Bitcoin has been leading the crypto world for so long, and so preferentially, that the terms crypto and bitcoin are often used interchangeably. However, the truth is that digital currency is not just about bitcoins. There are many other cryptocurrencies that are part of the crypto world. The purpose of this post is to teach our readers about cryptocurrencies other than bitcoins to give them a wide choice of options – if they intend to make cryptocurrencies.
So let’s start with the first name on our list, that is:
Launched in 2011, Litecoin is often referred to as “silver to bitcoin gold”. Charlie Lee is an MIT graduate and a former Google engineer is the founder of Litecoin.
Like Bitcoin, Litecoin is an decentralized, open source payment network that operates without a central authority.
Litecoin is a lot like Bitcoin and often makes people think, “Why not go with Bitcoin? Both are similar!”. There is a catch here: the generation of Litecoin blocks is much faster than Bitcoin! and this is the main reason why traders around the world are becoming more open to accepting Litecoin.
Another decentralized open source software platform. Currency was launched in 2015 and allows you to create and run smart contracts and distributed applications without downtime.
Applications on the Ethereum platform require a specific cryptographic token – Ether. According to major Ethereum developers, the token can be used to trade, supply and decentralize just about anything.
Ethereum survived the attack in 2016 when the currency split into two parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies Ethereum ranks second in popularity and just behind bitcoins.
Zcash came out in late 2016. The currency defines itself as: “if Bitcoin is like http for money, Zcash is https”.
Zcash promises to ensure transparency, security and privacy of transactions. Currency also offers the option of a “shielded” transaction so that users can transmit data in the form of encrypted code.
Dash is an originally closed version of bitcoin. It is also known as “Darkcoin” due to its closed nature.
Dash is popular in that it offers extended anonymity, which allows users to make transactions impossible to trace.
The currency first appeared on the canvas of the digital market in 2014. Since then, she has gained a big fan in a very short period of time.
With a market capitalization of more than $ 1 billion, Ripple is the last name on our list. Currency was launched in 2012 and offers instant, secure and inexpensive payments.
The Ripple Consensus Logbook does not require mining – a feature that is different from bitcoins and other major cryptocurrencies.
Lack of mining reduces computing power, which ultimately minimizes latency and makes transactions faster.
Although bitcoin continues to lead the cryptocurrency, rivals are gaining momentum. Currencies like Ethereum and Ripple have outperformed bitcoin in corporate solutions and are increasing in popularity day by day. Following the trend, other cryptocurrencies will stay here and will soon give Bitcoin a very difficult time to maintain its growth.