What blockchains can be found on WhiteBIT?

WhiteBIT
Published 04 October 2021

What blockchains can be found on WhiteBIT?

Blockchain is a data register that contains all information about the transactions carried out within the network. All transaction data remains registered and cannot be changed. Bitcoin is the most famous blockchain nowadays. The technologies, however, do not stand still, and the emergence of alternatives is pretty natural. 

Let’s look at the characteristics of the cryptocurrencies that you can find on our exchange. Here’s what you should pay attention to when considering a particular blockchain:

  • The consensus algorithm is a mechanism used to achieve agreement on the principles of operation within the network.
  • Emission refers to how quickly new coins are released. 
  • Transaction fees.

You can find information about the deposit and withdrawal fees, as well as the amount of the minimum deposit and the minimum withdrawal amount, on the Fees page.

BTC

Bitcoin is the world’s first cryptocurrency, whose blockchain has become the gold standard for various projects operating nowadays. However, low transaction speed caused by the quantitative growth of transactions is one of the main problems that Bitcoin enthusiasts face. A distinctive feature of Bitcoin is that the network is decentralized; no authorities can make serious decisions about the network optimization fast. It is done by the community of users who store, sell, mine, and buy cryptocurrency, thereby ensuring the network’s life.

Consensus algorithm: Proof-of-Work

Emission: max. supply of 21 mln BTC

WhiteBIT minimum deposit: 0.0005 BTC 

WhiteBIT withdrawal fee: 0.0004 BTC

Buy Bitcoin — BTC/USDT

ETH

Ethereum is the second most popular blockchain, designed to implement projects based on smart contracts. The invention of smart contracts is a revolutionary step towards introducing blockchain technologies to the world of finance and other areas of everyday life. Thanks to smart contracts, it became possible to create Ethereum-based applications that work according to clear general rules, without the risk of large-scale failures and fraud.

Consensus algorithm: Proof-of-Work, with a perspective to change to PoS

Emission: unlimited

WhiteBIT minimum deposit: 0.01 ETH

WhiteBIT withdrawal fee: 0.004 ETH

Buy ETH — ETH/USDT

XRP

Unlike Ethereum, the blockchain code of XRP was written from scratch at the request of venture capital funds. It was created to increase speed and reduce transaction fees. XPR is considered one of the fastest cryptocurrencies. The platform can process up to 1,500 transactions per second, while for BTC, it equals 7-10, and for ETH — 35 transactions.

Consensus algorithm: Ripple Protocol consensus algorithm

Emission: max. supply of 100 bln XRP.

WhiteBIT minimum deposit: 1 XRP

WhiteBIT withdrawal fee: 0.25 XRP

Buy XRP — XRP/USDT

XLM

Stellar is a direct competitor to the Ripple blockchain, which aims to become the main decentralized payment system. The idea behind Stellar is to create bridges through which it will be easier for users to deposit and withdraw funds. In this case, the cryptocurrency will be used to pay the fees, as well as the “bridge” for converting one currency into another.

Consensus algorithm: Stellar Consensus Protocol

Emission: max. supply of 50 001 806 812 XLM.

WhiteBIT minimum deposit: 10 XLM

WhiteBIT withdrawal fee: 0.2 XLM

Buy XLM — XLM/USDT

TRX

The TRON blockchain is another popular platform for launching and implementing DApps based on smart contracts. The project encourages content creators to use their platform as a basis for innovative projects and ideas. TRX throughput is relatively high and equals 2000 transactions per second.

Consensus algorithm: Delegated Proof-of-Stake

Emission: max. supply of 100 bln TRX

WhiteBIT minimum deposit: 50 TRX

WhiteBIT withdrawal fee: 1 TRX

Buy TRX — TRX/USDT

NEO

At its launch in China, NEO was the first public blockchain, positioning itself as the start of a new era of the Internet economy. A distinctive feature of the blockchain is the presence of two own tokens — NEO and GAS. The first one is an investment token; its holders can participate in voting on crucial technical changes. GAS is used to pay transaction fees.

