by Divyanshi Tomar 
Cryptocurrencies are trendsetters in the crypto world. Bitcoin is the most booming of all cryptocurrencies, paving its way towards a more decentralized network of digital currencies. Bitcoin has become the de-facto model for the other cryptocurrencies, inspiring other people and resulting in increasing their followers.
Before knowing about the alternatives of Bitcoin in the crypto industry. First of all, we need to know what is cryptocurrency? In simple terms, cryptocurrency is digital money in the form of coins that you are able to buy via different online transaction methods on the specific exchange platform. The “crypto” word in cryptocurrencies is used to refer to complicated cryptography which includes creation, processing and their transaction across the world. Decentalisation is a special feature of cryptocurrencies.
Bitcoin
Bitcoin the first used digital currency in the crypto market. The currencies introduced after Bitcoin is termed altcoins or the shitcoins. Altcoins are aimed to present the better and improved version of Bitcoin. Some of the altcoins have a better and modified version than the Bitcoins in the context of security and networks.
10 Best Cryptocurrencies in the market
Here is the list of some of the best cryptocurrencies in the market. There is the existence of more than 4000 cryptocurrencies till January 2021. But, the features of some of the cryptocurrencies rea valuable and preferred by investors all over the world. I will discuss the cryptocurrencies that will explode in 2021. This shows that cryptocurrencies are continuously expanding their market. All the other cryptocurrencies are following the list on the basis of market caps. Other than this, there are different reasons to include the digital token in the below-mentioned list.
This article aimed to provide you information on cryptocurrency with real-world applications :
ETHEREUM (ETH)
ETH is the most accepted alternative to bitcoin. Basically, Ethereum is the decentralized platform to run the Ether. Ether acts as the fuel to the Ethereum machine. This decentralized platform enables smart contracts and DApps i.e. Decentralised applications to run with high network security. This platform provides free access to investors regardless of their nationality or ethnicity. In the year 2015, Ether came into the market and fixed its place as the second-largest cryptocurrency after Bitcoin, based on market caps. ETH is high on demand based on the cryptocurrencies prices and cryptocurrencies mining.
In the year 2021, Ethereum plans to change its algorithm from proof-of-work to proof-of-stake. This change enhances the transaction speed and network security. Ethereum is the most followed alternative of bitcoin and provides investors with more bitcoin for processing transactions.
2. LITECOIN (LTC)
In the year 2011, LTC came into existence in the crypto industry. This cryptocurrency is following the footsteps of Bitcoin and considered the best alternative to Bitcoin currency. Litecoin is titled the “silver to Bitcoin’s gold”. Litecoin works on the open-source and global payment network. Litecoin uses “scrypt” as proof of work which is easily decoded. Faster block generation rate with faster transaction confirmation rate makes Litecoin the best alternative to bitcoin. Litecoin expands its market among the investors having a market cap of $10.1 billion as of January 2021. If we talked about technical details, Litecoin is nearly identical to Bitcoin. This is the sixth-largest cryptocurrency in the world. If we look at the cryptocurrencies mining, Litecoin can be easily mined with consumer-grade hardware.
3. POLKADOT (DOT)
DOT works on the proof-of-stake algorithm and aimed to provide a safe and secure interface between other blockchains. This cryptocurrency is designed to work under one roof with permission and permissionless blockchain networks. relay chain is the core component of the Polkadot resulting in the interactive platform for various networks.
Polkadot has a special feature of the shared security. Shared security means the larger number of blockchains leading towards more security. On the Polkadot platform, investors create their own blockchain and enhance their security. This is the benefit of using Polkadots over Ethereum. Polkadot has a market cap value of around $11.2 billion as of January 2021. The Polkadot network allows the exchange of arbitrary data, not just tokens across the blockchains. In simple terms, Polkadot is a scalable, heterogeneous, and multi-chain technology gaining its popularity in the cryptocurrencies future.
