As of November 2024, the top 4 cryptocurrencies by market cap on CoinMarketCap are:
1. Bitcoin (BTC): Bitcoin remains the largest and most recognized cryptocurrency. Created in 2009 by Satoshi Nakamoto, it continues to be a store of value, and is considered by many to be “digital gold.” Its proof-of-work (PoW) consensus model ensures security, but also requires significant computing power.
2. Ethereum (ETH): Launched in 2015, Ethereum revolutionized the cryptocurrency space with smart contracts, enabling the creation of decentralized applications (dApps). Its upgrade to Ethereum 2.0, which aims to improve scalability and reduce transaction costs, reinforces its position as a leader in blockchain innovation.
3. Tether (USDT): Tether is a stablecoin, meaning its value is pegged to the US dollar. This makes it a popular choice for traders and investors seeking stability in a volatile cryptocurrency market.
4. XRP (Ripple): Unlike the others, XRP was designed to facilitate fast and low-cost payments, especially for international transfers. Using a federated consensus system, XRP does not require mining, which makes transactions faster and has a lower environmental impact.
These currencies represent different technological solutions within the crypto universe, from Bitcoin's store of value to XRP's fast payments, Ethereum's smart contract innovation and Tether's stability.