Rises and falls in the world of cryptocurrencies are a common occurrence for every investor. While some cryptocurrencies soar to new heights, experiencing significant growth by multiples or even tens of times, others decline in value and recede into the background.
Today, PointPay has taken the initiative to review all the cryptocurrencies listed on our exchange and highlight those that have delighted their investors with impressive growth over the past year. Furthermore, we will provide a concise description of each cryptocurrency to facilitate a better understanding of the subject matter, considering the number of rising cryptocurrencies available on the PointPay exchange!
Polygon (formerly known as Matic Network) is a scalable platform designed for creating decentralized applications (DApps) on the Ethereum blockchain. It utilizes various technologies, including sharding, sidechains, and state optimization, to achieve scalability.
Founded in 2017 by a team of developers, including Jaynti Kanani and Sandeep Nailwal, Polygon was launched in 2019 and has since emerged as one of the most popular solutions for scaling Ethereum.
Polygon offers several advantages over other scaling solutions, including:
- High Scalability: Polygon can handle millions of transactions per second, making it an excellent choice for high-throughput DApps.
- Cost-effectiveness: Transactions on Polygon are remarkably affordable, ensuring accessibility for users.
- Security: Built on the Ethereum blockchain, Polygon benefits from the robust security measures inherent to one of the world's most secure blockchains.
Polygon is widely adopted by thousands of DApps, including notable projects such as Aave, Curve, and SushiSwap. Moreover, it has garnered support from leading blockchain companies like Binance and Coinbase.
Over the past year, this cryptocurrency has demonstrated a remarkable growth of 31.9%!
Dogecoin (DOGE) is a meme-cryptocurrency created in 2013 by two software engineers, Billy Markus and Jackson Palmer. DOGE was initially developed as a lighthearted joke, but it quickly gained popularity on the internet and has now become one of the world's most widely recognized cryptocurrencies.
Based on the Litecoin blockchain, Dogecoin employs mining to generate new tokens. It stands apart as a decentralized digital currency without a central issuer, free from the control of any government or financial institution.
While DOGE can be used for making payments for goods and services, its primary usage revolves around speculative trading and investments. Additionally, Dogecoin has emerged as a favored medium for charitable donations, with numerous fundraisers conducted for various philanthropic causes.
The price of DOGE witnessed a remarkable surge in 2021, propelling it to be one of the top ten most valuable cryptocurrencies globally. However, it's essential to note that DOGE's price exhibits high volatility, and it should not be regarded as a reliable long-term investment option.
Over the past year, this cryptocurrency has demonstrated a growth of 6.6%!
Ripple (XRP) is a platform designed for fast and affordable transactions. It operates on a distributed ledger technology that facilitates real-time transactions between banks and other financial institutions.
Founded in 2012 by a team of developers led by Brian Armstrong, Ripple is currently adopted by over 1,000 financial institutions worldwide.
Ripple offers several advantages over other payment systems, including:
- Speed: Ripple enables transactions to be processed in real-time, far surpassing the speed of traditional payment systems.
- Cost-effectiveness: Ripple transactions are highly cost-efficient, making them accessible to a wide range of users.
- Security: Utilizing a distributed ledger, Ripple ensures robust transaction security.
Over the past year, this cryptocurrency has demonstrated impressive growth of 49.5%!
FLOKI (FLOKI) is a decentralized autonomous organization (DAO) created with the aim of promoting cryptocurrency adoption in developing countries. The project was founded in 2022 by a team of developers, including Jonas Olsen and Henrik Braten.
Using the Ethereum blockchain, FLOKI has built a decentralized platform that allows users to exchange, trade, and invest in cryptocurrencies. Additionally, the platform offers a range of educational resources to help users gain a better understanding of cryptocurrency and blockchain technology.
FLOKI possesses several advantages over other cryptocurrency projects, including:
- Decentralized Platform: FLOKI operates on a decentralized platform, ensuring enhanced security and transparency without the need for central control.
- Robust Blockchain: FLOKI leverages the Ethereum blockchain, recognized globally for its exceptional security and reliability.
- Education and Training: The FLOKI platform provides a comprehensive set of educational resources to empower users with knowledge about cryptocurrency and blockchain technology.
Over the past year, this cryptocurrency has shown remarkable growth of 314.0%!
