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 does not only include Bitcoin. There are many other cryptocurrencies that are part of the cryptographic 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 intend to make cryptocurrencies.
So let’s start with the first name on our list, which is:
Launched in 2011, Litecoin is often referred to as “silver in Bitcoin gold”. Charlie Lee, an 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 is similar to Bitcoin in many ways and often makes people think, “Why not go with Bitcoin? Both are similar!”. Here’s a problem: Litecoin blog generation is much faster than Bitcoin generation. and this is the main reason why traders around the world are increasingly open to accepting Litecoin.
Another open source decentralized software platform. The currency was launched in 2015 and allows you to build and execute smart contracts and distributed applications without downtime.
Ethereum platform applications require a specific cryptographic token: Ether. According to Ethereum’s core developers, the token can be used to operate, secure, and decentralize just about anything.
Ethereum experienced an attack in 2016 that split the currency into two parts: Ethereum and Ethereum Classic.
In the leading cryptocurrency race, Ethereum is the second most popular and is just behind Bitcoin.
Zcash came out in the back of 2016. The currency defines itself as, “if Bitcoin is like http for money, Zcash is https.”
Zcash promises to provide transparency, security and privacy of transactions. The currency also offers the option of “shielded” transactions so that users can transfer data in the form of 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 extended anonymity that allows its users to make transactions impossible to track.
The currency first appeared on the digital market canvas in 2014. Since then, it has experienced a wide range in a very short period of time.
With a market capitalization 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 record does not require mining, a feature that makes it different from Bitcoin and other major cryptocurrencies.
Lack of mining reduces computing power which ultimately minimizes latency and makes transactions faster.
While Bitcoin continues to lead the cryptocurrency package, rivals are catching up. Currencies like Ethereum and Ripple have outperformed Bitcoin in business solutions and are becoming increasingly popular. Following the trend, the other cryptocurrencies are here to stay and will soon give Bitcoin a very difficult time to maintain its height.