought being that bigger blocks will provide faster transaction times.. It additionally rolls out different improvements, as well, including the evacuation of the Segregated Witness protocol which effects block space.
Interesting thing is, that with the creation of this fork, all people behind it became filthy rich in seconds…
BCH current price and market capitalization (Jan. 29th, 2020) – $384,97/$7,20 billion.
Those were the forts five top altcoins on our list that try to follow Bitcoin’s suit. There are more to come in the second episode. You will find out what top altcoins are and what those altcoins potential is, either for a new crypto trader or an experienced crypto investor.
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