Different Cryptos
Most Popular Cryptocurrencies
There are thousands of Cryptocurrencies in the world and new cryptocurrencies come out every day and it is impossible to cover all of them.
Most of the cryptocurrencies are listed on coinmarketcap.com.
ICO
ICO (Initial Coin Offering) is a brand new way to raise funds, instead of IPO (Initial Public Offering) for the traditional Stock Markets, cryptocurrency projects use ICO to raise funds. Investors are given coins for their investment instead of stocks. Almost every crypto project had a ICO.
Bitcoin (BTC)
The first ever cryptocurrency, Bitcoin is considered the most secure cryptocurrency, because the amount of computing power and number of nodes providing the protection is the largest. It has implemented a software update allowing something called SegWit2x which will increase the size of the blocks (the pages in the banking analogy) from 1 to 2MB and allows the creation of “side chains” which free up room on the main blockchain and can add extra functionality such as instant atomic swap between cryptocurrencies and smart contracts.
ICO
There is no ICO for Bitcoin, Satoshi Nakamoto mined the first blocks to get the Bitcoin blockchain started, then other crypto enthusiast joined in after him/she/they.
Supporting Organizations and Partnerships
There is no official supporting company or partnership, although many organizations are working to improve Bitcoin blockchain such as Blockstream, Twitter and many others.
Consensus Method: Proof of Work (PoW)
Programming Language: Mostly in C++
Use Case: Currency and Store of Value
Advantages
First mover advantage
Largest network effects
Disadvantages
Disagreements between miners may cause instability
Government may enforce regulations
The transaction backlog has been growing
Ethereum (ETH)
Ethereum’s rise came about because of the hype of Smart Contracts. It had a very large amount of ICOs on its platform and a lot of interest from the developer community. It aims to be a platform on top of which Dapps and Smart Contracts can be written. It uses its own programming language, Solidity.
ICO
ICO in 2013, raised $15.5 million.
Supporting Organizations and Partnerships
Ethereum Foundation, Consys, Enterprise Ethereum Alliance (consists of over 500 organizations).
Consensus Method: Proof of Stake (PoS)
Programming Language: Solidity
Use Case: Smart contracts, Dapps, ICO platform
Advantages
Largest following amongst blockchain developers
The best developer tools
Large corporate support through the Ethereum Enterprise Alliance (EEA)
Concise programming language
Disadvantages
DAO hack can occur on other software developed on the platform
Uncertainty surrounding PoS shift
ADA (Cardano Blockchain)
Cardano is an advanced smart contracts platform that is more technologically sophisticated than any other existing blockchain. It is created by experienced software developers and researchers that utilize a science-based approach.
Cryptocurrency expert Charles Hoskinson is the founder of Cardano (ADA cryptocurrency), founder of IOHK and former co-founder of Ethereum.
ICO
Cardano's ICO ended on Dec 31 2016 and raised 63 million.
Supporting Organizations and Partnerships
The Cardano Foundation, Emurgo, IOHK
Consensus Method: Ouroboros Protocol
Programming Language: Haskell, Plutus, Marlow, Glow
Haskell is not the most favorite programming language for the newer generation of blockchain developers.
Charles Hoskinson explains why Cardano Team (IOHK) chooses Haskell as its main programming language.
Programmers for Cardano's smart contracts will use one of three languages: Plutus, Marlowe, or Glow. As described by IOHK, Plutus is “a purpose-built smart contract development and execution platform” that runs both on-chain and off-chain.
Cardano Plutus Tutorial #1: Hello World | Plutus Playground + Haskell Explanation
Cardano: Plutus Smart Contract Explained (Deep Dive)
Basic programming w / Python and Cardano - 0: Introduction
Use Case: Smart Contract, Dapps
Advantages
Building smart contracts
Building Dapps
Issuing Tokens
Disadvantages
Haskell is not the most favorite programming language for newer generation of blockchain developers
LiteCoin (LTC)
Litecoin is the Silver to Bitcoin’s Gold, faster transaction time. Litecoin is a fork of Bitcoin core.
ICO
Charlie Lee the creator of Litecoin claims Litecoin wasn't an ICO
Supporting Organizations and Partnerships
Litecoin Foundation. The Litecoin Foundation the nonprofit organization acquired 9.9% of Germany's WEG bank in 2019, then the Foundation increased its investment to almost 30% of the bank's equity.
