Tokencan Virtual Asset Encyclopedia Part.2 — TOP.10 Coin Information

Tokencan Exchange
5 min readFeb 1, 2023

Today’s post will introduce you to the most popular and influential virtual assets (coins) in the world.

As you know, the first coin that officially appeared in the world was Bitcoin (BTC).

Bitcoin is still the most influential and attracting attention in the virtual asset market. Even coins other than bitcoin are called altcoins, and in the virtual asset market, they are largely classified into two categories: bitcoin/altcoins.

However, there are quite a few coins that are attracting attention in the virtual asset market around the world, such as Bitcoin. Today, I will post in detail the TOP.

For your information, the virtual assets that we will introduce today in our Tokencan are all popular virtual assets in the market and provide information, and do not recommend or induce investment!

1. Bitcoin

Bitcoin is the first cryptocurrency created based on blockchain technology. The currency unit is BTC, and sometimes it is indicated as XBT because there is no issuing entity, but it is mostly expressed as BTC.

Bitcoin was developed in C++ in January 2009 by a person under the pseudonym Satoshi Nakamoto. Mining is carried out using the SHA-256 hash algorithm-based proof-of-work (PoW) method, and Bitcoin’s market capitalization reached 100 trillion won in July 2018, and as mentioned above, it still ranks first.

2. Ethereum

Ethereum is a distributed computing platform for implementing smart contract functions based on blockchain technology. It is based on Bitcoin and is also called ‘Second Generation Blockchain’ or ‘Bitcoin 2.0’. The currency unit is ETH, and it was developed in July 2015 by Vitalik Buterin in C++ and Go languages. The proof-of-work (PoW) mining method based on the Ethash algorithm has been changed to the proof-of-stake (PoS) method through a large-scale upgrade of The Merge.

※ You can find explanations on Proof of Work (PoW) and Proof of Stake (PoS) in the previous post!

3. Filecoin

Filecoin is a cryptocurrency created to implement a decentralized decentralized cloud system using IPFS technology. The currency unit is FIL, and to briefly explain the most important IPFS, the HTTP method we have used for a long time is a method of finding an address where the data is located and bringing the content at once, but IPFS uses a hash value that has converted the data content to transfer data. It is a method of finding content that is distributed and stored on various computers around the world, dividing it into several pieces, importing them at high speed, and combining them into one. Since numerous distributed nodes around the world store the information, users can save and retrieve data faster than the existing HTTP method, and it has the advantage of reducing costs by more than 60%.

In addition, Filecoin users can store and browse files using the remaining hard disk space of their computers, and it is receiving great attention from virtual asset users around the world, including Korea.

4. Binance Coin

Binance Exchange is the world’s #1 exchange. Binance Coin (BNB) is literally a key currency coin used in Binance. Based on the Ethereum blockchain, ERC-20 is used, which is only interchangeable between cryptocurrencies and cannot be exchanged for fiat currencies.

5. Lite Coin

It is a coin with the name ‘small and light cryptocurrency’ based on Bitcoin. It was developed in 2011 by Charlie Lee, a Chinese-American, in C++ language, and is mined with a proof-of-work (PoW) method based on the Scrypt hash algorithm. Litecoin is a coin that can be directly sent and received in peer-to-peer (P2P) transactions, allowing instant transfers to people around the world at near-zero cost. It is the first coin derived from Bitcoin’s hard fork, and it is a major altcoin that ranks 6th in market capitalization based on CoinMarketCap. The monetary unit is LTC.

6. Bitcoin Cash

In August 2017, it is a newly created coin led by Chinese mining companies such as Bitmain and BTC to increase the storage capacity per block of Bitcoin. It is mined with a proof-of-work (PoW) method based on the SHA-256 hash algorithm, and the currency unit is BCH. Bitcoin Cash is a hard fork of Bitcoin created under enhanced consensus rules to allow for self-growth and expansion. Bitcoin Cash has a block size of 8 MB, and can store much more transactions in one block than conventional Bitcoin. It is still maintaining its position as a major coin while growing the network with low fees and fast approval.

7. Polkadot

DOT’s Polkadot, a monetary unit, is an interchain blockchain project led by Ethereum co-founder Gavin Wood. Interchain projects that connect different blockchains enable seamless data transfer between chains. Polkadot is a project under Parity Technologies, an Ethereum wallet, and the WEB.3 Foundation, which aims to provide interoperability between various blockchains.

8. Highstreet Coin

High Street is a P2E commerce-oriented metaverse project that combines shopping and games. The monetary unit is HIGH, which is High Street’s utility token. It is a token that is closely related to the metaverse that will develop rapidly in the era of COVID-19, and can be used to purchase in-game items in Highstreet Market and real estate in Highstreet World. Used to access exclusive events.

9. Ethereum Classic

Ethereum Classic is a decentralized network that supports smart contracts and is a coin created by separating from the existing Ethereum in the wake of the ‘The DAO’ hacking incident in 2016. Proof of Work (PoW) consensus algorithm is used, and the currency unit is ETC.

Even though a hard fork was proposed as a response to the hacking incident of The DAO in the past, some forces in the Ethereum community did not accept it and declared that they would follow the original Ethereum chain, and Ethereum and Ethereum Classic were divided. . Although the proof-of-work method has the disadvantage of being slower than other consensus algorithms, Ethereum Classic, which uses an account-based-model as a transaction recording method, saves storage space and DApp development method. simplifies. It also has the advantage of preventing the risk of being included in a centralized blacklist by increasing the substitutability between accounts.

10. Tether/USDT

Tether is the most representative stablecoin linked to the US dollar. The currency unit is USDT, and it is a coin created for the purpose of linking with the US dollar. 1 Tether always has the value of 1 dollar. Currently, it is most commonly used in the token can trading market, and due to the nature of stable coins, the price of the coin hardly fluctuates and is a stable value stable currency.

The 10 coins or tokens above are virtual assets that anyone who has encountered the virtual asset market will have heard of. In particular, in the case of Bitcoin or Ethereum, even those who have no idea about virtual assets must have heard of it at least once.

The virtual assets introduced today have a history and technology to prove their value, and are still attracting attention from many people.

I hope this information has been useful to you when investing in virtual assets.

Another thing, the TOP.10 virtual assets introduced today are all listed on the Tokencan Exchange, so you can see and trade them at Tokencan at any time.

In the future, Tokencan will come back with useful information that you need for virtual assets.

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