Bitcoin has led the cryptoworld for so long and is so dominant that the terms crypto and bitcoin are often used interchangeably. However, the truth is that digital currency is not just about Bitcoin. There are many other cryptocurrencies that are part of the cryptoworld. The purpose of this post is to teach our readers cryptocurrencies other than Bitcoin to give them 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, that is:
Litecoin:
Launched in 2011, Litecoin is often referred to as “silver to gold Bitcoin”. Charlie Lee – an MIT graduate and former Google engineer – is the founder of Litecoin.
Like Bitcoin, Litecoin is an open source decentralized 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 the catch: Generating Litecoin blocks is much faster than Bitcoin! and this is the main reason why merchants around the world are becoming more open to accepting Litecoin.
Ethereum:
Another decentralized open source software platform. Currency was launched in 2015 and allows you to create and run smart contracts and distributed applications without any downtime.
Ethereum applications require a specific cryptographic token – Ether. According to the main developers of Ethereum, the token can be used for trade, security and decentralization of almost everything.
Ethereum survived the attack in 2016, as a result of which the currency split into two parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies Ethereum ranks second in popularity and inferior to bitcoin.
Zcash:
Zcash appeared in late 2016. The currency defines itself as follows: “if bitcoin is similar to http for money, Zcash is https”.
Zcash promises to ensure transparency, security and confidentiality of transactions. Currency also offers the option of “shielded” transactions so that users can transmit data in the form of encrypted code.
dash:
Dash was originally a secret version of Bitcoin. It is also known as “Darkcoin” because of its secret nature.
Dash is popular for offering extended anonymity that allows users to make transactions impossible to track.
The currency first appeared on the digital market in 2014. She has since gained a big fan in a very short period of time.
ripple:
With a market capitalization of more than $ 1 billion, Ripple is the last name on our list. Currency was launched in 2012 and offers instant, secure and inexpensive payments.
The Ripple Consensus Book does not require mining, a feature that distinguishes it from Bitcoin and other major cryptocurrencies.
Lack of mining reduces computing power, which ultimately minimizes latency and makes transactions faster.
Hustle:
Although bitcoin continues to lead the cryptocurrency, competitors are gaining momentum. Currencies like Ethereum and Ripple have surpassed Bitcoin in corporate solutions and are growing in popularity every day. According to the trend, other cryptocurrencies are here to stay, and soon bitcoin will find it very difficult to maintain its status.