foreign s in today's video it will be a little bit different we will be educating you on some of the main cryptocurrencies in today's market not to dive into deep just to spare a little time and include a few more coins than I usually would in one of our videos hopefully this video can help some of the new people entering the crypto market and to educate you on exactly why these coins were built and what they do remember every coin in the crypto Market is a technological software that manages your currency and what you are capable of doing with that currency most of these coins that I will be speaking about have been on the market for a few years and are known for being the more permanent coins in the crypto space I'm not promoting or sponsored by any of these coins and this is definitely not Financial advice just an educational video in case you ever forget what a certain coin does or is used for let's begin of course we will start this video with the myth the legend Bitcoin the Bitcoin code is BTC with a block reward of 6.25 Bitcoins and a block time of 10 minutes Bitcoin also has a supply of 21 million Bitcoin is the first ever cryptocurrency designed to act as money in a form of payment outside the control of any one-person group or entity and thus removing the need for third-party involvement in financial transactions Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi nokomoto Bitcoin is based on proof of work pow concept involves solving a computational challenging puzzle in order to create new blocks in the Bitcoin blockchain this process is called mining as I can go on and on for maybe a few days on bitcoin I will move on to the next cryptocurrency the next cryptocurrency is ethereum ethereum also known as ether with a code eth and a circulating supply of 122.43 million ethereum is a decentralized open source blockchain with smart contracts functionality it is the second most popular cryptocurrency after Bitcoin founded by vitalik buterin in 2015.
ethereum allows anyone to build their own cryptocurrency decentralized apps or dapps and non-fungible tokens or nft on the platform for the sake of time we will move on to tether tether which is known as a stable coin and pegged to the US dollar is usdt usdt is a stable coin which has been designed to be worth one US dollar furthermore for every usdt issued a U.S dollar is put in the reserve usdt is available at all the major blockchains like ethereum Solana Tron BSC and among more usdt is the most popular stable coin and it's used to buy or sell all types of crypto like Bitcoin BMB Etc speaking of BNB which is the binance Smart chain native token has a circulating supply of 161.34 million BNB is the native token of the binance chain and binance smart chain the BNB ticker stands for build and build BNB was founded by Chong Peng ju also the CEO and founder of the world's largest Exchange binance BNB serves to pay transaction fees on binance finounced X in BSC chain furthermore BNB users can pay for multiple goods and services like buying a flight ticket or hotel bookings moving on to cardeno with a code Ada and a circulating supply of 34.25 billion cardeno is a public blockchain platform it is open source and decentralized with consensus achieved using proof of stake cardeno was founded in 2017 by ethereum co-founder Charles Hopkinson cardeno is working with the government to solve real-world problems like economic accessibility the deal with the Ethiopian Ministry of Education to create 5 million student IDs is the most known of these Concepts onto a coin that no one really talks about but has been known to be used by a lot of executive branch type of people in the crypto space Litecoin is very reliable and a tad bit faster than Bitcoin and very easy to use Litecoin or LTC has a circulating supply of 71.33 million Litecoin is a decentralized peer to peer cryptocurrency and open source software projects Litecoin was created by former Google engineer Charlie Lee Litecoin was one of the first altcoins a name given to cryptocurrencies other than Bitcoin Litecoin is popular among the gambling Community worldwide next coin we will talk about is one of my personal favorites and known as the liquid coin which operates well with a well-known company called Ripple with one of the most infamous code names xrp xrp has a circulating supply of 49.859 billion xrp is an open source permissionless and decentralized Technology in 2012 David Schwartz Jed McCaleb and Arthur Britto launched The xrp Ledger with its native cryptocurrency xrp as a faster more energy efficient alternative to the Bitcoin blockchain xrp is a cryptocurrency designed to facilitate faster and cheaper payments on to the next cryptocurrency usdc which has a circulating supply of 45.42 billion the stablecoin originally launched on a limited basis in September 2018.
USD coin known by its ticker usdc is a stable coin that is pegged to the US dollar on a one-to-one basis USD coin is managed by a Consortium called Center which was founded by Circle and includes members from The cryptocurrency Exchange coinbase and Bitcoin mining company bitmain an investor in circle the stablecoin market has become exceedingly crowded over recent years but USD coin has aimed to stand Head and Shoulders over competitors in several ways on to the billionaire Elon musk's favorite cryptocurrency Dogecoin Dogecoin with the ticket Doge has a circulating supply of 182.67 billion tokens Dodge Coin is a cryptocurrency created by software Engineers Billy markers and Jackson Palmer Dodge Coin is based on the popular dog internet Mimi and it was lost in December 2013 features a Shiba ainu on its logo the success of Dogecoin is closely intertwined with Elon musk's passion for it musk began tweeting about Dogecoin in early 2021 another personal favorite is Avalanche Avalanche with a ticker avax and a circular supply of 296.77 million Avalanche is a layer 1 Block Chain that functions as a platform for decentralized applications in custom blockchain Networks Avalanche founder Emin gun sire dismisses cryptolix smear campaign allegations in September 2020 it has chained for decentralized finance avax is a cryptocurrency and blockchain platform that rivals ethereum avax is a native token to the Avalanche blockchain which like ethereum user smart contracts to support a variety of blockchain projects our final crypto of this video will be Solana Solana also known as Sol has a circulating supply of 349.84 million tokens Solana is a public blockchain platform with smart contracts functionality Solana was created by Anatoly yakovenko in 2020 based on a unique concept called proof of History proof of History provides a way to prove the passage of time and where events fall in that timeline Solana has the capacity to process 50 000 transactions per second which makes it one of the fastest blockchains at the moment that will conclude today's video on the background of a few coins I find attractive in the crypto world this will be part one of explaining Mega cryptocurrencies part 2 will be posted as soon as possible please do more research as this video only holds a small summary of what these cryptocurrencies can actually do remember the social media platforms will be up and running next week with the last Channel being deleted we must now start over don't forget we have a 50 giveaway for when we hit 200 subs and followers on all social platforms we also raised the giveaway for 1 000 Subs on YouTube to a 200 giveaway don't miss out all you have to do is like follow subscribe and tag as many people as you can we will be watching who tags who in keeping tabs on which one of those tags actually followed and subscribed I repeat this is not a random drawing anyone can compute the giveaways themselves good day good night and goodbye
