A Comparative Study of Top Ten Leading Cryptocurrencies in 2024

Authors

  • Salam Al-E'mari University of Petra Author https://orcid.org/0000-0002-2134-4158
  • Dr. Yousef Sanjalawe Department of Information Technology, King Abdullah II School for Information Technology, University of Jordan (UJ), Amman, Jordan Author https://orcid.org/0000-0002-4442-1865
  • Ms. Ahalm Al-E'mari Department of Finance, School of Business, University of Jordan (UJ), Amman, Jordan Author

DOI:

https://doi.org/10.71202/paper22

Keywords:

Cryptocurrencies , Consensus Mechanisms , DeFi, dApps , Transaction Speed , Security

Abstract

This study compares ten leading cryptocurrencies in 2024 based on transaction speed, costs, consensus mechanisms, scalability, and security. Solana leads in transaction speed (65,000 TPS) and scalability, while BNB and TRON offer optimal cost efficiency with fees under $0.1. Bitcoin and Ethereum, despite slower speeds and higher costs, maintain superior security ratings (9.8/10 and 9.5/10) and market trust. Furthermore, Stablecoins (Tether, USD Coin) demonstrate consistent performance in value preservation and liquidity. XRP shows particular strength in cross-border payments with 1,500 TPS and low fees. The analysis reveals that cryptocurrency selection should prioritize specific use-case requirements: Bitcoin/Ethereum for high-value transactions and security, Solana/BNB for DeFi applications, and stablecoins for stable value transfer. No single cryptocurrency excels across all metrics, highlighting the importance of matching digital assets to specific operational needs.

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Published

2025-01-13

Issue

Vol. 1 No. 1 (2025): Al-Basaer journal of Business Research

Section

Articles