Despite the exponential growth in this last year of competing blockchains, such as Solana, Ethereum is still the one most widely used by crypto project developers for new altcoins.
Summary
ERC20 tokens
The standard that Ethereum uses for its tokens is called ERC20 and, since its introduction in 2015, over 190,000 tokens have been created that are compatible with Ethereum’s mainnet.
It is a standard for smart contracts that are used by the blockchain for transactions. It can be defined as a set of rules that must be followed to develop a project on the platform.
Let’s take a closer look at what are the 7 best projects developed with this cryptographic standard.
Best altcoins on Ethereum
Tether (USDT)
Tether is the leading stablecoin currently in circulation. According to recent data, USDT accounts for over 40% of all ERC-20-based transfers globally. It is controlled by the company Bitfinex. Recently, its exponential growth in the markets has even worried the Fed.
USD Coin (USDC)
USD Coin is one of the leading stablecoins, i.e. cryptocurrencies whose value is closely tied to an underlying fiat, such as dollars or euros. It has long been considered the most dangerous rival to the leading stablecoin by capitalisation, which is Tether. It is pegged to the dollar and with a capitalization of $34 billion is in ninth place in the crypto capitalization rankings.
Shiba Inu (SHIB)
In the last two years, another meme coin, Shiba Inu, has been competing with DOGE. In the last year, it has achieved record rises, surpassing even Dogecoin itself, quickly earning the nickname DogeKiller.
ChainLink (LINK)
This is the cryptocurrency of the Chainlink project, which serves to remunerate participants in the project that aims to connect and make the various blockchains on the market interact with each other and with external data. The currency has a current capitalization of around $14 billion.
Wrapped Bitcoin (WBTC)
WBTC is a token that represents Bitcoin but within the Ethereum ecosystem. It is a kind of fork of Bitcoin to allow those on the Ethereum platform to have Bitcoin liquidity with the certainty of 1:1 exchange at any given time.
Decentraland (MANA)
Decentraland (MANA) is a virtual platform, based on the metaverse that has partitioned the world into 90,601 pieces of land. Users can buy and sell these portions of land thanks to the native MANA cryptocurrency, which powers the ecosystem. Following Facebook’s announcement that it would focus on the metaverse, MANA reached an all-time high in its share price.
Uniswap (UNI)
Uniswap (UNI) is the leading decentralized exchange, allowing tokens to be exchanged on its platform without the intervention of any intermediary. It uses a mechanism called the “constant product market maker model” for pricing. Any token can be added to the decentralized platform, funding it with an equivalent value of ETH and ERC20 tokens traded.
