Just like a Top 40 music station, here are the top 40 performing coins (as of the day I'm writing this. I'll come back periodically and update!)
Bitcoin (BTC) -The most popular cryptocurrency, launched in 2009 by an anonymous group or individual called Satoshi Nakamoto. It’s is a decentralized cryptocurrency, traded on a digital marketplace and priced against the USD. The first transaction to have taken place was in 2010, trading 10,000 Bitcoins for two pizzas. Those would now be two very expensive pizzas! The software known as Blockchain ensures that transactions are not recorded twice and logs all the ones made. To further control transactions when sending and receiving, everyone has a public key which can be shared and their own version, a private key. There is a limited amount of coins, 21 million, but not all have been released so new ones can enter into circulation after being 'mined', a process of solving complex puzzles and the first individual to do so, will receive bitcoins. This is a key factor in determining its value, along with the demand which is affected by the rate at which new coins are released and the possibilities to use them as currency. The event of Bitcoin halving which happens roughly every 4 years, halves the rewards received every 10 minutes from mining. This slows down the supply and will drive up the price. So if you want to do it, do it now or your electricity bill will be more expensive than the value of the Bitcoins you mine.
Ethereum (ETH)- Known as an 'altcoin' (all cryptocurrencies that are not Bitcoin), it is the second biggest cryptocurrency after Bitcoin and is a decentralized computing platform with smart contract functionality. Smart contacts enable applications such as stablecoins (designed to limit fluctuations by pegging to dollar). They are stored on a blockchain and run using 'if/then…' conditions. It was publicly launched in 2015 and has since gone through major upgrades. It can use Ether (cryptocurrency of platform) to pay transaction fees. It reached the highest value in December of 2021.
BNB (Binance Coin)- A digital asset which can be used to receive a discount if used to pay on Binance exchange. It can cover transaction costs on the Chain and Smart Chain of the company, and contribute to the Academy and Trust Wallet. The goal is to use blockchain technology to modernize the world of finance. It used to be a token on the Ethereum blockchain then separated and is secured by a BFT mechanism. The tokens' supply is reduced through the elimination of those used on the platform to pay for fees and quarterly. This 'burning' mechanism is used to ensure the supply is controlled.
Solana (SOL) -Solana is a blockchain whose purpose, use cases, and capabilities rival (and possibly exceed) that of Ethereum. Some call it the Ethereum Killer. Dun dun dun. It is one of the more popular blockchains, and its token, SOL, commands a decent share of the cryptocurrency market. Solana is the native coin to Solana, much in the same way as ETH is the native coin to Ethereum. You can buy Sol on other exchanges, but it has special value if purchased on Solana. Solana has made improvements to the earlier crypto systems, it is much faster and has smaller transaction fees. Its design uses algorithms to remove performance bottlenecks caused by blockchain software. This makes it scalable, secure, and decentralized. Its blockchain operates on both a proof-of-history (PoH) and proof-of-stake (PoS)consensus model. PoS permits validators (those who validate transactions added to the blockchain ledger) to verify transactions based on how many coins or tokens they hold; PoH allows those transactions to be timestamped and verified very quickly. Like Bitcoin’s Satoshis, SOLs are available in fractional amounts called lamports; a lamport has a value of 0.000000001 SOL. Lamports are named after Solana's biggest technical influence, Leslie Lamport, a computer scientist best known for his work in distributed systems. But unlike Bitcoin, there is an unlimited supply of SOLs.
USD Coin (USDC)-The first stablecoin on this list! Huzzah! As you may know, a stablecoin is a token that is backed by a reserve asset, like the dollar or yen or euros. You get it. Anyway, one USD token is as closely pinned to one US dollar as possible, so this coin tends to avoid the volatility of other crypto currencies. For each USDC in circulation, there is one dollar held in reserve. Purchasing USD coins is sort of hedging your crypto bets by helping to balance your portfolio, but it won’t get the sort of asymmetrical returns you might get with other coins. The price doesn’t fluctuate like other coins, and is compatible with a number of blockchains, like Ethereum, Algorand, Solana, Stellar and TRON. It’s not entirely risk free, of course. Something kind of cute is that you can buy parts of USD coins up to .001, which is one tenth of a penny.
