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 truth is, the digital currency does not merely comprise of Bitcoin. There are numerous other cryptocurrencies which are area of the crypto world. The purpose of this post is to educate our readers on cryptocurrencies apart from Bitcoin to provide them with a wide range of options to pick from – should they intend on making crypto investments.
So let’s get started with the initial name on our list, that’s:
Launched in 2011, Litecoin is often referred to as’silver to Bitcoin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – may be the founder of Litecoin.
Just like Bitcoin, Litecoin is just a decentralized, open source payment network which functions without a main authority.
Litecoin is similar to Bitcoin in many ways and often leads people to consider: “Why not opt for Bitcoin? Both are similar! “.Here is a catch: the block generation of Litecoin is even more quickly than that of Bitcoin! and this is the main reason why merchants all over the world are becoming more open to accepting Litecoin what is ethereum mining.
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. In line with the core developers of Ethereum, the token can be utilized 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 right behind Bitcoin.
Zcash came out in the later part of 2016. The currency defines itself as: “if Bitcoin is 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 and so the users can transfer data in the shape of encrypted code.
Dash is originally a secretive version of Bitcoin. It can be known as’Darkcoin’due to its secretive nature.
Dash is popular for offering an extended anonymity allowing its users to create transactions impossible to trace.
The currency first appeared on the canvas of digital market in the season 2014. Since that time, 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 different from Bitcoin and other mainstream crypto currencies.
Having less 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 right 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, one other cryptos are here to remain and will undoubtedly be giving Bitcoin an actual tough time to steadfastly keep up its stature.