FinTech Magazine December 2023 | Page 53

Dogecoin
ADA ( Cardano )
TOP 10

07

Dogecoin

Market cap : US $ 10.8bn

08

ADA ( Cardano )

Market cap : US $ 10.7bn
Public blockchain platform Cardano operates an opensource , decentralised blockchain platform that facilitates peerto-peer transactions with its internal cryptocurrency , ADA . The platform ’ s development was led by Ethereum Co-founder Charles Hoskinson and is overseen by the Cardano Foundation in Switzerland . Much like Solana and TRON , Cardano employs the use of a proof-of-stake model , a more sustainable and environmentallyfriendly option than proof-of-work models . Launched in 2017 , Cardano reached a record-high market capitalisation of US $ 77bn in 2021 , the fourth highest of any blockchain platform at the time . It is now valued at US $ 10.7bn .
Dogecoin , which was created by software engineers Jackson Palmer and Billy Markus , is an altcoin traded against fiat and other cryptocurrencies . Initially founded as a joke , or the world ’ s first “ meme coin ”, Dogecoin has developed into a legitimate investment prospect . The altcoin ’ s value boomed in 2021 by more than 800 % in the space of 24 hours – and has been subject to turbulent crypto market conditions ever since . This even includes a price increase when X owner Elon Musk temporarily changed the X app ’ s logo to a Doge logo .