XRP (XRP) -XRP is the native currency on the XRP Ledger, created by Ripple Labs in 2012, aiming to be both faster and more energy efficient. The XRP Ledger is a public and transparent decentralized blockchain. It does not use the common proof-of-stake or proof-of-work consensus protocol to validate transactions but instead, uses one that relies on a unique node list (UNL). This mechanism uses validators, anyone can operate as one, to decide on the order of transactions. Since no participant can decide for themselves, it ensures that no mistakes are made. XRP is used for real-time payment systems and cross-border payments with low transaction costs. Unlike with banks that it may take a couple of days to process the transaction, XRP only takes seconds, making it much more efficient. The network already provides DeFi applications and soon also NFTs will be available. XRP cannot be mined like Bitcoin or Ethereum so users have to mine BTC or ETH tokens and then exchange them for XRP.
Dogecoin (DOGE)- This coin was created initially as a bit of a joke about crypto, satirizing the craze around cryptocurrency. It marketed itself as a “fun” version of Bitcoin, and its symbol is an adorable Shibu Inu dog. It’s an an open-source peer-to-peer cryptocurrency established in 2013 by Jackson Palmer and Billy Markus. Palmer and Markus launched the coin on Dec. 6, 2013. By Dec. 19, the value of Dogecoin jumped 300%, bolstered by China's policy to forbid its banks from investing in cryptocurrency. It continues to be a very popular coin. You can spend your Dogecoin with any merchant that chooses to accept it. Many different types of businesses accept DOGE including AMC and the Dallas Mavericks. Many Dogecoin holders use their DOGE to tip content creators on Reddit and other social media platforms. Doge has an unlimited supply and can be mined solo or with a group.
Toncoin (TON)- Toncoin is the native coin of the layer-1 decentralized blockchain The Open Network (TON). Initially, Telegram was the one working on the project and the cryptocurrency was called Gram but a couple years later they left it . It has a circulating supply of 3.47B tokens and a maximum supply of 5B TON. You can use it to pay transaction processing fees and cross-chain transaction fees. The tokens can also be used as a staking payment to secure the blockchain or to pay for data storage. You also need Toncoin to build decentralized applications (dApps). The network uses a proof-of-stake (PoS) consensus mechanism that allows it to quickly process many transactions every second safely and securely.
Cardano (ADA)- ADA is named for a woman, so we love that. Augusta Ada King is known as the first computer programmer, and she also happened to be Lord Byron’s daughter. Whoa. And she was also a Countess, but nobility is strange, as was this woman’s life. Seriously, you must look her up her immediately. Anyway, Cardano was developed as an alternative to Ethereum. In fact, its designer was at Ethereum until a disagreement about its direction caused him to leave. Cardano is a Proof of Stake blockchain, rather than a Proof of Work one, and it contends that it is more secure and more scalable than previous blockchains. Cardano differentiates itself from many other cryptocurrencies by focusing on scientific research and working together with universities. Its stated goal is “to redistribute power from unaccountable structures to the margins – to individuals – and be an enabling force for positive change and progress.”
Avalanche (AVAX)- Avalanche (AVAX) is a cryptocurrency and blockchain platform that rivals Ethereum. It is an open-source project, so anyone can view and contribute to the code. AVAX is the native token of the Avalanche blockchain, which—like Ethereum—uses smart contracts to support various blockchain projects. Avalanche initially claimed that it was much faster than Ethereum, but that has yet to be proven. Its structure is much different, as it consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases. The cap of AVAX is capped at 720 million coins and AVAX users determine how many new coins are introduced, which is cool.
