Top 10 Cryptocurrencies and How They Work

1. Bitcoin (BTC)

Bitcoin is the first cryptocurrency that was invented. Its origin dates back to a
white paper published in 2008 and it remains the most well-known type of
cryptocurrency. It runs on its own blockchain with verified transactions (and new
bitcoins created, up to a certain hard cap) by an army of decentralized miners. As
of January 2022, Bitcoin was the cryptocurrency with the largest market
capitalization at $896 billion.

2. Ether (ETH)

Ether is the cryptocurrency based on the Ethereum blockchain. Like Bitcoin, Ether
uses its own blockchain. On the other hand, unlike Bitcoin, Ether is not capped.
Which means that in theory an unlimited number of coins can be created. Ethereum
also allows the creation of smart contracts, i.e. programs that reside on the
Ethereum blockchain and that are executed automatically when certain conditions are
met.

3. Binance Coin (BNB)

Binance Coin is native to Binance, the largest cryptocurrency exchange in the

world as of 2022. Transaction fees for this exchange are discounted for users who
pay in BNB. This has encouraged the adoption of Binance Coin, which has become one
of the biggest cryptocurrencies on the market. To ensure stability in value,
Binance destroys or "burns" a fixed percentage of coins in circulation.

4.Tether (USDT)

Tether is a type of stablecoin (stable cryptocurrency), designed to counteract the

issue of price volatility by being pegged to an external asset. Each coin is
indeed backed by an equivalent amount in US dollars, which allows it to avoid the
price fluctuations that other cryptocurrencies suffer. Even so, there is some
disagreement regarding its actual backing to the dollar.

5. Solana (SOL)

SOL is the native coin of the Solana platform, which is blockchain-based, just
like Ethereum or Bitcoin. Solana's network can execute an impressive 50,000 trades
per second, which makes this platform particularly attractive to investors looking
to trade quickly.

6.XRP (XRP)

XRP, which uses the Ripple network, has been described as the "cryptocurrency for
banks" because it was tailor-made to meet the needs of the financial services
industry. Designed to facilitate international payments, XRP acts as a bridge
between different currencies to offer cheaper and faster transfers around the
world.

7. Cardano (ADA)

ADA is the native coin of the Cardano blockchain. Ada is a so-called "third
generation" cryptocurrency. Cardano splits its blockchain into two layers to
increase transaction speed, and it implements native tokens to ensure a better
experience for ADA crypto holders.

8. USD Coin (USDC)

 Like Tether, USD Coin is a stablecoin pegged to the US dollar, which cannot be
mined. Unlike Tether, on the other hand, USD Coin benefits from more transparent
funds and better auditing processes. The goal is to eliminate some of the risks
associated with cryptocurrencies. Indeed, users should always be able to withdraw
their coins and receive the corresponding amount in the chosen currency.