Bitcoin has led the cryptocurrency world for so long and is so dominant that the terms crypto and Bitcoin are often used interchangeably. But the truth is that digital currency is not just about Bitcoin. There are numerous other cryptocurrencies that are part of the crypto world. The purpose of this article is to educate our readers about cryptocurrencies other than Bitcoin to provide them with a wide range of options to choose from for those looking to invest in crypto.
So let’s start with the first name on our list, namely:
Litecoin:
Launched in 2011, Litecoin is often referred to as the “silver to Bitcoin’s gold”. Charlie Lee – MIT graduate and former engineer at Google – is the creator 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 not go with Bitcoin? They are both similar!”. Here’s a catch: Litecoin’s block generation is faster than Bitcoin! and this is the main reason why merchants around the world are more open to accepting Litecoin.
Ethereum:
Another open source, decentralized software platform. The currency was launched in 2015 and enables Smart Contracts and Distributed Applications to be set up and running without any downtime.
Applications on the Ethereum platform require a special cryptographic token – Ether. According to the main developers of Ethereum, the token can be used for any trade, security and decentralization.
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 the second most popular and is right after Bitcoin.
Zcash:
Zcash came out in the later part of 2016. The currency defines itself as: “If Bitcoin is to http to money, Zcash is to https.”
Zcash promises to ensure transparency, security and privacy of transactions. The currency also offers a “secure” transaction option so that users can transmit data in an encrypted code.
Dash:
Dash is originally a hidden version of Bitcoin. Also known as “Darkcoin” due to its hidden nature.
Dash is famous for offering enhanced anonymity that allows users to make transactions untraceable.
The currency first appeared on the canvas of the digital market in 2014. Since then, he has developed a huge fan following in a very short period of time.
Ripple:
With a market capitalization of over $1 billion, Ripple is a household name on our list. The currency was launched in 2012 and offers instant, secure and cheap payments.
Ripple’s consensus ledger does not require mining, a feature that sets it apart from Bitcoin and other mainstream cryptocurrencies.
The lack of mining reduces computing power and ultimately minimizes latency and makes transactions faster.
Whole:
While Bitcoin continues to lead the cryptocurrency pack, competitors are picking up the pace. Currencies like Ethereum and Ripple have overtaken Bitcoin in enterprise solutions and are growing in popularity every day. In line with the trend, other cryptocurrencies are here to stay and will soon give Bitcoin a real hard time to maintain its strength.