Shiba Inu (SHIB) -Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi claims that he is a nobody and that the efforts to unmask his identity, would be underwhelming, if successful. The lady doth protest too much, hm? Anyway, SHIB is a “meme coin”, and is widely considered an alternative to Dogecoin and is touted as "the Dogecoin killer" by its supporters, a community calling itself the SHIBArmy. The SHIBArmy members were charmed by its mascot of the Shiba Inu, which is a Japanese hunting dog. CUTE. The guiding tenets of the Shiba Inu ecosystem are spelled out in a "woof paper" (presumably a play on the term "white paper"), available at the ShibaToken.com website. I mean, the whole thing is adorable. According to the paper, Shiba Inu was developed to answer a simple question: "What would happen if a cryptocurrency project was 100% run by its community?" According to Ryoshi, the power of collective decentralization can build something stronger than a centralized team ever could create. He designed it, and then, true to his word….walked away. The experiment was almost immediately successful. In January 2023, the Shiba Inu community leadership introduced Shibarium, a layer-two blockchain designed to run on top of Ethereum. It is supposed to reduce congestion, introduce staking into its ecosystem, lower gas fees, and provide a framework for decentralized applications and Web 3 expansion. The SHIBA INU website notes that they locked 50% of the total token supply on Uniswap, and "threw away the keys!" The remaining 50% was "burned to Vitalik Buterin." In response to the "gift" from the Shiba Inu team, Vitalik Buterin sent 50 trillion SHIB tokens, worth $1 billion in Shiba Inu price at that time, to India's Covid Crypto Relief Fund. Buterin then
burned 40% of the total supply to a dead wallet.
Polkadot (DOT)- As the name suggests, it operates similarly to a polkadot pattern but with the aim of connecting all the dots in the pattern, each one representing blockchains. It is an open-source mechanism protocol known as layer-0 which attempts to connect private and public chains to share information and transactions. DOT is the native token of Polkadot and is used in staking, facilitating network governance and connecting parachains. And if you know TikTok you have to keep an eye on this one since a potential buyer wants to decentralize it and make it rely on Polkadot parachain.
TRON (TRX)- This decentralized blockchain platform was created with the purpose of providing an alternative to Ethereum. It runs on a delegated PoS algorithm and is much faster than Ethereum reaching 2000 transactions per second and 3 blocks per second. Similarly to other platforms, it supports smart contracts and dApps. The cryptocurrency running on TRON blockchain is the TRX or Tronix. TRON has block producers which users can vote for and the compensations received will also be distributed to those who voted, so choose carefully! Content creators can also generate coins for their own applications. This gives them the opportunity to connect with their audience. TRX tokens used to be on the Ethereum platform but are now their own network. The main purpose is to give content creators full ownership rights for their content but also to remove transaction fees to be able to easily reach their audience. More good news, well, for some, TRON's recent project is getting the application created on the blockchain available on Samsung Galaxy store, sorry Apple users.
Chainlink (LINK)- Chainlink is a blockchain project designed to connect different networks and protocols together through oracles. Oracles are networking tools that allow cross-network communication. The project's goal is to provide support for all blockchains, facilitating data movement globally between blockchains. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. During the initial coin offering (ICO) for LINK in September 2017, Chainlink announced a total and maximum supply of 1,000,000,000 LINK tokens, and is used to incentivize Chainlink node operators rather than being designed for everyday purchases. These network participants, tasked with securely transferring data to and from blockchains, are paid in LINK.
Bitcoin Cash (BCH)- BCH was created to be an alternative to Bitcoin. An “altcoin”, if you will. It forked from Bitcoin in 2017, and was created to speed up transaction times and maintain a position as a payment method. The designers felt that Bitcoin was not living up to its raison d’etre, and there were disagreements on how to address. So they created BCH, because, in their view, Bitcoin had become more of an investment instrument than a payment system. It was designed as a peer-to-peer payment system that removes regulatory authorities and other third parties from financial transactions, but it had become something else. Hence, BCH. Due to its larger block size, Bitcoin Cash (BCH) works faster and has lower transaction fees. Furthermore, Bitcoin Cash supports smart contracts and ecosystem apps. With a limited total supply of 21 million coins, Bitcoin Cash is provably scarce and, like physical cash, can be easily spent. Transactions are fast, with fees typically less than a tenth of a cent. BCH can be mined on personal computers with dedicated GPUs, but this approach has some caveats. Similar to Bitcoin and other minable cryptocurrencies, Bitcoin Cash mining is dominated by large mining firms and pools. Pools increase your chances of receiving a block reward, although the rewards are shared with the pool. Depending on the pool's size and the work contributions of other members, your shares could be pretty small.