Consensus algorithm: Delegated Byzantine Fault Tolerance

Emission: max. supply of 100 mln NEO.

WhiteBIT minimum deposit: 1 NEO

WhiteBIT withdrawal fee: 0

Buy NEO — NEO/USDT

EOS

EOS is a platform that supports DApps and issues its own cryptocurrency. The blockchain architecture is designed for vertical and horizontal scaling of decentralized applications. Only 10% of EOS tokens are distributed among developers through smart contracts for a period of 10 years. In addition, storing EOS tokens gives users a share of the network’s traffic capacity.

Consensus algorithm: Delegated Proof-of-Stake (DPoS)

Emission: max. supply of 1 bln EOS.

WhiteBIT minimum deposit: 1 EOS

WhiteBIT withdrawal fee: 0.5 EOS

Buy EOS — EOS/USDT

WAVES

Waves is an open-source blockchain platform that supports DApps and smart contracts. The project aims to optimize early blockchains, create a universal multipurpose blockchain, and unite various business audiences. It seeks to maintain simplicity and ease of use, promotes the introduction of blockchain technologies into the daily life of users. After the update, two types of smart contracts became available: smart accounts and smart assets.

Consensus algorithm: Leased Proof-of-Stake (LPoS)

Emission: max. supply of 1 mln WAVES.

WhiteBIT minimum deposit: 1 WAVES

WhiteBIT withdrawal fee: 0.005 WAVES

Buy WAVES — WAVES/USDT

XMR

Monero blockchain is distinguished by the ability to carry out anonymous transactions. Users can receive and transfer cryptocurrency anonymously while maintaining their privacy as much as possible. Ring signatures and hidden addresses ensure the anonymity of the network.

Consensus algorithm: Proof-of-Work RandomX

Emission: unlimited

WhiteBIT minimum deposit: 0.01 XMR

WhiteBIT withdrawal fee: 0.005 XMR

Buy XMR — XMR/USDT

DOT

Polkadot is a multi-blockchain that brings together multiple blockchains “under one roof” to improve scalability and other weak spots of traditional blockchains. The project aims to change the Internet structure to Web3, where independent blockchains will exchange information within Polkadot. One of the main goals of the project is to remove system-wide updates and hard forks.

Consensus algorithm: Nominated Proof-of-Stake

Emission: max supply of 1 bln DOT (after denomination)

WhiteBIT minimum deposit: 1.06 DOT

WhiteBIT withdrawal fee: 0.2 DOT

Buy DOT — DOT/USDT

ICX 

ICON focuses on improving the interoperability of blockchain technologies. Independent blockchains like Bitcoin and Ethereum can exchange information seamlessly with the ICON protocol while maintaining their complete autonomy. The ICON network operates on a patented loopchain mechanism and provides the ability to process hundreds of transactions per second.

Consensus algorithm: LFT (Loop Fault Tolerant)

Emission: unlimited

WhiteBIT minimum deposit: 12.5 ICX

WhiteBIT withdrawal fee: 2.5 ICX

Buy ICX — ICX/USDT

XTZ

Tezos is a blockchain created to exchange assets and implement projects based on smart contracts. Its distinctive feature is the ability to carry out updates without hard forks. Due to this fact, the blockchain can adapt to changing technological conditions. The developers update the code, and the stakeholders support or reject a proposed change by voting.

Consensus algorithm: Delegated Proof-of-Stake 

Emission: unlimited

WhiteBIT minimum deposit: 1.65 XTZ

WhiteBIT withdrawal fee: 0.35 XTZ

Buy XTZ — XTZ/USDT

KSM

Kusama has a purpose similar to Polkadot’s; it focuses on the interoperability and scalability of blockchains. The blockchain stands out for its low entry threshold for parachains and low requirements for validators. The network is decentralized, which allows anyone who owns KSM or parachain tokens to bring forward administrative changes.

Consensus algorithm: Nominated Proof-of-Stake 

Emission: unlimited

WhiteBIT minimum deposit: 0.015 KSM

WhiteBIT withdrawal fee: 0.0025 KSM

Buy KSM — KSM/USDT

DASH

DASH is a blockchain-based decentralized payment system allowing anonymous transactions. DASH payments are confidential; you just need to know the wallet address.

