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When you think of cryptocurrencies the first thing that may come to mind is Bitcoin, but this is not the only cryptocurrency around.
Since Bitcoins creation in 2009 there has been an emergence of many other cryptocurrencies each with their own unique features and focuses.
These emerging cryptocurrencies that are based on Bitcoin are commonly known as altcoins.
We have compiled a list of the top five most popular cryptocurrencies that have been ranked based on their market capitalization.
Number one on the list of most popular cryptopcurrencies is Bitcoin which was the first of its kind created in 2009.
As of 29th December 2017 there are 16,770,512 bitcoins in circulation out of a current supply of 21 million.
There are between 2.9 million and 5.8 million unique users with a market capitalization of $288 billion.
The currency used by Bitcoin is of course bitcoins and the code used for these is BTC.
One bitcoin was worth over $7,125 U.S as of 29th May 2018 having reached over $19,000 in December 2017.
Second on the list is Ripple or Ripple protocol which was created in 2012.
Ripple is different to that of bitcoin in that it is designed for peer to peer debt transfer and is focused more towards banks and payment networks.
The native currency used for the Ripple network is XRP.
There is a current supply of 100 billion XRP with 20 billion XRP held by the creators.
As with bitcoin the supply of Ripple is intended to slow down gradually.
One XRP was worth $0.56 U.S as of 29th May 2018.
Third on the list is Ethereum which was created in 2015.
Ethereum works similar to bitcoin but there are differences such as block creation speed, transaction fees, mining rates and account systems.
The currency used by Ethereum is the ether.
In 2016 Ethereum was split into two currencies, Ethereum using the code ETH and the original as Ethereum Classic using the code ETC.
In 2017 there was 10% or 9.2 million ether added to the total supply from mining with the total supply as of 2018 being 98 million.
Some people have predicted that it Ethereum will one day catch up to bitcoin.
As of 29th May 2018 one ether (ETH) was worth over $519.45 U.S. and 1 ether classic (ETC) worth nearly $14.59 U.S.
4. Bitcoin Cash
Fourth on the list is Bitcoin Cash which is a hard fork of bitcoin created on August 1, 2017.
The reasoning the fork was to increase the number of transactions its ledger can process by having the block size increased from 1MB to 8MB.
The native currency name used is Bitcoin Cash also known as Bcash using the code BCH or BCC.
As with Bitcoin, bitcash has a supply limit of 21 million.
As of 29th May 2018 one Bitcash was worth over $903.90 U.S.
Fifth on our list is Cardano which was created in 2017 and is considered to be a third generation cryptocurrency.
The native currency name used is Cardano ADA with ADA being used as its code.
As of 29th May 2018 there are 25.9 billion ADA circulating with one ADA worth over $0.19 U.S.
Other Cryptocurrencies Available
There are other popular cryptocurrencies which include Dash, NEM, Litecoin, TRON, and IOTA making up the top ten cryptocurrencies.
Our list is based on market capitalization which may have changed since this article was written.
As Blockchain technology advances there are sure to be more rising cryptocurrencies in the future.