NEAR Protocol (NEAR)- Near Protocol is a layer-1 blockchain that aims to increase transaction speed and overall throughput. Since the networks can process a high number of transactions per second, it allows for the development of large decentralized applications (dApps) and DeFi applications like stablecoins. One of the projects developed on the platform is Mintbase which is a platform that mints NFTs. The process of minting converts digital data into crypto collections which are then recorded on the blockchain. It operates using a 'doomslug' consensus mechanism which is a modification of the proof-of-stake (PoS). This method of generating blocks ensures fast finality and security for the network. On NEAR Protocol the native currency is NEAR. The tokens can be used for processing transactions and storing data. The holders of the token can also choose to participate in the governance votes to determine resource allocation. It is currently reaching the maximum supply of tokens, 1.18B, with the circulating supply of 1.08B.
Polygon (MATIC)- Polygon is an Ethereum token which aims to make transactions cheaper and faster using proof-of-stake (PoS) algorithms. Through staking, users can receive rewards. MATIC is the token of Polygon used to pay for the transactions. Basically how exchanges work with this token is by depositing Ethereum tokens to a Polygon smart contract. Then, these can be used within Polygon and when you want to withdraw them it will be done through the Ethereum main chain. So you can choose if you want to purchase a token or exchange between Ethereum and Polygon. Being a flexible platform with high speed and low fees, Polygon can be used for a variety of dApps, payment systems and trading.
Litecoin (LTC)- This coin is a little different to all the others, yes, it wanted to be special. It uses a different cryptographic algorithm to Bitcoin and has a different validation process which considers the efficiency and energy consumption behind it. Finally, one who actually cares about the planet rather than just getting attention! Litecoin was one of the first altcoins out there and as the name suggests, it is a 'lite' version of Bitcoin, created as a fork. It uses the PoW algorithm to quickly confirm transactions, making it secure and efficient. Litecoin has also been an ideal alternative to Bitcoin in developing countries since it has much lower costs and is also accepted worldwide by merchants and stores. So do not panic next time you go shopping because even Ralph Lauren will take your Litecoin. Unfortunately, the supply is fixed to 84 million LTC. Compared to bitcoin there are far fewer miners but the process is also faster and apparently easier because of the algorithm Scrypt. In fact, to mine a new block it takes miners only 2.5 minutes compared to the 10 minutes on Bitcoin. This also makes it an attractive feature for those looking into DeFi activities. Not only this, the ability to build dApps, allows to further expand the possibilities of DeFi.
Internet Computer (ICP)- Internet computer is a decentralised cloud which allows contributors to participate in the research and maintenance of the code. It is divided into subnets which power a number of canisters and are powered by a number of nodes. Users can interact with the canister and these can create a variety of applications. If you are familiar with a smart contract, a canister is similar but can do some more things. ICP is a utility token that allows users to govern the blockchain network. The token is also used to pay the transaction fees and can be received as a reward from staking. The Chain Key technology used by ICP aims to facilitate acquisition of tokens. On the network, you create websites, IT systems, internet services and DeFi applications. The idea behind this project is to get users from all over the world to work together to create a cloud service which could power most of the internet we are using today. This is to avoid having a centralized system with the information stored under a single entity. It will also reduce the risk of a data break and increase the security.
Uniswap (UNI)- Uniswap is a decentralized cryptocurrency. Blockchain is hosted on the Ethereum platform but UNI (the token) holders govern it. Unlike other cryptocurrencies, this one doesn’t rely on sellers and buyer to determine the price but instead used an algorithm. This allows for token swaps at all price ranges and without running out of resources. Users can choose to vote on protocol changes getting them more involved. Also, they can be rewarded by supplying tokens to the liquidity pool. The platform allows for an easy way to trade an ERC20 token for another. In fact, there are 100s of tokens available. Some of the most popular traded pair are stablecoins (cryptocurrency pegged to another asset like a fiat currency or gold which maintains a stable price) like USDC and WBTC. It is a safe platform and accessible to everyone. It charges lower fees compared to other trading platforms making it an ideal choice to many.