Consensus Method: Proof of Work (PoW)
Programming Language: C++ for Litecoin core and Java for Apps
Use Case: Currency
Advantages
Confirmation time are 4 times faster than Bitcoin
Codes that run on Bitcoin can be almost completely copied and run on Litecoin, saves developing time
Disadvantages
No differentiation from Bitcoin, most of the time changes are tested on Litecoin blockchain before they are implemented on the Bitcoin blockchain
IOTA (IOTA)
IOTA is uses a “Tangle Network” instead of a blockchain, allows instant, free transactions with the intention of creating a “Machine Economy”. It aims to be the cryptocurrency that can be used in machine communications.
ICO
IOTA Foundation raised $434,000 USD during their ICO which started on November 24th 2015 until December 20th 2015. Comparatively it is a very small amount to other ICOs, but at the time it was an impressive accomplishment.
Supporting Organizations and Partnerships
IOTA Foundation, Microsoft, Tesla (information not officially confirmed), Porsche, BOSCH, Fujitsu.
Consensus Method: Tangle Network
Programming Language: IOTA development map mentions several programming languages: Rust, Go, Javascript, Java and C++
IOTA is created for the machine economy which rather different from a lot of other cryptos.
In 2021 the IOTA Network made a huge leap forward and launched the Chrysalis Protocol.
Use Case: Machine economy
Advantages
Instant, free transactions
Specialized technology "Tangle Network"
Large potential market in the Machine Economy
Strong partnerships
Disadvantages
"Tangle Network" is a brand new technology and has many unknowns
OmiseGo (OMG)
OmiseGo is a DApp built on the Ethereum blockchain. It is part of the parent company Omise which is payment gateway provider in the South East Asian market. OmiseGo aims to solve payment problems in South East Asian where the majority of the population have no access to traditional banking services and all have cellphones.
ICO
OmiseGo raised $25 million in its ICO in 2017.
Supporting Organizations and Partnerships
Omise, Credit Saison, Mizuho Financial Group, McDonald’s Thailand, TrueMoney, PaysBuy, Bank of Ayudhya (Krungsri), Sumitomo Mitsui Banking Corp (SMBC), Sinar Mas Digital Ventures (SMDV), GreyLock Partners.
Consensus Method: Proof of Work (PoW)
OmiseGO (OMG Network) is a scaling solution for Ethereum that is fully compatible with ERC-20 tokens and ETH
OmiseGO explained by cryptopedia
Programming Language: Solidity
Use Case: payment gateway for people without traditional banking access
Advantages
Uniquely positioned in East Asia with access to Korean and Japanese markets
High profile advisers including Vitalik Vuterin, Joseph Poon and Julian Zawistowski
Backed by parent company Omise
Building dApps
Faster transaction time than main Ethereum blockchain
Disadvantages
In many cases, it is depended on the development of Ethereum
EOS (EOS)
EOS aims to be the “operating system” on which other blockchains can more easily be built. EOS is geared towards Dapps and games. EOS allows Dapps to be made easily and interoperate. The ICO which ran for 1 year and raised $4 Billion USD.
ICO
Block.one raised $4 billion in a year long ICO for the EOS project in 2018.
Supporting Organizations and Partnerships
Block.one, Tapatalk, Wanchain, Galaxy Digital, EOS Global, FinLab, SVK Crypto and many others.
Consensus Method: Delegated Proof-of-Stake (dPoS)
Programming Language: C++ is the main programming language of EOS preferred to run extensive applications on top of the blockchain. EOS also supports any language that compiles into WebAssembly (WASM).
Use Case: Blockchain games, Dapps, smart contract and an “operating system” for blockchains
Advantages
No network fee
Fast confirmation time, approx. 1.5 seconds
Building Dapps
Issuing Tokens
Disadvantages
Block producer collusion
Disclaimer
This website does not offer any financial advice. You should consult with your financial advisor for all your financial decisions. You are the only one that is responsible for any of your possible gain or loss. Cryptocurrency is a very speculative asset. Please do your own research and due diligence. Cryptocurrency space is changing by the second and information regarding the space also changes by the second.