Top 5 ERC20 Tokens That Use The Ethereum Network
Bitcoin was the first cryptocurrency to revolutionize the financial world in 2009. Then came Ethereum who took the cryptographic transactions to a next level and introduced the smart contracts in 2014. Now ERC20 tokens are taking advantage of both Bitcoin and Ethereum to solve different problems with Ethereums smart contracts.
ERC20 tokens are tokens using the Ethereum protocol that has passed a standard test. Once they are accepted to the ERC (Ethereum Request for Comment) they are able to interact with the Ethereum network to build smart contracts, create a currency, asset or virtual share and has many other applications for use.
Here are the top five cryptocurrencies build on the ERC20 according to their market cap.
#1 EOS (EOS)
EOS is building an infrastructure for decentralized applications competing with Ethereum itself. Engineered by the crypto legend Dan Larimer, it has a market cap of $4.4 Billion at the time of writing. Their Delegated Proof Of Stake system offers developers services such as user authentication, cloud storage, and server hosting with C++ being the main programming language.
#2 Tron (TRX)
An ambitious project that wants to create a decentralized internet to allow everyone to freely create content, websites, and applications, without relying on centralized services. With a market cap of $2 Billion, its founder Justin Sun being a big factor to bring in a lot of investors due to his partnership announcement tactics on Twitter.
#3 Binance Coin (BNB)
The largest crypto exchange in the world offers investors the chance to invest in their cryptocurrency as well. The market cap is valued at $1.5 Billion. Recent reports claim that Binance is set to move their HQ to Malta due to its crypto friendly regulations.
#4 Vechain (VEN)
The project is looking to fight counterfeit with blockchain technology and has a market cap of $1.3 Billion. They have been one of the biggest winners in the recent market dip due to product advancements and a major partnership with the Chinese government.
#5 OmiseGo (OMG)
OmiseGo had an ICO that raised $25 Million back in July 2017 and is worth over $1 Billion. Their South East Asian origins made them want to work on their project to bank the unbank (The region sees a 70% of its citizens unbanked).
ERC20 tokens are becoming far more popular. Recently Coinbase announced their future support for such tokens which means some of the cryptocurrencies above can soon be listed by the startup.