UNUS SED LEO (LEO) - UNUS SED LEO was launched in 2019 and registered in the British Virgin Islands as a subsidiary of iFinex. LEO is a utility token used on the iFinex ecosystem which operates cryptocurrency exchanges like Bitfinex, Ethfinex and Tether. Bitfinex is one of the longest running and most liquid major crypto exchange and a go-to platform for trader. Token holders can receive reduced transaction fees and discounts if they use it on iFinex platforms. The name UNUS SED LEO sounds a bit strange but it actually derives from Latin and it means ‘one, but a lion’ and it is a reference to Aesop's fable. Now, going back to LEO, the maximum supply is close to 1,000,000,000 LEO tokens which were launched on two blockchains. The majority was issued on Ethereum but slightly over a third of it was found on EOS. 27% of gross revenue generate in the previous month of LEO tokens are burned or bought back by iFinex. This deflates the supply of the token over time.
Dai (DAI)- Created in 2017, DAI is a stablecoin pegged to the US dollar and was launched on the Ethereum blockchain. Users generate Dai by depositing crypto-assets into Maker Vaults on the Maker Protocol. They can access Maker Protocol and create Vaults through Oasis Borrow or other interfaces built by the community. One such kind of asset are stablecoins, of which DAI is one example. These are cryptocurrencies whose price is pegged to assets with a relatively stable value — most commonly traditional fiat currencies, such as USD or EUR.A key advantage of DAI is the fact that it is managed not by a private company, but rather by a decentralized autonomous organization via a software protocol. As a result, all instances of issuance and burning of tokens are managed and publicly recorded by Ethereum-powered self-enforcing smart-contracts, making the entire system more transparent and less prone to corruption. In addition, the process of developing DAI software is governed in a more democratic way — via direct voting by the regular participants of the token’s ecosystem.
Ethereum Classic (ETC) -Be careful because this is NOT Ethereum ETH! They used to be one but in 2016, the network experienced a fork as a result of disagreements about how to address the hack that had taken place. Significant changes to the protocol were made and part of the team decided to upgrade to the new version of Ethereum while others decided to stay on on the old chain which later became Ethereum Classic, its own decentralized blockchain network. The main focus is immutability and it mainly functions as a smart contract network to support dApps. Unlike Ethereum, this one operates on a proof-of-work (PoW) mining algorithm and it can run a variety of applications. ETC is the native unit used to pay fees and can be received as a reward when mined. To maintain a consistent production rate of blocks, the difficulty of the mining process is altered. So, as more users join the network to mine, it becomes increasingly more difficult to resolve the puzzles. However, the process is not very profitable unless you use ASIC, a specialised device. There is a maximum supply of 210,700,000 coins and ETC has struggled to compete in market capitalization. Ethereum Classic has been subject to attacks in which users were in control of a large part of the mining power and could spend coins they did not own.
Pepe (PEPE)- Pepe operate on Ethereum's blockchain and is a meme coin. The story behind this project goes back almost 20 years. You may recall Pepe the Frog… well it has more recently regained popularity so they thought why not turn it into a meme coin. It is different to other ones because it has a no-tax policy and because the character has quite some history. Although the primary use is to acquire and exchange PEPE, users are encourage to hold on to them which promotes stability. This occurs through a redistribution system which gives long-term stakes, who are committed to the project, a reward. Similarly to other digital assets, the founders are unknown but regardless, PEPE has reached a significant increase in the market cap and built a strong community. The maximum supply is more than 420 trillion tokens. So do not worry, there are plenty of tokens for everyone.
Render (RNDR)- This is THE coin for artists. Render allows users to render 3D designs through a distributed network, and is built of the Ethereum blockchain. The RNDR token is used to pay for the service. tilizing the inherent security properties of the Ethereum blockchain, proprietary assets are hashed upon upload and sent to nodes piecemeal for rendering. All RNDR payments are stored in escrow during rendering, and are released to node operators upon manual verification by the commissioning artist of successful work. To prevent malicious actors in both user bases, all assets rendered on the network are watermarked until payment is successfully disbursed, upon which time un-watermarked renderings may be downloaded, and all payment is held in escrow until manually verified as being correctly rendered. Render has some fancy Hollywood people involved: Ari Emanuel, and JJ Abrams (love his Star Trek and his Star Wars movies. Don’t @me.)
