A blockchain-based tokens are meant to serve a different purpose from that of money.
One example of a token issued as a part of an Initial Coin Offering, that represents a stake in a blockchain or decentralized finance project. It can be called a security token if the token is linked to the value of the company or project.
There are other tokens that are used in a particular case or function, such as Storj tokens, allowing people to share files across a decentralized network. And Namecoin, which provides decentralized Domain Name System (DNS) service for Internet addresses. These tokens are known as utility-based tokens.
1. Ethereum (ETH)
In 2015, Ethereum launched, and after Bitcoin, it’s currently the second-largest digital currency by market capitalization, although it lags behind the dominant cryptocurrency by a significant margin.
Ethereum is a decentralized software platform that enables smart contracts and decentralized applications to build and run without any fraud, control, interface, and downtime from a third party.
Ethereum’s goal is to create a decentralized suite of financial products that anyone can freely access, ethnicity, regardless of nationalization or faith in the world.
As of February 2022, Trading at around $3,150 per ETH ether’s market cap is just over half of bitcoin’s.
2. Litecoin (LTC)
In 2011, Litecoin (LTC) was launched. It is the first cryptocurrency to follow in the footsteps of Bitcoin and also it is referred to as “silver to Bitcoin’s gold. It has a faster block generation rate and offers faster transaction confirmation time just like Bitcoin.
Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses scr4ypt as a PoW, which can be explained with the help of customer-grade central processing units. In February 2022, February, it was the 21st- largest cryptocurrency in the world with a market capitalization of $9.3 billion and a per token value of around $135.
3. Cardano (ADA)
Cardano means “Ouroboros proof-of-stake” cryptocurrency which is created with a research-based approach by engineers, mathematicians, and cryptography experts.
Cardano provides solutions for chain interoperability, voter fraud, legal contract tracing, and other things. Its aim is to be the world financial operating system by establishing Defi products.
As of February 2022, Cardano has the sixth-largest market capitalization at $38.5 billion, and one ADA trades for around $1.20
4. Polkadot (DOT)
Polkadot (DOT) is mainly designed to connect permissioned and permissionless blockchain. it’s a unique PoS cryptocurrency aimed at delivering interoperability among other blockchains as well as oracles to allow systems to work together under one roof. Polkadot’s core component is its relay chain, which allows the interoperability of varying networks. It also allows for parachains or parallel blockchains with their own native tokens for specific-use cases.
As of February 2022, Polkadot has a market capitalization of roughly $24.5 billion, and one DOT trades for $22.60.
5. Bitcoin Cash (BCH)
Bitcoin Cash BCH is the easiest and most successful hard fork of organic bitcoins. Fork means, as the result of debates and arguments between developments and miners. wholesaler changes the code underlying the token or coin at hand must be made due to general consensus, because of the decentralized nature of digital currencies. As of February 2022, BCH has a market capitalization of around $6.5 billion and a value per token of $340
6. Stellar (XLM)
Stellar (XLM) works on the largest transaction, an open blockchain network designed by connecting financial institutions to provide enterprise solutions. The transaction between bank and investments typically takes several days costing good ideal money costing a good deal of money can now be made nearly instantaneously with no intermediaries and cost little to nothing for those making the transaction.
7. Dogecoin (DOGE)
Dogecoin (DOGE), published in 2013, was seen by some as the original “meme coin,” as the price of the coin skyrocketed. The coin, used as an image of the Shiba Inu as its avatar, was accepted by some major companies to be accepted as a format of payment which included the Dallas Mavericks, Kronos, and—perhaps most notably—SpaceX, an American aerospace manufacturer owned by Elon Musk.
The prices hit DOGE all, the time approximately 0.74% during a week. As of February 2022, Dogecoin’s market capitalization is $21.7 billion and one DOGE is valued at around 16 cents, making it the 11th-largest cryptocurrency.
8. Binance Coin (BNB)
Binance Coin (BNB) is the third-largest cryptocurrency by market capitalization. It is a utility cryptocurrency for the fees associated that operates as a payment method with trading on the Binance Exchange.
Binance Coin was initially an ERC-20 token that operated on the Ethereum blockchain. The network uses a PoS consensus model. As of February 2022, Binance Coin has a $73.5 billion market capitalization, with one BNB valued at $436.
9. Tether (USDT)
Tether (USDT) launched in 2014, it was one of the first and most popular of a group of stable coins cryptocurrencies, that aim to grab their market value to a currency or other external reference point to reduce volatility. Because most of the digital currencies, even major ones like Bitcoin, have experienced frequent periods of dramatic volatility, Tether and other stable coins attempt to smooth out price fluctuations to attract users who may otherwise be cautious.
As of February 2022, Tether is the fourth-largest cryptocurrency by market capitalization, with a market cap of $78.1 billion and a per token value of (you guessed it!) $1.
10. Monero (MXR)
Monero XMR launched in 2014, April, it is a secure, private, and untraceable currency. The development of this cryptocurrency is completely donation-based and community-driven.
Because of these exceptional security mechanisms, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world. Though this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world.
As of February 2022, Monero has a market capitalization of $3.2 billion and a per token value of $178.