List of All Ethereum Coins and Tokens
December 2023

What is Ethereum Blockchain?

Ethereum is the second most popular cryptocurrency with its native blockchain network that allows users to create decentralized apps and smart contracts. While Bitcoin is an alternative for national currencies, Ethereum aims to be an alternative for centralized apps. Ethereum was founded by Vitalik Buterin, Charles Hoskinson, Anthony Di Lorio, and Gavin Wood. Ethereum is the father of DeFi and NFTs. Before Ethereum was founded, Bitcoin or Dogecoin-like cryptocurrencies were meant to be used as currency only. Exploration of the creation of decentralized and distributed computing power was started with Ethereum. While Bitcoin has a long and proven history, still faces confrontations about extreme power consumption with environmental effect. Ethereum Network slightly decreased the full capacity security of Bitcoin and lowered the computing power required to logs and confirmations of transactions, and used excessive computing power as a server or a host for real-life use cases, such as websites and apps.

What are the problems does Ethereum face?

The leading cryptocurrency Ethereum faces some problems too. The biggest problem with the network is its gas fees. Transactions on the blockchain require high costs. Both Bitcoin and Ethereum are considered Layer 1 blockchains. Different blockchains are aiming to scale Ethereum. They are called Layer 2 blockchains. Polygon is a leading Layer 2 solution project for Ethereum. Many different projects are aiming to scale the Ethereum network. For example, Metis, Arbitrium, and Loopring are the ones.

What are the Tokens and NFTs on Ethereum Blockchain?

Being a pioneer blockchain network that allows decentralized apps and smart contracts made Ethereum the biggest host for various Dapps. Roughly more than 3000 decentralized applications are running on the Ethereum blockchain and many of those have their native tokens built with Ethereum (ERC) standards. There are more than 500,000 ERC-20 tokens on the market right now.

The ERC-20 is the standard to create and issue tokens on the Ethereum blockchain network. ERC stands for Ethereum request for comment. The ERC-20 standards determine the total supply, balance, allowance, transfer, and approval criteria of the token.

Smart contracts enable developers to issue Nun-fungible Tokens (NFT) on the Ethereum blockchain. Ethereum is the first NFT compatible blockchain with its smart contract futures. NFTs are growing very fast in the crypto market because their real-life use cases are wide. NFTs are promising innovations for future technology.

Ethereum is the biggest driving force behind the most popular cryptocurrencies and tokens. Ethereum tokens are smart contracts built on the Ethereum blockchain. The most popular ERC-20 tokens are Wrapped Bitcoin (WBTC), Tether (USDT), Shiba Inu (SHIB), Maker (MKR), Chainlink (LINK), and the OMG Network (OMG).

All the tokens and NFTs built on Ethereum worth more than 200 Billion USD by 2022 March. It is called Total Value Locked (TVL). Total Value Locked means the total value of all coins, tokens, and NFTs on Ethereum Blockchain combined.

Difference between NFT and Token?

NFTs are single unique tokens, they can be issued just one token. It is unique and nothing is similar to this unique smart contract-based single token. The tokens are identical to each other no matter what the maximum supply is. The tokens can be issued in million. or billions. All of them will be identically the same. They will perform the same way, they will work the same way.

How to purchase new tokens?

There is a constantly growing ecosystem under the Ethereum Network. Each new project or platform issues its own native tokens as a utility token for its services. There are different launchpad platforms where users can purchase at the token’s initial coin offering (ICO). Unlike other major blockchains like Avalaunch on Avax, Solanium on Solana, or Polkastarter on Polkador, Ethereum doesn’t have an official launchpad platform but there are several platforms where you can purchase new tokens at a discounted price. Ignition launchpad platform on Paid Network or DAO Pad on DAO Maker some one of them.

What are The Most popular ERC-20 Tokens?

USDT, and USDC

Tether (USDT) and USD Coin (USDC) are the most used stablecoins initially created on the Ethereum blockchain network as ERC-20 tokens. Now they are also created on other blockchains too. But the majority of those tokens are still on Ethereum Blockchain.

Shiba INU

Shiba Inu (SHIB) is the second biggest meme token and one of the biggest cryptocurrencies with its market cap placing it among the first 20 on the list. Shiba Inu was created as an ERC-20 token but the community behind the meme coin announced that Shiba Inu will create its own blockchain.

Chainlink

Chainlink is an ERC677 token that is an extension of ERC20 standards. ChainLink (LINK) is a program created as a smart contract on the Ethereum network. ChainLink provides communication between off-chain data and on-chain data. Link operates in an automated way and it has been running since 2017 with no hack or breach.

Maker

Maker (MKR) is an Ethereum based leading decentralized finance application. Users can lock Ethereum and mint DAI stablecoins on the platform. The platform’s native tokens are MKR built as ERC20 tokens.

Loopring

Loopring is a mixed application with one side being decentralized and the other side being centralized. Loopring is a leading finance protocol supported by both decentralized blockchain and centralized companies. Loopring allows users to create independent platforms based on its protocol. Loopring protocol’s native utility tokens are LRC. LRC is an ERC20 token.