Bitcoin has lead the crypto world for so very long, so dominantly that the terms crypto and Bitcoin are typically used interchangeably. But, the simple truth is, the electronic currency doesn’t only comprise of Bitcoin. There are many other crypto currencies which are a part of the crypto world. The objective of this post is to educate our audience on cryptocurrencies aside from Bitcoin to provide them with a wide range of alternatives to choose from – if they intend on making crypto investments.
So let’s get started with the very first name on our list, that is:
Launched in 2011, Litecoin is usually referred to as’ silver to Bitcoin’s gold.’ Charlie Lee – Former engineer and mit graduate at Google – will 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 much like Bitcoin in ways which are many and often leads people 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 is the reason why merchants worldwide are becoming a lot more receptive to accepting Litecoin.
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be created and operated without any downtime.
The applications on Ethereum platform require a specific cryptographic token – Ether. Based on the key developers of Ethereum, the token can be used to trade, secure, and decentralize almost 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 like http for money, Zcash is https”.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also provides the option 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 commonly known as as’ Darkcoin’ as a result of 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 large fan following over an extremely quick span of time.
With a market capitalization of more than $1bn, Ripple is the final name on the list of ours. The currency was launched in 2012 and offers instant, secure, and low-cost payments.
The consensus ledger of Ripple does not require mining, a feature which tends to make it different from Bitcoin and other mainstream crypto currencies.
The lack 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. buy crypto mining hardware like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity on a daily basis. Going by the trend, another cryptos are here to stay and will be giving Bitcoin a real tough time to maintain its stature.