TRON (TRX) is a decentralized operating system built on blockchain technology. It was founded in 2017 by Justin Sun, a former employee of BitTorrent.
TRON aims to create a decentralized internet ecosystem where users can freely exchange content and applications without the need for intermediaries. The project utilizes the TRX token to ensure network decentralization and facilitate transactions.
TRON boasts several advantages over other blockchain platforms, including:
- High Scalability: TRON has the capability to process up to 10 million transactions per second, enabling fast and efficient operations.
- Low Transaction Costs: TRON offers very cost-effective transactions, making it affordable for users.
- User-Friendly Interface: TRON is designed with simplicity in mind, catering to both developers and end-users.
TRON has experienced rapid growth and has become one of the most popular blockchain platforms worldwide. Currently, there are over 4,000 decentralized applications (DApps) operating on the platform, with this number continuing to expand.
Over the past year, this cryptocurrency has shown significant growth of 19.3%!
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a blockchain fork of Bitcoin that occurred in August 2017. The fork was prompted by disagreements among Bitcoin developers regarding the scalability of the network.
Bitcoin Cash developers believed that the Bitcoin network should increase the block size to enhance network capacity and reduce transaction fees. Bitcoin developers, however, maintained that the Bitcoin network should maintain its existing block size to preserve network decentralization.
Bitcoin Cash utilizes an 8MB block size, which is eight times larger than the Bitcoin block size. This enables the Bitcoin Cash network to process a higher number of transactions per second and lower transaction costs.
Over the past year, this cryptocurrency has demonstrated significant growth of 186.2%!
Bitcoin (BTC) is a decentralized digital currency that was created in 2009 by an unknown individual or group using the pseudonym Satoshi Nakamoto. Bitcoin is not regulated by any central bank or government authority, and its issuance and transactions are controlled by a network of users.
Bitcoin is built on blockchain technology, which serves as a transparent and distributed ledger for recording transactions. The blockchain's openness allows for public scrutiny of transaction records.
Here are some key advantages of Bitcoin:
- Decentralization: Bitcoin operates without central control, making it resistant to inflation and immune to political influence.
- Security: The blockchain technology underlying Bitcoin ensures high levels of security, making it extremely difficult to manipulate transactions.
- Anonymity: Bitcoin transactions offer a certain level of pseudonymity, as they do not directly reveal the identities of parties involved.
- Scarcity: With a limited supply of 21 million bitcoins, Bitcoin is considered a finite resource, adding to its value proposition.
Over the past year, this cryptocurrency has demonstrated a growth of 55.5%!
Litecoin (LTC) is a decentralized cryptocurrency created in 2011 by Charlie Lee. It is based on the Bitcoin code but has several key distinctions, including:
- Faster blockchain: Blocks in the Litecoin blockchain are generated approximately every 2.5 minutes, four times faster than those of Bitcoin.
- Higher emission limit: Litecoin will have a total supply of 84 million coins, four times the amount of Bitcoin.
- Uses the Scrypt algorithm instead of SHA-256: The Scrypt algorithm requires more computational power for mining, making it less susceptible to ASIC mining dominance.
Litecoin is often referred to as the "silver" to Bitcoin's "gold" due to its ability to provide faster and more cost-effective transactions. It has gained popularity among both users and speculators alike.
Over the past year, this cryptocurrency has shown significant growth of 106.9%!
Cosmos Hub (ATOM)
Cosmos Hub (ATOM) is a decentralized network that enables different blockchains to interact with each other. Cosmos Hub utilizes the Inter-Blockchain Communication (IBC) protocol, which allows blockchains to transfer data and tokens to one another.
Created in 2014 by a team of developers led by Justin Sun, Cosmos Hub is currently one of the most popular decentralized networks globally.
Cosmos Hub offers several advantages compared to other decentralized networks, including:
- High scalability: Cosmos Hub can process millions of transactions per second.
- Low transaction costs: Transactions within Cosmos Hub are very affordable.
- User-friendly interface: Cosmos Hub is easy to use for both developers and users.
Over the past year, this cryptocurrency has shown a growth of 15.4%!
Chainlink (LINK) is a decentralized oracle network that allows smart contracts to access real-world data. Chainlink utilizes a network of oracles that provide data from various sources, including exchanges, weather services, and other websites.
