Bitcoin has been leading the crypto world for so long and dominantly 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 publication is to teach our readers about cryptocurrencies other than Bitcoin to provide them with a wide range of choices – if they intend to make crypto-investments.
So let’s start with the first name on our list, which is:
Launched in 2011, Litecoin is often referred to as “silver for Bitcoin gold”. Charlie Lee – an MIT graduate and former Google engineer – is the founder of Litecoin.
Like 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 don’t you go with Bitcoin? They’re both similar!”. Here’s a trick: Litecoin block generation is much faster than Bitcoin! and this is the main reason why merchants around the world are becoming more open to accepting Litecoin.
Another decentralized open source software platform. The currency started in 2015 and allows for the construction and implementation of smart contracts and distributed applications without downtime.
Ethereum platform applications require a specific cryptographic token – Ether. According to the main developers of Ethereum, the token can be used for trading, protection and decentralization of almost everything.
Ethereum experienced an attack in 2016, in which the currency split into two parts: Ethereum and Ethereum Classic.
In the competition of the leading cryptocurrencies Ethereum is in second place in popularity and is right behind Bitcoin.
Zcash came out in late 2016. The currency is defined as: “if Bitcoin is like http for money, Zcash is https”.
Zcash promises to ensure transparency, security and confidentiality of transactions. The currency also offers the option of a “shielded” transaction so that users can transfer data in the form of encrypted code.
Dash was originally a secret version of Bitcoin. It is also known as “Darkcoin” due to its secret nature.
Dash is popular because it offers extended anonymity, which allows users to make transactions impossible to track.
The currency first appeared on the digital market in 2014. It has since become a big fan for a very short period of time.
With a market capitalization of over $ 1 billion, Ripple is the last name on our list. The currency launched in 2012 and offers immediate, secure and cheap payments.
Ripple’s consensus book does not require digging, a feature that makes it different from bitcoin and other mass cryptocurrencies.
Lack of yield reduces computing power, which ultimately minimizes latency and makes transactions faster.
Although bitcoin continues to lead the crypto package, rivals are picking up pace. Currencies such as Ethereum and Ripple have surpassed Bitcoin in corporate solutions and are growing in popularity every day. Following the trend, other cryptocurrencies are here to stay and will soon give Bitcoin a really difficult time to maintain its status.