Bitcoin has led the crypto world for so long and so dominantly that the terms crypto and bitcoin are often used synonymously. In truth, however, the digital currency is not just Bitcoin. There are numerous other cryptocurrencies that are part of the crypto world. The purpose of this post is to educate our readers about cryptocurrencies other than Bitcoin to provide them with a wide range of options – if they want to make crypto investments.
So let's start with the first name on our list, that is:
Litecoin was launched in 2011 and is often referred to as "Silver to Bitcoin & # 39; s Gold". Charlie Lee – MIT graduate and former Google engineer – is the founder of Litecoin.
Similar to Bitcoin, Litecoin is a decentralized, open source payment network that does not require 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 a catch: The block generation of Litecoin is much faster than that of Bitcoin! and this is the main reason why traders around the world are becoming more open to accepting Litecoin.
Another open source, decentralized software platform. The currency was introduced in 2015 and enables smart contracts and distributed applications to be created and executed without downtime.
The applications on the Ethereum platform require a specific cryptographic token – ether. According to Ethereum's core developers, the token can be used to trade, secure, and decentralize almost anything.
Ethereum experienced an attack in 2016 in which the currency was divided into two parts: Ethereum and Ethereum Classic.
In the race of the leading cryptocurrencies, Ethereum is the second most popular and is right behind Bitcoin.
Zcash came out in late 2016. The currency defines itself as: "If Bitcoin is like http for money, Zcash is https".
Zcash promises transparency, security and data protection for transactions. The currency also offers the option of a "shielded" transaction so that users can transfer data in the form of an encrypted code.
The bottom line:
Dash is originally a secret version of Bitcoin. It is also known as "Darkcoin" because of its mysterious nature.
Dash is popular for its enhanced anonymity, which allows its users to make transactions untraceable.
The currency first appeared on the digital market screen in 2014. Since then she has seen a big fan in no time.
With a market cap of over $ 1 billion, Ripple is the last name on our list. The currency was introduced in 2012 and offers instant, secure and affordable payments.
Ripple's consensus book does not require mining, a feature that distinguishes it from Bitcoin and other popular cryptocurrencies.
The lack of mining reduces computing power, which ultimately minimizes latency and speeds up transactions.
Although Bitcoin is still at the top of the crypto packets, competitors are accelerating the pace. Currencies like Ethereum and Ripple have outperformed Bitcoin in business solutions and are becoming more popular every day. Following the trend, the other cryptos will stay here and Bitcoin will soon find it very difficult to maintain their stature.