Bitcoin has led the cryptocurrency world for a long time, so dominant that the terms crypto and Bitcoin are often used interchangeably. However, the truth is that the digital currency does not only consist of Bitcoin. 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 provide them with a wide range of options to choose from – if they are intending to make crypto investments.
So let’s start with the first name on our list, which is:
Litecoin was launched in 2011, and is often referred to as “Bitcoin Silver for Gold”. Charlie Lee – a MIT graduate and former Google engineer – is the founder of Litecoin.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network that operates without a central authority.
Litecoin and Bitcoin are similar in many ways and it often prompts people to think, “Why not take Bitcoin? They are both the same!” Here’s a problem: Litecoin block generation is much faster than Bitcoin! This is the main reason why merchants around the world have become more open to accepting Litecoin.
Another open source, decentralized software platform. The coin was launched in 2015 and enables smart contracts and distributed applications to be created and run without any downtime.
The applications on the Ethereum platform require an encryption token – Ether. According to the major Ethereum developers, the token can be used for trading, securing, and decentralizing almost anything.
Ethereum came under attack in 2016 that split the currency into two: Ethereum and Ethereum Classic.
In the leading cryptocurrency race, Ethereum is second in popularity and just behind Bitcoin.
Zcash appeared in the latter part of 2016. The currency identifies itself as: “If Bitcoin is like http for money, Zcash is https”.
Zcash pledges transparency, security, and transaction privacy. The currency also provides a “protected” transaction option so that users can transfer data in the form of encrypted token.
Dash is originally a secret version of Bitcoin. It is also known as “Darkcoin” due to its clandestine nature.
Dash is known for offering extended anonymity that allows its users to make transactions impossible to track.
The coin first appeared on the digital market canvas in 2014. Since then, it has seen a lot of fans over a very short period of time.
With a market cap of over $ 1 billion, Ripple is the last name on our list. The coin was launched in 2012 and offers instant, secure, and low-cost payments.
Ripple’s consensus ledger doesn’t require mining, a feature that makes it different from Bitcoin and other mainstream cryptocurrencies.
Lack of mining reduces computing power which ultimately reduces latency and makes transactions faster.
It is contained:
Although Bitcoin continues to lead the pack in cryptocurrencies, the competitors are advancing. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity every day. According to the trend, other digital currencies are here to stay and will soon give Bitcoin a real hard time maintaining its position.