Consensus algorithm: Proof-of-Work, X11

Emission: max. supply of 18,900,000 DASH.

WhiteBIT minimum deposit: 0.025 DASH

WhiteBIT withdrawal fee: 0.002 DASH

Buy DASH — DASH/USDT

LTC

Litecoin is another fork of Bitcoin, a peer-to-peer payment system, and a cryptocurrency. The main difference between LTC and BTC is the speed of block creation. For LTC, it takes only 2.5 minutes to create a block. 

Consensus algorithm: Proof-of-Work 

Emission: max. supply of 84 mln LTC.

WhiteBIT minimum deposit: 0.01 LTC

WhiteBIT withdrawal fee: 0.001 LTC

Buy LTC — LTC/USDT

BCH

Bitcoin Cash is the most famous alternative to traditional Bitcoin, which appeared in 2017 simultaneously with the BTC update. BCH is more reminiscent of the original version of the BTC code since the information about transactions within the network is still recorded in the blockchain. The block size has changed from 1 MB to 8 MB, then to 32 MB, which increased the speed of transactions.

Consensus algorithm: Proof-of-Work 

Emission: max. supply of ​​21 000 000 BCH.

WhiteBIT minimum deposit: 0.015 BCH

WhiteBIT withdrawal fee: 0.0035 BCH

Buy BCH — BCH/USDT

BSV

Bitcoin SV (Satoshi’s Version) is a Bitcoin Cash hard fork that arose as a result of arguments over BCH technical upgrades. BSV was released with an even larger block size of 128 MB.

Consensus algorithm: Proof-of-Work 

Emission: max. supply of ​​21 000 000 BSV.

WhiteBIT minimum deposit: 0.03 BSV

WhiteBIT withdrawal fee: 0.006 BSV

Buy BSV — BSV/USDT

ZEC

Zcash is a cryptocurrency that focuses on anonymity and privacy. ZEC transactions are carried out in two ways: transparent and secure. In the first case, the transaction is carried out traditionally between open addresses and is recorded in the public register. When performing secure transactions, the addresses and the amount are not disclosed in the register.

Consensus algorithm: Proof-of-Work with a perspective to change to PoS

Emission: max. supply of ​​21 000 000 ZEC.

WhiteBIT minimum deposit: 0.04 ZEC

WhiteBIT withdrawal fee: 0.01 ZEC

Buy ZEC — ZEC/USDT

DOGE

The popular cryptocurrency meme Dogecoin is a fork of Luckycoin, which is a fork of Litecoin. The cryptocurrency differs from Bitcoin in terms of mining and block generation time.

Consensus algorithm: Proof-of-Work 

Emission: unlimited

WhiteBIT minimum deposit: 15 DOGE

WhiteBIT withdrawal fee: 5 DOGE

Buy DOGE — DOGE/USDT

ETC

Ethereum Classic is a fork of Ethereum (ETH) that has sought to differentiate itself from the updated network since its launch. The main goal of ETC is to keep the blockchain’s characteristics as they were before the network hack in 2016. Ethereum Classic (ETC) does not plan to move to PoS, unlike Ethereum (ETH).

Consensus algorithm: Proof-of-Work 

Emission: unlimited

WhiteBIT minimum deposit: 0.4 ETC

WhiteBIT withdrawal fee: 0.01 ETC

Buy ETC — ETC/USDT

BNB

Binance Coin is a cryptocurrency originally issued with the ERC-20 protocol on the Ethereum network. In 2019, ERC-20 BNB was exchanged for BEP2 BNB and is not based on Ethereum anymore. The coins are used as a means of payment and a way to pay commissions on the Binance exchange.

Consensus algorithm: Proof of Staked Authority 

Emission: max. supply of 200 BNB

WhiteBIT minimum deposit: 0.01 BNB

WhiteBIT withdrawal fee: 0.002 BNB

Buy BNB — BNB/USDT