Bitcoin has lead the crypto world for way too long, and so dominantly that the terms crypto and Bitcoin are often used interchangeably. However, the fact remains, the digital currency does not merely comprise of Bitcoin. There are many other cryptocurrencies that are part of the crypto world. The goal of this post is to educate our readers on cryptocurrencies other than Bitcoin to offer them with a wide variety of options to select from – when they intend on making crypto investments.
So let’s get going with the very first name on our list, that is: bitcoin crypto mining
Launched in 2011, Litecoin is frequently known as’silver to Bitcoin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – is the founder of Litecoin.
Much like Bitcoin, Litecoin is a decentralized, open source payment network which functions without a main authority.
Litecoin is comparable to Bitcoin in lots of ways and often leads people to think: “Why not go with Bitcoin? Both are similar! “.Here is a catch: the block generation of Litecoin is much faster than that of Bitcoin! and that is the primary 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 certain cryptographic token – Ether. In line with the core developers of Ethereum, the token can be utilized to trade, secure, and decentralize almost 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 arrived on the scene in the later element of 2016. The currency defines itself as: “if Bitcoin is much like http for cash, Zcash is https “.
Zcash promises to offer 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 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 year 2014. Ever since then, it’s experienced a large fan following over a really 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 feature rendering it different 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, one other cryptos are here to remain and will undoubtedly be giving Bitcoin a real tough time to steadfastly keep up its stature.