Bitcoin has lead the crypto world for such a long time, and so dominantly that the terms crypto and Bitcoin in many cases are used interchangeably. However, the reality is, the digital currency does not merely comprise of Bitcoin. You’ll find so many other cryptocurrencies which can be area of the crypto world. The objective of this post would be to educate our readers on cryptocurrencies apart from Bitcoin to provide them with a wide selection of options to pick 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 known 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 really a decentralized, open source payment network which functions without a main authority.
Litecoin resembles Bitcoin in many ways and often leads people to believe: “Why don’t you go with Bitcoin? Both are similar! “.Here’s a catch: the block generation of Litecoin is faster than that of Bitcoin! and this really is the primary reason why merchants all over the world are becoming more open to accepting Litecoin mining hardware comparison.
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 specific cryptographic token – Ether. According to the core 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 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 part of 2016. The currency defines itself as: “if Bitcoin is much like http for the money, Zcash is https “.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers the possibility of’shielded’transaction so the users can transfer data in the shape of encrypted code.
Dash is originally a secretive version of Bitcoin. It is also referred to as’Darkcoin’due to its secretive nature.
Dash is popular for offering an expanded anonymity which allows its users to produce transactions impossible to trace.
The currency first appeared on the canvas of digital market in the entire 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 final 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 feature which makes it distinctive from Bitcoin and other mainstream crypto currencies.
The possible 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, the other cryptos are here to keep and will soon be giving Bitcoin a genuine tough time to keep its stature.