Bitcoin has led the crypto world for so long, and is so influential that the terms crypto and bitcoin are often used interchangeably. However, the truth is that digital currency does not only contain bitcoin. There are many more cryptocurrencies that are part of the crypto world. The purpose of this post is to educate our readers on cryptocurrencies other than Bitcoin and provide them with a wide range of options to choose from – if they intend to invest in crypto.
So let’s start with the first name on our list:
Launched in 2011, Litcoin is often referred to as the “gold and silver of Bitcoin.” Charlie Lee – MIT graduate and former Google engineer – founder of Litcoin.
Like Bitcoin, Litcoin is a decentralized, open source network that operates without a central authority.
Litcoin is similar to Bitcoin in many ways and often leads people to think: “Why not go with Bitcoin? Both are the same!”. Here’s a catch: Litcoin’s block generation is much faster than Bitcoin’s! And this is why merchants around the world are becoming more open to accepting litcoin.
And an open source, decentralized software platform. The coin was launched in 2015 and enables smart contract and distribution applications to be built and run without any downtime.
Etherium platform applications require a specific cryptographic token – Ether. According to the original developers of Etherium, the token can be used to trade, secure and decentralize anything.
Etherium launched an attack in 2016 that saw the currency split into two parts: Etherium and Etherium Classic.
In the competition of the top cryptocurrencies, Etherium is the second most popular and just behind Bitcoin.
Jacash came out later in 2016. The currency defines itself as: “If Bitcoin is like HTTP for money, then Jacash is https”.
ZCash promises transparency, security and confidentiality of transactions. The currency also provides the option of ‘soldered’ transactions so that users can transfer data in the form of encrypted code.
Dash is basically a secret version of Bitcoin. It is also known as ‘Darkcoin’ due to its secret nature.
Dash is popular for publishing an extended name that makes it impossible for its users to trace transactions.
The currency first appeared on the canvas of the digital market in 2014 and since then it has followed a huge fan base in a very short time.
With a market capitalization of over B 1bn, Ripple is the last name on our list. The coin was launched in 2012 and provides instant, secure and low-cost payments.
Ripple does not require mining in the consent register, a feature that sets it apart from Bitcoin and other mainstream cryptocurrencies.
Lack of mining reduces computing power which ultimately reduces delays and speeds up transactions.
While Bitcoin continues to lead the crypto pack, rivals are gaining momentum. Currencies like Ethereum and Ripple have surpassed Bitcoin in enterprise solutions and are growing in popularity every day. Seeing the trend other cryptos are here to stay and will soon give Bitcoin a really tough time maintaining its height.