In recent years we have been hearing about cryptocurrencies. Cryptocurrencies are cryptography-based digital currencies for secure transaction management. These currencies operate without the need for a central control authority, such as a central bank or government.
Their core function is based on a technological model called blockchain. Blockchain is a chain of data stored in blocks, which is connected and verified using cryptography. Every new transaction added to the blockchain is verified by a network of users, without the need for intermediaries.
Cryptocurrencies can be used for a variety of purposes such as the exchange of goods and services, investment use, decentralised financial applications and many others.
Clearly, we are not urging anyone to invest. But we ask: Of the top five cryptos in capitalization and popularity, which do you think is better?
Which do you think is the best cryptocurrency?
The cryptos of the poll
1. Bitcoin
Bitcoin is the first and most well-known cryptocurrency. It was created in 2009 by a person known under the pseudonym Satoshi Nakamoto. Bitcoin has a limited number of currencies, with a maximum of 21 million. It is characterized by the anonymity of transactions and its decentralized nature, without a central control authority.
2. Ethereum
Ethereum is a blockchain platform and a cryptocurrency created in 2015 by Vitalik Buterin. The central feature of Ethereum is the possibility of creating smart contracts and decentralised applications (DApps), which operate autonomously without the need for intermediate entities.
Ethereum also plans to switch from the Proof of Work algorithm to Proof of Stake with Ethereum 2.0.
3. BNB (Binance Coin)
Binance Coin (BNB) is a cryptocurrency created by Binance, one of the largest and most popular cryptocurrency exchanges in the world. While originally operating currency for the Binance Exchange has become a multi-functional cryptocurrency.
BNB is used to pay the trading fees to Binance, as well as for various other uses within the Binance ecosystem. BNB has also been used to perform Initial Coin Offerings (ICOs) and other cryptocurrency proposals.
4. Solana
Solana is an open-source blockchain platform designed to create and operate decentralized applications (DApps) and digital markets. It was launched in 2020 and has experienced rapid growth and popularity due to its ability to manage large volumes of transactions.
Solana uses a new consensus algorithm called Proof of History (PoH) to achieve fast trading and low-end speeds. In addition, the cryptos community uses Solana to develop decentralised financial applications, NFT market and other DApps.
5. Cardano
Cardano is a blockchain platform and cryptocurrency that aims to improve performance and security in relation to other cryptocurrencies. It was started in 2017 by Ethereum founder Charles Hoskinson and the IOHK (Input Output Hong Kong) team.
Cardano’s blockchain features the Ouroboros protocol, a type of Proof of Stake that allows all owners to participate in the operation of the network.
