The ABCDE of Cryptos: From Avalanche to Ether


Cryptocurrency is part of the future of money, but that doesn’t mean much if you don’t know how to understand a crypto, how to assess its potential, or what metrics you need to pay attention to. But for people just starting out, here’s an introduction to get you started on your search. If you can’t or don’t want to do your own research, you can focus on these five cryptos.

  • A = Avalanche
  • B = bitcoin
  • C = chain link
  • D = Decentralized
  • E = Ether

Now let’s take a quick dive into these 5 cryptos. But before that, I want you to read the crypto metrics we discussed earlier. And some things to remember – figures mentioned are as of November 19, 2021 and have been rounded. Market cap = current price x circulating supply. And Volume (24h) is the fiat value of this crypto traded in the last 24 hours.

A = Avalanche (AVAX)

Avalanche is one of the largest decentralized finance (DeFi) blockchains. What I like the most is that it allows me to run custom private and public blockchains.

Avalanche has an incredible transactional throughput of 4500 tps. The others are very low in comparison – Bitcoin (7 tps), Ethereum (14 tps), Polkadot (1500 tps).

AVAX is the native token of Avalanche and it can be used for staking, paying fees and providing unit of account between the multiple subnets created on Avalanche.

Some of the main AVAX metrics are:

Price $103
An absolute record $110.31
All time low $2.79
Market capitalization $22.8 billion
Volume $1.9 billion

B = Bitcoin (BTC)

Bitcoin (BTC) is the world’s first and largest cryptocurrency. In fact, the word “blockchain” is derived from its white paper. In September 2021, El Salvador became the first country in the world to recognize Bitcoin as legal tender.

Today, many leading financial institutions and large corporations are beginning to hold and trade bitcoins. We have seen the emergence of Bitcoin ETFs (Exchange Traded Funds). Many people also envision Bitcoin becoming a store of value and overtaking the market capitalization of gold.

Bitcoin was not pre-mined, which means that no coins were distributed among the founders before Bitcoin was released to the public.

Some of the main BTC metrics are:

Price $56,920
An absolute record $68,789.63
All time low $65.53
Market capitalization $1 trillion
Volume $43 billion

C = chain link (LINK)

PICTURE

The problem that oracles solve is, “How can a smart contract get data from the outside world?”. Oracles act as middleware between smart contracts and external data sources. Chainlink is a decentralized network of independent oracle node operators.

LINK is the crypto token used to pay Chainlink node operators for providing oracle services.

Some of the main LINK metrics are:

Price $27
An absolute record $52.88
All time low $0.1263
Market capitalization $12.8 billion
Volume $1.2 billion

D = Decentralized (MANA)

The Metaverse is a parallel “digital universe” where you can create your digital avatar and do all sorts of cool things: learn, play, party and more! Decentraland builds some really cool stuff in the metaverse and has 2 cryptos – MANA and LAND.

MANA is a fungible ERC20 token that can be spent to purchase EARTH which is an Ethereum ERC-721 token (non-fungible). Besides the virtual earth, you can also buy avatars, clothes, and even names from the Decentraland marketplace.

Some of the main MANA metrics are:

Price $3.96
An absolute record $4.69
All time low $0.007883
Market capitalization $8.7 billion
Volume $7.1 billion

E = Ether (ETH)

PICTURE

Ethereum is neither a blockchain nor a cryptocurrency – it is a protocol (a set of rules or procedures). The original Ethereum-powered public blockchain split into two blockchains – Ethereum and Ethereum Classic – after the 2016 Decentralized Autonomous Organization (DAO) hack.

The Ethereum public blockchain is the world’s largest and most popular decentralized finance (DeFi) platform and its native crypto is Ether (ETH). ETH is the fuel for running decentralized smart contracts on the Ethereum blockchain.

Some of the major ETH metrics are:

Price $4,146
An absolute record $4,869.5
All time low $0.4209
Market capitalization $492 billion
Volume $23.4 billion

Rohas Nagpal is the author of the Future Money Playbook and chief blockchain architect of the Wrapped Asset Project. He is also a retired amateur boxer and hacker. You can follow him on LinkedIn.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, Gadgets 360 Podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get it. your podcasts.

Cryptocurrency is an unregulated digital currency, which is not legal tender and is subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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