Founded in 2014 by a team of developers led by Sergey Nazarov and Sergey Gorbenko, Chainlink has become one of the most popular decentralized oracle networks globally.
Chainlink offers several advantages over other decentralized oracle networks, including:
- High reliability: By leveraging a network of oracles, Chainlink ensures a more reliable and robust data feed compared to traditional oracles controlled by a single entity.
- Enhanced security: Chainlink incorporates multiple security mechanisms to safeguard its data from unauthorized access and tampering.
- User-friendly interface: Chainlink provides a user-friendly experience for both developers and end-users, making it accessible and convenient to utilize the network.
Over the past year, this cryptocurrency has demonstrated a growth of 4.2%!
Ethereum Classic (ETC)
Ethereum Classic (ETC) is a decentralized platform based on blockchain technology. It originated as a fork of the Ethereum platform in 2015. The fork was a result of disagreements among Ethereum developers regarding a proposed hard fork aimed at addressing vulnerabilities in a smart contract.
The developers of Ethereum Classic advocate for a continued decentralized approach and view the hard fork as an attempt to consolidate power. Conversely, Ethereum developers believe that the hard fork was necessary to safeguard the platform against vulnerabilities.
Ethereum Classic has gained popularity as a platform for decentralized applications (DApps). It hosts a wide range of DApps, including decentralized exchanges, decentralized finance applications, and games.
While ETC shares the same underlying blockchain technology as Ethereum, it differentiates itself in several key aspects, including:
- ETC does not possess a development fund funded through mining.
- ETC adopts a more conservative approach to network governance.
- ETC is recognized for its higher degree of decentralization compared to Ethereum.
Over the past year, this cryptocurrency has demonstrated a growth of 34.9%!
Binance Coin (BNB) is a token on the Binance Smart Chain blockchain, designed for facilitating transactions, paying fees, and accessing discounts on the Binance exchange. Additionally, BNB serves as the fuel for decentralized applications (DApps) on the Binance Smart Chain.
Introduced by the Binance exchange in 2017, BNB aims to streamline operations on the Binance platform and foster the growth of the Binance ecosystem.
Here are some notable advantages of the BNB project:
- Wide-reaching popularity: BNB has gained significant traction and is recognized as one of the most widely embraced cryptocurrencies worldwide.
- Versatile utility: BNB can be utilized for transaction payments, trading, fee settlements, and various other purposes.
- Backed by a prominent platform: BNB is backed by Binance, a leading cryptocurrency exchange renowned for its global presence and extensive support.
Over the past year, this cryptocurrency has exhibited a growth of 9.1%!
Ethereum is a decentralized blockchain platform that enables users to create and deploy decentralized applications (DApps). Founded in 2015 by Vitalik Buterin and Gavin Wood, Ethereum operates on the basis of the ETH token, which is utilized for transactions within the Ethereum network and for the development of DApps.
Key Advantages of Ethereum:
- Decentralization: Ethereum's decentralized nature enhances its reliability and resilience, distinguishing it from centralized platforms.
- Security: Leveraging blockchain technology, Ethereum is renowned for its robust security measures, making it a safer option for data storage and transactions compared to centralized alternatives.
- User-Friendly: Ethereum prioritizes user accessibility, offering a user-friendly experience for both developers and end-users.
Over the past year, this cryptocurrency has demonstrated an impressive growth rate of 76.6%!
Over the past year, a total of 13 different cryptocurrencies have shown growth on the PointPay exchange. Among them are well-known cryptocurrencies like Bitcoin and ETC, as well as lesser-known cryptocurrencies, tokens, and even meme-coins!
The most remarkable growth can be attributed to the meme-coin FLOKI, which has seen an astonishing 314% increase in its price! On the other end of the spectrum, Chainlink (LINK) exhibited more modest growth, with an increase of just 4.2%.
Regardless, the proliferation of growing cryptocurrencies, the project's development, and the increasing acceptance of cryptocurrencies worldwide all contribute to a greater sense of confidence in the future of the entire cryptocurrency market. As regulated jurisdictions, major companies, and financial institutions enter the market, and people around the world start incorporating cryptocurrencies into their daily lives, the cryptocurrency market gradually becomes more stable.
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