Hedera (HBAR) - Hedera is the most popular and sustainable public network for the decentralized economy that allows individuals and businesses to design powerful decentralized applications (DApps). It solves for previous blockchains lack of speed and stability. Its system (called Hasgraph) was built from scratch, rather than as a PoS or PoW consensus mechanism. This technology allows it to improve upon many blockchain-based alternatives in several key areas, including speed, cost, and scalability. Hedera transactions have an average transaction fee of just $0.0001 USD and typically reach finality in under five seconds. Overall, Hedera Hashgraph claims it can handle more than 10,000 transactions per second (TPS) — compared to the around 5-20 for most popular proof-of-work (PoW)-based blockchains. The HBAR token is the native cryptocurrency of Hedera Hashgraph and works in two ways. The first is driving smart contracts, file storage and regular transactions. Secondly, it's used to help secure the network, since HBAR users can stake their tokens to assist with maintaining the integrity of the platform.
Aptos (APT) - APT is the native currency of the Aptos blockchain. It has an initial total supply of 1 billion and its circulating supply is approximately 130 million APT as of June 2024. The distribution is as follows: Community (51.02%); Core Contributors (19.00%); Foundation (16.50%); Investors (13.48%).Under the Community allocation, around 80% are held by the Aptos Foundation and the remaining by Aptos Labs. This will be used to support community growth and Aptos Foundation initiatives, and the remainder will be unlocked monthly over the next ten years. Aptos was created by former Meta developers and recently entered into a collaboration with Microsoft, Brevan Howard and South Korean wireless telecommunications operator SK Telecom to offer institutions a gateway into decentralized finance. The partnership will offer Aptos Ascend, a suite of end-to-end institutional solutions like regulatory requirement help, tools to maintain account and transaction privacy and embedded features for know-your-customer (KYC) checks. Sounds pretty cool to us.
Immutable (IMX)- Immutable is secured by Ethereum and IMX is the token which powers it. It is a layer-2 solution for NFTs which aims to reduce transaction costs when trading while also targeting Ethereum's problems of low scalability. These upgrades would allow users to create and exchange tokens on a large scale. It also gives a chance to the smaller developers who may not be able to afford or enter other platforms. Immutable is trying to revolutionize the world of gaming by giving developers ownership over the in-game assets in the form of an NFT. IMX tokens can be used on the network to pay for the fees and for staking. When staking, users will receive a share which allows them to vote on proposals and protocol changes. Immutable zkEVM operates under Polygon which was designed to solve the scalability problem of Ethereum. This platform is the safest choice for gaming keeping transactions and assets safe while reducing any fees charged (paid with IMX tokens). You can trade tokens and you can build games and receive advice while you do so.
First Digital USD (FDUSD) - As the name suggests, this digital currency is linked to the dollar. It tries to keep a 1:1 peg with the dollar which is reassuring for investors so they don't have to worry about the volatility as much. FDUSD is backed up by cash or equivalent assets and can be exchanged at a ratio of 1:1 for US dollars. All of this is possible by matching the reserve assets to the total quantity of the remaining stablecoins. It can be above, it can be equal, it just cannot be below otherwise FDUSD cannot be redeemed for the nominal value. There are no intermediaries and it is available on Ethereum and BNB Chain. Soon it may support other blockchains. The aim of FDUSD is to be efficient with transactions, offering lower costs while providing more accuracy and better speed. Overall, making it stable and reliable. It was launched by First Digital Labs (Hong Kong based) in 2023 which is a division of First Digital specialized in the development of digital currencies.
Cosmos (ATOM)- Cosmos is a decentralized network that aims to build a connection between blockchains, focusing on the idea of interoperability. The token is ATOM and since Cosmos is a PoS chain, users can stake the tokens and receive more as a reward. By adopting this mechanism, it aims to solve some of the blockchain issues and get passed the limitations faced is using PoW protocols. This will also allow Cosmos to be faster with transactions, getting down to 500ms, and charge lower costs that are near-zero ($0.01). The technology used is simpler, making it easier to connect different blockchains with existing pieces of code. On Cosmos you can find Cosmos SDK (Software Development Kit) which allows users to customize their own appchains, quickly and securely, and even to control smart contracts. CosmWasm (Cosmos WebAssembly) is the smart contract platform available on the Cosmos ecosystem. Another option for users is to become a validator which has to make sure the interchain remains secure.
