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Cryptocurrencies are more than a buzzword in the modern world. They are digital currencies revolutionizing the financial landscape, redefining the traditional notion of transactions. With the continuous evolution of the crypto market, every investor is aiming for the cryptos that are doing great. While navigating the digital frontier, know the minds behind the innovations and their inspirations. This blog post digs into five top coins and their creators.
Chainlink
Also known as LINK, Chainlink has proven to be a fundamental player in the blockchain world. It has gained popularity through outstanding attributes such as the automation of event-driven tasks and critical functions. In 2017, Sergey Nazarov co-founded this blockchain to take blockchain interoperability a notch higher. It offers a more decentralized Oracle network that connects blockchains and off-chain data. It utilizes hybrid smart contracts to integrate on-chain codes and off-chain data infrastructure.
This makes the interaction of APIs, payment systems, and data feeds seamless, making the possibilities endless for DApps (decentralized applications). This is significant when dealing with games that need cryptographically secure randomness.
Binance Coin
Over the years, the Binance coin has become a multi-dimensional asset with more applications in decentralized finance. The currency began as a utility token for lowering the trading fees on the Binance exchange platform. With lots of improvements over the years, it’s proving to be competitive.
In 2017, Changpeng Zhao pioneered this blockchain in an attempt to cultivate user-friendliness in the crypto world. This is something that made Binance an instant hit in the market. When developing the BNB chain, he ensured the blockchain was well-tailored for optimal performance. The chain has the BNB beacon, which governs the holders participating in the staking and voting.
Bitcoin
A synonymous programmer or programmers (Satoshi Nakamoto) pioneered this crypto. This was back in 2009 and made the world know what decentralization of modern currencies is all about. Despite their anonymity, Nakamoto’s creation inspired the shift to blockchain technology and decentralized finance (DeFi).
Many investors globally appreciate the essence of BTC in hedging against inflation and preserving value. The widespread acceptance and the limited supply of 21 million coins make crypto a top choice for your cryptocurrency investment portfolio.
Cardano
Within the blockchain space, the aspects of scalability and interoperability were less exploited before the arrival of Cardano (ADA). It comes with Ouroboros, which is a unique proof-of-stake consensus algorithm. In this mechanism, divisions of chains happen into epochs. A further subdivision brings about time slots.
This results in creating a more secure and scalable space, making it a top option for any investor looking for long-term growth. Charles Hoskinson, the mastermind behind this crypto, aimed to emphasize a peer-reviewed and research-driven strategy in development.
Ethereum
This blockchain platform allows you to establish a peer-to-peer network that safely executes and verifies your application code (smart contracts). This aids you in transacting with other users without the need for a central authority.
Vitalik Buterin is the mind behind the crypto and crafted the Ethereum concept to expand blockchain capabilities. His target was to empower developers to come up with different decentralized applications.
This is from Defi platforms to NFTs (non-fungible tokens). He made this brainchild a success by working with a core team. Alisie, Anthony Di Iorio, Charles Hoskinson, Joe Lubin, and Gavin Wood ensured the conceptualization worked. Buterin and his team have released the long-awaited new version (the merge).
Endnote
The world of cryptocurrency is growing and becoming better each day. As an investor in this realm, it’s helpful to understand the various digital currencies and their nature. This is without forgetting the history behind the launches and the innovators behind them since this knowledge empowers you to make the right decisions as an investor.
