Bitcoin has lead the crypto world for such a long time, and so dominantly that the terms crypto and Bitcoin tend to be used interchangeably. However, the stark reality is, the digital currency does not merely comprise of Bitcoin. There are many other cryptocurrencies which are part of the crypto world. The objective of this post is to educate our readers on cryptocurrencies other than Bitcoin to provide them with a wide variety of options to select from – when they intend on making crypto investments.
So let’s get going with the first name on our list, that’s:
Launched in 2011, Litecoin is usually referred to as’silver to Bitcoin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – may be the founder of Litecoin.
Much like Bitcoin, Litecoin is a decentralized, open source payment network which functions without a main authority best ethereum mining hardware.
Litecoin is similar to Bitcoin in lots of ways and often leads people to think: “Why don’t you go with Bitcoin? Both are similar! “.Here’s a catch: the block generation of Litecoin is even more quickly than that of Bitcoin! and this is the key reason why merchants around the world are becoming more available 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 the downtime.
The applications on Ethereum platform require a particular cryptographic token – Ether. In line with the core developers of Ethereum, the token can be utilized to trade, secure, and decentralize nearly 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 most popular and is right behind Bitcoin.
Zcash arrived on the scene in the later part of 2016. The currency defines itself as: “if Bitcoin is much like http for money, Zcash is https “.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers the choice of’shielded’transaction and so the users can transfer data in the form of encrypted code.
Dash is originally a secretive version of Bitcoin. It can also be known as’Darkcoin’because secretive nature.
Dash is popular for offering an enhanced 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 then, it’s experienced a sizable fan following over an extremely 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, a characteristic 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 keep and will soon be giving Bitcoin a genuine tough time to maintain its stature.