Bitcoin has led the world of cryptography for so long and so dominantly that the terms crypto and bitcoin are often used interchangeably. However, the truth is that digital currency is not only made up of Bitcoins. There are many other cryptocurrencies that are part of the crypto world. The purpose of this post is to educate our readers about cryptocurrencies other than Bitcoin to give them a wide range of options to choose from – if they intend to make a crypto investment.
So let’s start with the first name on our list, that is:
Launched in 2011, Litecoin is often referred to as “the silver to Bitcoin’s gold.” Charlie Lee is an MIT graduate and former Google engineer who is the founder of Litecoin.
Like Bitcoin, Litecoin is an open-source, decentralized payment network that functions without a central authority.
Litecoin is similar to Bitcoin in many ways and often makes people think “Why not use Bitcoin? Both are similar!”. Here’s the catch: Litecoin block generation is much faster than Bitcoin! and this is the main reason why merchants around the world are becoming more open to accepting Litecoin.
Another decentralized open source software platform. The 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 Ethereum’s core developers, the token can be used for commerce, security, and decentralization of just about anything.
Ethereum survived an attack in 2016 that split the currency into two: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies, Ethereum is second in popularity and right after Bitcoin.
Zcash appeared in late 2016. The currency defines itself as “if Bitcoin is like http to money, Zcash is https.”
Zcash promises to provide transparency, security and privacy of transactions. The currency also offers a “shielded” transaction option so that users can transmit data in the form of an encrypted code.
Dash is originally a secret version of Bitcoin. It is also known as “Darkcoin” due to its secretive nature.
Dash is popular for offering enhanced anonymity, allowing users to make transactions untraceable.
The currency first appeared on the canvas of the digital market in 2014. Since then, she has gained a huge following in a very short span of time.
With a market cap of over $1 billion, Ripple is the last name on our list. The currency was launched in 2012 and offers instant, secure and low-cost payments.
Ripple’s consensus ledger requires no mining, a feature that sets it apart from Bitcoin and other mainstream cryptocurrencies.
No mining reduces computing power, which ultimately minimizes latency and makes transactions faster.
front-low) Bitcoin, the Bitcoin, the leading Bitcoin, the leader among Bitcoin, the competition is gaining momentum. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity every day. Based on this trend, other cryptocurrencies are here to stay and will soon give Bitcoin a very tough time to maintain its status.