Bitcoin (BTC) – There is only one palace to begin, and this is with Bitcoin, which is the original cryptocurrency. It was created back in 2009 and it runs on a blockchain, which is a public ledger that will keep track of transactions utilizing an entire network of computers. Every transaction has to be verified with proof of work, making sure that it is secure. If you have never heard of proof of work before, it means that cryptographic puzzles need to be solved by Bitcoin miners.
Ethereum (ETH) – Next, we have Ethereum, which is also on the blockchain. It has amazing applications that include NFTs and smart contracts. It is a crypto that can be used to pay for these contracts, and you can also use it for purchasing NFTs as well. An NFT is a digital asset whereby ownership is issued as a token that is verified on the blockchain between April of 2017 and today. Since then, the price has gone from $11 to several thousand.
Avalanche (AVAX) – Now, we are going to move onto one of the newer options when it comes to cryptocurrency, and this is Avalanche. This is one of the newer cryptocurrencies available. It is a layer-one blockchain, which is designed to make the system more scalable. It was founded initially to be a competitor to Ethereum, yet it functions in a different manner. On Ethereum, every transaction must be validated by the node. However, there are three blockchains on Avalanche that can validate every transaction independently.
Cardano (ADA) – Unlike Bitcoin, Cardano uses proof-of-stake validation, which makes the process a lot quicker. Less energy is also required, which makes this more of an eco-friendly approach. The competitive processes that are used by Bitcoin are not a part of Cardano, which makes the process a lot simpler. Cardano works in a manner that is more similar to Ethereum, powering decentralized applications and smart contracts. Since 2017, it has seen gains of approximately 6600 percent.
Binance Coin (BNB) – Last but not least, we have Binance coin, which is the cryptocurrency that is used on Binance. This coin was established so that people could make payments and get discounts on trades. It is utilized for transactions on the exchange and it can be used for paying your fees. You can also trade it with other types of crypto as well. Back in 2017, it was valued at $0.10 per coin, yet this has exceeded the $500 mark today