4. STELLAR (XLM)
Stellar is an open network for money transactions which makes it easy to create, send and trade digital money including dollars, pesos, bitcoin, and many more. Stellar is the decentralized protocol for a digital currency that allows cross-border transactions between different pairs of currencies. Stellar runs on different programming languages like Javascript, Python, Go, C++, and many more. Investors are able to make large transactions without intermediaries with cost a good deal of money. This enterprise blockchain is easily usable by anyone and performs better for institutional transactions. Lumens (XLM) is the native currency of Stellar allows the investors to do cross-border transactions between any currencies.
Jed McCaleb (founding member of Ripple Labs and developer of the Ripple protocol) is the founder of the Stellar Development Foundation. Stellar Lumens has a market cap of approx $6.1 billion as of January 2021.
5. Bitcoin Cash (BCH)
Bitcoin Cash is the earliest and the most successful hard forks (i.e. related to blockchain technology) of the original Bitcoin. In the cryptocurrency work, the transaction or the wholesale changes into the codes marking the decentralized mechanism which varies in the different cryptocurrencies.
The digital currency splits when the different factions can’t come to an agreement. The original chain remains the same but the new chain begins its life as a new version of the prior coin with the change of its code. Bitcoin Cash is the result of one of the digital currency split in August 2017.
6. Chainlink
Chainlink is the oracle network that acts as the bridge between the smart contracts like Ethereum on the one hand and the data on the other hand. Other blockchains networks do not have the ability to connect safely to the other outside platforms, but the Chainlink provides decentralized, safe, secure, and smart contracts with the outside data. Chainlink network has a special feature of tracking the data with the directly feeding into the smart contracts.
Chainlink gained much more popularity in the year 2021 with a market capitalization of $8.6 billion.
7. Cardano (ADA)
Cardano is developed by the research-based approach by different experts of cryptography, engineers, mathematicians, and many more. Cardano is the “Ouroboros proof-of-stake” cryptocurrency. Cardano is created by the extensive experimentation and peer-reviewed research in blockchain technology. Cardano is titled the “Ethereum Killer” because its blockchain technology is much more reliable and capable. The main aim of Cardano is to provide better financial products and technology by providing solutions to the chain interface, fraud, legal contract trancing, and many more things.
Cardano market capitalization value stands at $ 9.8 billion as of January 2021.
8. Binance Coin (BNB)
Binance Coin aimed to use as the token for getting trade discount. This is the utility currency runs as the payment method in the trading on the Binance Exchange. Binance exchange is the most widely used exchange in the world on the basis of trading volumes. The Binance model is based on the proof-of-stake algorithm. In the starting phase, Binance coin runs on the Etherum platform as the ERC-20 but later on, it launches its own mainnet.
Binance Coin market capitalization is around $6.8 billion as of January 2021.
9. Tether (USDT)
Tether is the most popular cryptocurrency of modern times and also the most popular member of stablecoins. Stablecoins is the new category of cryptocurrency which aimed to provide higher price stability backed by a reserve asset in order to reduce volatility. Tether price is directly promised to the price of the US dollar. The tether system allows the investors to make easy transfers from other cryptocurrencies back to US dollars in a short period of time instead of converting to normal currency.
Tether is launched in the year 2014 and nowadays it is the third-largest cryptocurrency according to market capitalization. As of January 2021, the Tether market cap is around $ 24.4 billion. Tether describes itself as “a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.”
10. Monero (XMR)
Monero is the most secured, private, and untraceable currency. Monero is launched in April 2014 and gained great interest in the crypto community. The main aim of the Monero is decentralization and scalability. Monero uses a ring signature technique to provide complete privacy. This technique provides the Monero with the real participants instead of fraud ones.
Monero’s market cap is around $2.8 billion as of January 2021.
Conclusion
Cryptocurrencies with their decentralization property aimed to provide investors with higher scalability, reduction of volatility, increasing market cap value. These 10 cryptocurrencies list is best to provide you with a higher level of security having multiple blockchain technologies. Feel free to use any above-listed cryptocurrencies other than Bitcoins for cryptocurrency trading.
