Bitcoin is a trendsetter because of which we are known to many of the cryptocurrencies. The popular cryptocurrencies in India may vary from personal interests. But the factor that we must look into with a perspective of a cryptocurrency exchange is the volume of trades. But due to Bitcoin’s popularity, it has a vast number of ever-increasing legions. But leaving no stone unturned, we are going to look at some other popular cryptocurrencies in India.
Which Cryptocurrency is Best in India for 2021?
Now, we will describe some of the popular cryptocurrencies other than Bitcoin. At first, you should know that a list like this is not comprehensive. The reason is that there are more than 4000 cryptocurrencies in existence as of January 2021. Cryptocurrency exchanges in India are trying to go deep into the historical backgrounds to analyze their adaptability in the Indian market.
Without going deeper into the subject, let's stick and not forget why we are here. As the new dawn is always the new beginning of the day, let's begin our list of popular cryptocurrencies that you can easily trade and join the bandwagon routing to the yellow brick road.
Ethereum
Ethereum is a decentralised software platform enabling smart contracts and Dapps to be built and run without any downtime, fraud, control or interference of the third party. As it is a platform-specific cryptographic token, so the applications built using Ethereums runs on Ether. In 2021, Ethereum plans to change its approach (consensus algorithm) from proof-of-work to proof-of-stake. The main objective for moving from one algorithm to another is that improving its transaction speed and make it less power-consuming.
Polkadot
Developing Palkadot was a unique concept that no one has thought. It is a proof-of-stake cryptocurrency that is designed for all other systems to work under one roof. That is, Polkadot is aimed at delivering interoperability among other blockchains. The protocol is designed in such a way that it allows to connect permission and permissionless blockchains along with oracles too. When comparing Polkadot with other cryptocurrencies, it has a uniquely determined set of objectives. Allowing others to create the blockchain while using the security that Polkadot is using.
Chainlink
It is a decentralised oral network that bridges that gap between smart contracts and data outside of it. Blockchains are not yet so advanced that they can connect themselves to the outside applications in a trusted manner. So, Chainlink's oracle allows smart contracts to establish a connection with outside data, and therefore, the contracts are executed based on data that Ethereum itself cannot connect to.
Litecoin
Litecoin has followed the footsteps of Bitcoin and often refer to as Silver to Bitcoin's Gold. It was developed by Charlie Lee, an MIT graduate and former Google engineer. He launched Litecoin in 2011. It is based on an open-source global payment network with no intervention from any central authorities. It uses "scrypt" as a proof of work which can be easily decoded with the help of consumer-grade CPUs. As it is similar to Bitcoin in many ways, but still Litecoin has a faster generation of block rates, hence, offering a faster transaction confirmation time.
Ripple
It is a real-time gross settlement system, remittance network and currency exchange system. It is developed on a distributed open-source protocol that supports tokens representing fiat currencies, cryptocurrency, and commodities. Since the beginning, Ripple was designed to replace SWIFT (a leading money transfer network) or to replace the settlement layer between major financial institutions.
Cardano
It is an Oroborus proof-of-stake cryptocurrency developed with a research-based approach by engineers, mathematicians, and cryptography experts. Cardano is aiming to be the world's leading financial operating system by establishing decentralised products. It will be similar to Ethereum providing solutions for chain interoperability, voter fraud, and legal contract tracing.
Tron
It is a blockchain-based decentralised operating system based on cryptocurrency native. In 2018 Tron changed its protocol from ERC-20 token to an independent peer-to-peer network.
Stellar
Stellar is an open-source blockchain network developed for enterprise solutions by bringing all financial institutions in concatenation for the purpose of large transactions. Stellar has claimed itself to be the network for enterprise solutions, yet because of its open-source blockchain, anyone can use it. The system allows for cross-border transactions among any currency.
Dogecoin
Doge is the fifth-largest cryptocurrency by market cap. In earlier days, Doge was created to poke fun at Bitcoin, but in 2021, Dogecoin gained status on Reddit’s WallStreetBets message board—the prime instigator behind the GameStop affair in January. Dogecoin is the same technology on which Bitcoin and Ethereum work. In the future, Dogecoin will be used in exchange for goods or services. The best part of Doge is that there is no lifetime cap on the number of Dogecoin that can be developed by mining.
USDT
It is a stable coin that tends to keep cryptocurrency valuations stable. With specificity, Tether belongs to the category of fiat-currency coins, i.e., the currencies of the country back the circulation of the USDT such as the Dollar, INR, Yen and others. The development of Tether was very specific and keen. It was developed to bridge the gap between fiat currencies and cryptocurrencies. All cryptocurrency exchanges in India and the world gets stability, transparency, and minimal transactional charges from the user.
In conclusion, putting your trading skills to the test is the best way to know how deep you are into the cryptocurrency world. Popular cryptocurrencies in India is the choice for your smart investments. These discussed above cryptocurrencies are the mean ways by which you can secure your future and create an asset that will be beneficial for your future. Cryptocurrency exchanges in India are on a trail of innovations to let the people get the best use of technology to improve their day-to-day life. Let's submit a trade on Flitpay, which is India's most trusted innovative platform. Start your journey today.