Filecoin (FIL) - Filecoin is a decentralized network that allows users to store digital information. You might be familiar with Airbnb, an online marketplace which connects people who want to rent out their house/apartment to those who are looking for a place to stay. Filecoin operates in a very similar way except instead of renting out a place to stay, it rents out storage capacity for users. The two parties involved are the clients looking to store or retrieve online data, and the miners who provide the storage space. In return for their service, miners receive rewards in the form of FIL tokens and the more storage they offer, the higher the reward. It is a knowledge intensive platform that doesn't require a middle man or company to function. Filecoin can be used for storing for example personal file, public and private data but also for exchanging or selling data. Lots of data can be stored and for a long period of time. The blockchain that supports the protocol records the transactions made with FIL (the native currency of Filecoin). FIL tokens can also be exchanged for goods and services.
Cronos (CRO)- The Cronos blockchain was developed by Crypto.com to facilitate payments with cryptocurrency. It is a public decentralized blockchain that allows for the development of DeFi applications and hosts several
dApps. It was built on the Ethereum blockchain and uses a Proof-of-Authority (PoA) consensus. There are low transaction fees on the network and it is energy efficient. The goal of Cronos is to increase the use of cryptocurrencies around the world consequently allowing user's information to be protected as well as their identity. Cro is the native currency of Cronos and the coins can be used to pay for the transaction fees but they can also be received as compensation for making transfers and staking. Cronos is compatible with Ethereum Virtual Machine (EVM) built by Cosmos SDK. This allows users to quickly transfer cryptocurrencies, applications and smart contracts to Cronos at lower fees.
Mantle (MNT)- Mantle is a layer-2 technology which aims to scale Ethereum. This means it aims to have a higher transaction speed and lower fees while still ensuring the same level of security and decentralization. Mantle's architecture is a little different to others because it keeps modules separated and not connected which allows them to do individual upgrades where and when needed. On Mantle, dApps can be developed and projects are supported by collaborators. Since it is compatible with Ethereum, only small changes are required in order to use those contracts and tools on Mantle. On the network, users can develop smart contracts and tryout web3 app. There wasn't a single founder of the network. The total supply is over 3.1 billion tokens with only about half of them in circulation. On the Mantle Ecosystem the MNT token is used to pay the fees and keep the ecosystem running. Holders of the token can also choose to vote on decisions regarding the network to keep it community-driven and decentralized. Mantle builds products on Ethereum powered by the MNT tokens.
Stellar (XLM)- In 2014, the Stellar Develop Foundation, a nonprofit foundation, launched Stellar (XLM). The current Stellar is a result of a fork which separated it from the initial Ripple Labs protocol. After changing the technology, XLM cannot be neither mined nor staked. Stellar is an open, decentralized public blockchain network used for payments and exchanges. The goal is to make secure transactions while charging a minimal fee. Essentially what they aim to do enable the free flow of money all over the world and. It is what the internet allowed us to do with information but Stellar would be doing it with money flow. The native currency used on the network is XLM or Lumens and these can be used to pay for the transaction fees and to make operations. It can be used by banks if they have to do a cross-country transfer. For example if a bank in France needs to send money to a bank in Japan they can do so through Stellar. The Euros are be converted to XLM, then the payment will take place on the blockchain and the XLM will be converted once again to yen and received by the Japanese bank. This allows assets to be represented as XLM tokens. The platform encourages users to develop applications and contribute to the ecosystem. Stellar also requires users to have at least 1 token at all time if they wish to remain active on the network.
The Graph (GRT) -The Graph is a worldwide and decentralized indexing protocol which indexes data from Ethereum, IPFS, POA and soon perhaps even other networks. It is like what Google does with the web, The Graph does it with blockchain data from networks. All the data collected is then grouped into APIs (subgraphs) and is available to anyone. Users can also build open APIs and applications can then retrieve the data using GraphQL (a programming language). Developers often use it for dApps, it is easier to get started since there is no need for a facilitator. GRT is the token which allows The Graph to operate and is an ERC-20 token on Ethereum. Indexers can receive a reward from the network for the work they do and in part it is also based on the GRT stake they have. There are also Curators who signal the high quality subgraphs worth indexing and Delegators who delegate their GRT to Indexers. They receive shares of rewards based on a portion of the query fees they signal on (Curators) or the amount the Indexer they appointed received (Delegators).
