Bitcoin has lead the crypto world for so very long, so dominantly that the terms crypto and Bitcoin are typically used interchangeably. Nevertheless, the simple truth is, the electronic currency does not only comprise of Bitcoin. There are several other crypto currencies which are a part of the crypto world. The purpose of this post is usually to educate our readers on cryptocurrencies aside from Bitcoin to provide them with a wide range of selections to choose from – if they intend on making crypto-investments.
So why don’t we get started with the first name on the list of ours, that is:
Launched in 2011, Litecoin is typically referred to as’ silver to Bitcoin’s gold.’ Charlie Lee – Former engineer and mit graduate at Google – may be the founding father of Litecoin.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network which functions without a central authority.
Litecoin is similar to Bitcoin in ways that are many and often leads consumers to think: “Why not go with Bitcoin? Both are similar!”. Here’s a catch: the block generation of Litecoin is much quicker than that of Bitcoin! and this’s the key reason why merchants all over the world are becoming much more amenable to accepting Litecoin.
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be developed and managed without any downtime.
download ethlargementpill on Ethereum platform require a specific cryptographic token – Ether. As per the key developers of Ethereum, the token can be used to trade, secure, and decentralize nearly anything.
Ethereum experienced an attack in 2016 which saw the currency split into 2 parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies, Ethereum is second most widely used and is right behind Bitcoin.
Zcash came out in the later part of 2016. The currency defines itself as: “if Bitcoin is as http for money, Zcash is https”.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers an opportunity of’ shielded’ transaction so the users are able to transfer data in the form of encrypted code.
Dash is originally a secretive version of Bitcoin. It’s sometimes known as’ Darkcoin’ resulting from its secretive nature.
Dash is popular for offering an expanded anonymity which allows its users to make transactions impossible to trace.
The currency first appeared on the canvas of digital market in the year 2014. Since that time, it has experienced a big fan following over an incredibly brief span of time.
With a market capitalization of over $1bn, Ripple is the final name on our list. The currency was launched in 2012 and has instant, secure, and low-cost payments.
The consensus ledger of Ripple does not require mining, a feature which makes it different from Bitcoin and other mainstream crypto currencies.
The absence of mining reduces the computing power which ultimately minimizes the latency and makes transactions faster.
Although Bitcoin continues to lead the pack of crypto, the rivals are picking up the pace. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity each day. Going by the trend, another cryptos are here to stay and will soon be giving Bitcoin a real hard time to maintain its stature.