Bitcoin has lead the crypto world for such a long time, therefore dominantly that the terms crypto and Bitcoin are usually used interchangeably. Nevertheless, the reality is, the electronic currency doesn’t only comprise of Bitcoin. You’ll find so many other crypto currencies which are a component of the crypto world. The aim of this post is to try to prepare the audience of ours on cryptocurrencies apart from Bitcoin to provide them with a wide range of options to choose from – if they intend on making crypto investments.
So let’s get started with the first name on the list of ours, that is:
Launched in 2011, Litecoin is generally referred to as’ silver to Bitcoin’s gold.’ Charlie Lee – mit graduate and Former engineer at Google – may be the founder of Litecoin.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network which functions without a central authority.
Litecoin is comparable to Bitcoin in ways that 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 faster than that of Bitcoin! and this’s the key reason why merchants around the world are becoming much 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 run without any downtime.
The applications on Ethereum platform require a specific cryptographic token – Ether. As per the main developers of Ethereum, the token can be used to trade, secure, and decentralize virtually 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 favored 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 privacy, security, and transparency 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’ on account of its secretive nature.
buy crypto mining hardware is popular for offering an expanded anonymity which allows the users of its to make transactions impossible to trace.
The currency first appeared on the canvas of digital market in the year 2014. Since that time, it’s experienced a large fan following over an incredibly short 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 provides low-cost, secure, and instant payments.
The consensus ledger of Ripple doesn’t require mining, a feature which makes 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. Currencies like Ripple and Ethereum have surpassed Bitcoin in enterprise solutions and are growing in popularity every day. Going by the trend, another cryptos are here to stay and will quickly be giving Bitcoin a real hard time to maintain its stature.