Optimism (OP)- Optimism is a layer-2 blockchain which aims to scale Ethereum through optimistic rollups. You may have heard of this with other cryptocurrencies. Basically it means that Optimism, which operates on Ethereum, will aim to be faster and have lower transaction fees but still benefit from Ethereum's security. Best of both worlds! Optimism still relies partly on code from Ethereum allowing it to keep things simple. The blocks are built on Optimism while transactions are submitted on Ethereum but these can be challenged within a given timeframe, after that they will be made final. By only submitting compressed data to Ethereum, Optimism can process more transactions per second and its efficiency allows it to reduce the fees for users. OP is the native token of the network and users can receive it as a reward after staking. Holders of the token can also vote for changes in the protocol and system. The maximum supply of OP is over 4.29 billion tokens but the circulating supply is just over 1 billion tokens.
Stacks (STX)- Stack is a blockchain platform that aims to enhance Bitcoin's capabilities by bringing smart contracts and dApps. It uses Clarity, a predictable language, able to ensure the outcome of the contract before it is executed, making it a safe network. Transactions can also be settled on the Bitcoin blockchain and can be used for DeFi applications and NFTs. It operates with a Proof of Transfer (PoX) consensus which allows miners to use their Bitcoins (BTC) to mine STX. It becomes more convenient because with this mechanism, they don't require specialized computers to mine on Stacks. The network also allows for atomic BTC swaps to take place. These are exchanges between cryptocurrencies belonging to different blockchains without the need for an intermediary third party to validate the transaction. The current supple of STX in circulation is 1.46 billion tokens which is getting close to the maximum supply close to 1.82 billion tokens.
Arweave (AR)- Arweave is a web3 protocol similar to Bitcoin but for data. It is a fully decentralized system where users can store data indefinitely like Filecoin. The storage is provided by users who can supply it and to enable this service users need to purchase AR, the native currency, and use it to pay. The miners who store the data can receive compensations in the form of AR tokens. Arweave operates on a ‘blockweave’ instead of a blockchain technology and uses a proof-of-access (PoA) consensus. Blockchain links each new block to the previous one and then creates a new hash but with PoA each new block is linked to both the previous one and a random one before generating the hash, creating a weave of blocks. Developers can create applications on the network and if transaction feees are generated from their application, they will receive a dividend. Currently the circulating supply (65.5 million tokens) is approaching the maximum supply of AR (66 million tokens). If it is reached, no more tokens can be mined or produced unless some are removed from circulation.
OKB (OKB)- OKB was initially found on the Ethereum blockchain but then separated to become its own utility token for the OKX exchange. However, it still runs as an ERC-20 token on Ethereum blockchain. The OKB token is used on the OKX cryptocurrency exchange network to pay for transaction fees and access DeFi services. Based on the amount of tokens users own, they may receive discounts on the fees. On OKX, users can buy and trade Bitcoin (BTC), Ethereum(ETH) and other popular crypto tokens in a safe and secure manner and almost all over the world. The platform is also made up of a variety of applications, wallets, security, social networking and more. Holders of the token have the right to vote for protocol changes and can also receive tokens as a reward if they stake OKB, a process which requires them to hold on to their tokens. Every three months some OKB tokens are burned to maintain a stable value and avoid inflation. Burning tokens involves permanently removing them from circulation by sending them to a wallet that does not have a private key, an inaccessible address. Over time this process and the limited supply of 300 million, has allowed for the OKB token to gain value.
Kaspa (KAS)- Kaspa is a decentralized layer-1 that uses a Proof-of-Work (PoW) consensus and operates with a GhostDAG protocol. This slightly different to a traditional blockchain because blocks are linked to many parent blocks instead of just one making it more complex. Traditional links form simple chains, this forms a BlockDAG and it allows for much faster transaction processing. In fact, Kaspa is one of the fastest layer-1 in the world. It currently operates at on block per second but this number will increase significantly, allowing the network to make DeFi and smart contracts development more attractive. KAS is the native currency of the network and the rate at which the tokens can be created is halved every year (Bitcoin does the 'halving' every four years). The tokens are used to pay for the transaction fees on the network and miners can receive them as a reward for confirming transactions. Kaspa implements a unique monetary policy that geometrically decreases emissions based on the 12-note musical scale and is known as the chromatic phase.
