Bitcoin has lead the crypto world for such a long time, and so dominantly that the terms crypto and Bitcoin are often used interchangeably. However, the fact remains, the digital currency does not just comprise of Bitcoin. There are numerous other cryptocurrencies that are area of the crypto world. The purpose of this post is always to educate our readers on cryptocurrencies apart from Bitcoin to provide them with a wide selection of options to choose from – should they intend on making crypto investments.
So let’s begin with the first name on our list, that’s:
Launched in 2011, Litecoin is frequently referred to as’silver to Bitcoin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – could be the founder of Litecoin mining hardware comparison.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network which functions without a main authority.
Litecoin resembles Bitcoin in lots of ways and often leads people to think: “Why don’t you choose Bitcoin? Both are similar! “.Here is a catch: the block generation of Litecoin is even faster than that of Bitcoin! and this really is the primary reason why merchants around the globe are becoming more open to accepting Litecoin.
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be built and run without any downtime.
The applications on Ethereum platform require a certain cryptographic token – Ether. According to the core developers of Ethereum, the token can be used to trade, secure, and decentralize more or less anything.
Ethereum experienced an attack in 2016 which saw the currency split into two parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies, Ethereum is second hottest and is directly behind Bitcoin.
Zcash came out in the later section of 2016. The currency defines itself as: “if Bitcoin is much like http for cash, Zcash is https “.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers the possibility of’shielded’transaction therefore the users can transfer data in the proper execution of encrypted code.
Dash is originally a secretive version of Bitcoin. It can be referred to as’Darkcoin’due to 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 season 2014. Since that time, it has experienced a sizable fan following over a very short span of time.
With a market capitalization of over $1bn, Ripple is the past name on our list. The currency was launched in 2012 and offers instant, secure, and low-cost payments.
The consensus ledger of Ripple doesn’t require mining, an element rendering it distinctive 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 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 be giving Bitcoin a genuine tough time to maintain its stature.