the field of cryptocurrencies is always expanding, and the next great digital token may be released tomorrow. While Bitcoin is widely seen as a pioneer in the world of cryptocurrencies, analysts adopt many approaches for evaluating tokens other than BTC.
Bitcoin Cash (BCH)
Bitcoin cash was created as a result of a hard fork of original Bitcoin in 2017. When the developers and miners couldn't agree on the same consensus, bitcoin was split into its core currency and a new currency.
When I researched why it happened, I came to know that due to a large number of transactions, there were a lot of loads on miners, and transactions were delayed for days due to this issue. A handsome quantity of miners began to pay high gas fees and they would delay the transaction whose gas fee is low.
Due to this, the people within the bitcoin community presented an idea to change the size of the block from 1 MB to 8 or 32 MBs. This way transactions will be made quickly and bitcoin will spread more than ever all over the world. But miners were worried about their mining charges so they didn't like this idea and as result, Bitcoin Cash was created with a fresh code with proposed changes.
Right now, Bitcoin Cash has a market cap of around $11 billion and a value per token of $608.
Bitcoin cash is faster than bitcoin core BTC due to its increased block size and it's a lot cheaper than BTC. Bitcoin core is just hype but Bitcoin cash is the real thing that is helping the community in true meanings. It has a lot of potential and more and more people who're tired of BTC transaction charges are shifting to the BCH.
Ethereum (ETH)
Ethereum is a blockchain that initially run-on a proof of work (PoW) consensus algorithm but switched to a proof of stake (PoS). Like many other blockchains, solidity is the language that is used on the Ethereum blockchain to build smart contracts and decentralized applications (DApps). These DApps are run on the Web3 network without any downtime and interference from any third party.
These DApps are produced to offer different crypto financial products to anyone in the world freely without any restriction or discrimination.
Ether (ETH) is the cryptographic token used in Ethereum to develop and run DApps inside Ethereum. Ether launched in 2015 and its market cap is also in $billions with the current ETH price of around $4400.
Polkadot (DOT)
Polkadot is a proof-of-stake cryptocurrency that is aimed at delivering interoperability among other blockchains. Its protocol is designed to connect permissioned and permission-less blockchains, as well as oracles, to allow systems to work together under one roof. Polkadot’s core component is its relay chain that allows the interoperability of varying networks. It also allows for “parachains,” or parallel blockchains with their own native tokens for specific-use cases.
Polkadot differs from Ethereum because rather than creating just decentralized applications on Polkadot, developers can create their own blockchain while also using the security that Polkadot’s chain already has. With Ethereum, developers can create new blockchains but need to create their own security measures, which can leave new and smaller projects open to attack, as the larger a blockchain, the more security it has. This concept in Polkadot is known as shared security.
As of November 2021, Polkadot has a market capitalization of roughly $51 billion, and one DOT trades for $51.93.
It’s common, for instance, for analysts to attribute a great deal of importance to ranking coins relative to one another in terms of market capitalization. We’ve factored this into our consideration, but there are other reasons why a digital token may be included in the list as well.
