Bitcoin has lead the crypto world for so long, and so dominantly that the terms crypto and Bitcoin tend to be used interchangeably. However bitcoin crypto mining, the reality is, the digital currency does not just comprise of Bitcoin. You’ll find so many other cryptocurrencies which can be area of the crypto world. The purpose of this post would be to educate our readers on cryptocurrencies other than Bitcoin to provide them with a wide selection of options to pick from – if they intend on making crypto investments.
So let’s get going with the initial name on our list, that is:
Launched in 2011, Litecoin is frequently referred to as’silver to Bitcoin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – may be the founder of Litecoin.
Much like Bitcoin, Litecoin is just a decentralized, open source payment network which functions without a central authority.
Litecoin is comparable to Bitcoin in lots of ways and often leads people to believe: “Why don’t you choose Bitcoin? Both are similar! “.Here is a catch: the block generation of Litecoin is much faster than that of Bitcoin! and that is the main reason why merchants around the world are becoming more ready to accept accepting Litecoin.
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be built and run without the downtime.
The applications on Ethereum platform require a specific cryptographic token – Ether. In line with the core developers of Ethereum, the token can be used to trade, secure, and decentralize nearly anything.
Ethereum experienced an attack in 2016 which saw the currency split into two parts: Ethereum and Ethereum Classic.
In the race of leading cryptocurrencies, Ethereum is second most widely used and is right behind Bitcoin.
Zcash arrived on the scene in the later element of 2016. The currency defines itself as: “if Bitcoin is like http for cash, Zcash is https “.
Zcash promises to provide transparency, security, and privacy of transactions. The currency also offers the possibility of’shielded’transaction so the users can transfer data in the shape of encrypted code.
Dash is originally a secretive version of Bitcoin. It is also referred to as’Darkcoin’due to its secretive nature.
Dash is popular for offering an extended anonymity which allows its users to create transactions impossible to trace.
The currency first appeared on the canvas of digital market in the year 2014. Ever since then, it’s experienced a large fan following over a really short span of time.
With a market capitalization of over $1bn, Ripple is the last name on our list. The currency was launched in 2012 and offers instant, secure, and low-cost payments.
The consensus ledger of Ripple doesn’t require mining, a function which makes it different from Bitcoin and other mainstream crypto currencies.
The lack of mining reduces the computing power which ultimately minimizes the latency and makes transactions faster.
Although Bitcoin continues to lead the pack of crypto, the rivals are picking right up the pace. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity each day. Going by the trend, the other cryptos are here to keep and will undoubtedly be giving Bitcoin a genuine tough time to steadfastly keep up its stature.