Bitcoin is the first crypto asset brought to the world. Its inception has changed the world of digital finance around the world. Bitcoin is the gold standard of the crypto ecosystem. Being the first, it still leads after 16 years. With time, as the ecosystem progresses, the utility and scalability of crypto tokens have grown exponentially. Bitcoin has an ecosystem of tokens enhancing the utility and scalability of its blockchain. Here are some such tokens to look for in 2024.
Top 10 Best Bitcoin Ecosystem Tokens of 2024
| Token | Market Capitalisation |
| Bitcoin Cash (BCH) | $11.9 Billion |
| Internet Protocol | $7.8 Billion |
| Stacks (STX) | $4.9 Billion |
| BitCoin SV (BSV) | $1.7 Billion |
| ORDI (ORDI) | $1.2 Billion |
| Bitcoin Gold (BTG) | $813 Million |
| Zeta Chain (Zeta) | $477.6 Million |
| Threshold (T) | $445 Million |
| QTUM (QTUM) | $444.7 Million |
| Wrapped Bitcoin (WBTC) | $10.3 Billion |
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is designed as a peer-to-peer electronic cash system aiming to establish itself as a reliable global crypto asset featuring swift transactions, minimal fees, enhanced privacy, and increased block size. Operating as a decentralised crypto without trusted intermediaries, Bitcoin Cash emerged from a blockchain split triggered by community disagreements regarding Bitcoin’s scalability and the implementation of the SegWit upgrade.
Read more: What is Bitcoin Cash (BCH)
Internet Protocol (ICP)
The Internet Computer (ICP) blockchain introduces a groundbreaking approach to blockchain architecture, leveraging advancements in cryptography. It offers a unique “World Computer” blockchain capable of constructing a wide range of online systems and services, even complex web social media platforms, without relying on conventional IT infrastructure like cloud services. This innovation paves the way for achieving complete decentralisation from start to finish. The ICP blockchain integrates with the Bitcoin network.
Read more: How does Internet Computer (ICP) work
Stacks (STX)
Stacks (STX) serves as a Bitcoin Layer designed for smart contracts, allowing smart contracts and decentralised applications to leverage Bitcoin as an asset and finalise transactions on the Bitcoin blockchain. Through its Proof of Transfer consensus mechanism and Clarity programming language, Stacks possesses comprehensive knowledge of the entire Bitcoin state, granting it the ability to access Bitcoin data whenever necessary.
Every transaction conducted on the Stacks layer is automatically hashed and confirmed on the Bitcoin L1. The security of Stacks blocks is ensured by 100% Bitcoin hashpower. Any attempt to rearrange Stacks blocks or transactions would necessitate a reorganisation of the Bitcoin blockchain.
Bitcoin SV (BSV)
BSV asserts its commitment to realising the initial vision outlined in Satoshi Nakamoto’s white paper, early Bitcoin client software, and documented writings. By aligning with the original concept of Bitcoin as a peer-to-peer electronic cash system, BSV strives to provide scalability and reliability. Additionally, BSV aims to establish a decentralised data network capable of accommodating sophisticated blockchain applications at an enterprise level.
ORDI (ORDI)
The Ordinals protocol (ORDI) is utilised to encode content onto satoshis. This process does not require the use of separate tokens, side chains, or alterations to Bitcoin itself. Instead, the Ordinals protocol enables the embedding of various data types such as text, images, audio, and video directly onto each satoshi. Due to constraints within Bitcoin blocks, inscriptions primarily consist of text and images, often in the form of NFTs and tokens.
Read more: What are Bitcoin Ordinals
Bitcoin Gold (BTG)
Bitcoin Gold (BTG) was established in 2017 to offer a more user-friendly option compared to Bitcoin. The BTG network aims to merge the robust security features of the Bitcoin blockchain with a platform that encourages innovation and growth.
ZetaChain (ZETA)
ZetaChain is a new Layer 1 solution that comes with built-in interoperability across different blockchains (compatible with EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, etc.). Currently, developers leverage ZetaChain’s messaging features to seamlessly transfer data and native value directly between various blockchains without the need to wrap assets.
Threshold (T)
The Threshold network offers a range of cryptographic tools for various decentralised applications (dApps). This network came into being through the merger of the Keep Network and NuCypher protocols, culminating in the launch of the T token on January 1, 2022.
QTUM (QTUM)
Qtum, pronounced as “quantum,” is a blockchain platform and value transfer protocol based on proof-of-stake (PoS) consensus. It aims to combine the best features of Bitcoin and Ethereum into a single platform. Qtum utilises Bitcoin’s UTXO transaction model while incorporating smart contract capabilities and decentralised applications (DApps). The platform also supports decentralised finance (DeFi) applications.
Wrapped Bitcoin (WBTC)
Wrapped Bitcoin (WBTC) is a tokenised representation of Bitcoin (BTC) designed to operate on the Ethereum (ETH) blockchain.
WBTC adheres to the ERC-20 standard, which is the fundamental compatibility protocol of the Ethereum blockchain. This compliance enables seamless integration of WBTC into Ethereum’s ecosystem, including decentralised exchanges, crypto lending platforms, prediction markets, and various other decentralised finance (DeFi) applications that support ERC-20 tokens.
Conclusion
Bitcoin ecosystem has several tokens striving for never-before-seen solutions to grow the utility, adoption and scalability. These are being used in DeFi, DApps, games etc. There has been a surge in the crypto market, since the start of the year 2024. It will be interesting to see the performance of the mentioned tokens. We recommend you research each token before making any decision of investment.
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