For so long, Blockchain has been guiding the crypto community, and so dominantly, that the terms crypto and cryptocurrency are often used interchangeably. But the fact is, not only does the digital currency compose of Bitcoin. Numerous other crypto currencies are part of the real-world. The purpose of this post is to educate our readers about other than Bitcoin cryptocurrencies to provide them with a wide range of options to choose from-if they intend to make crypto-investments.
So let’s start with the first name on our list, namely:
Launched in 2011, Litecoin is also named ‘silver to the gold of Bitcoin.’ Charlie Lee – Google’s MIT alum and former developer – is Litecoin’s founder. You may find more information at ethereumnexus
Similar to Bitcoin, Litecoin is an open source, decentralized payment network that operates without a central authority.
Litecoin is similar in many ways to Bitcoin and often leads people to think: “Why not go with Bitcoin? They ‘re both similar!.” Here’s a catch: Litecoin ‘s block generation is way faster than Bitcoin’s! And that’s the key explanation why dealers around the world are getting more open to Litecoin acceptance.
Another open source, software platform which is decentralized. The currency was introduced in 2015 and helps to create and operate Smart Contracts and Distributed Applications without any downtime.
A specific cryptographic token-Ether-is required for applications on Ethereum platform. The token can be used to exchange, stable, and decentralize just about anything, according to core developers at Ethereum.
In 2016 Ethereum experienced an attack that saw the currency divided into two parts: Ethereum and Ethereum Classic.
Ethereum is second most popular in the leading cryptocurrencies series, and is right behind Bitcoin.
The later part of 2016 saw Zcash grow. The currency describes itself as: “if Bitcoin is for money like http, then Zcash is https.”
Zcash promises to give transactions accountability, security and privacy. The currency also provides a ‘shielded’ purchase alternative so consumers can transfer data as encrypted text.
Dash is a secretive version of Bitcoin, originally. Its secretive nature also makes it known as ‘Darkcoin.’
Dash is popular for offering an expanded anonymity which makes it impossible for its users to trace transactions.
Ripple is the last name on our list with a market capitalisation of over $1bn. Launched in 2012, the currency offers instant, secure, and low cost payments.
Ripple ‘s consensus ledger does not need mining, a characteristic that makes it different from Bitcoin and other crypto-currencies in the mainstream.
The lack of mining reduces the computing power that ultimately minimizes latency and accelerates transactions.
While Bitcoin continues leading the crypto race, rivals are picking up the pace. In the corporate currencies such as Ethereum and Ripple have exceeded Bitcoin.