Bitcoin has ruled the crypt world for so long and so domineering that the terms krypto and Bitcoin are often used interchangeably. The truth is, however, that digital currency is not just about Bitcoin. There are numerous other cryptocurrencies that are part of the crypt world. The purpose of this post is to educate our readers about cryptocurrencies other than Bitcoin so that they can choose from a wide range of options – if they plan to make crypto investments.
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So let’s start with the first name on our list, which is:
Litecoin:
Launched in 2011, Litecoin is often referred to as “silver to Bitcoin gold.” Charlie Lee – a graduate of MIT and a former Google engineer – is the founder of Litecoin.
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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? Both are similar!”. Here’s the catch: Litecoin’s block generation is much faster than Bitcoin’s! and this is the main reason why traders around the world are becoming more open to accepting Litecoins.
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Ethereum:
Another open source distributed software platform. The currency was launched in 2015 and enables the construction and operation of smart contracts and distributed applications without downtime.
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Applications on the Ethereum platform require a special cryptographic ID – Ether. According to Ethereum’s core developers, the logo can be traded, protected and distributed almost anything.
Ethereum experienced an attack in 2016, when the currency was divided into two parts: Ethereum and Ethereum Classic.
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In the competition for leading cryptocurrencies, Ethereum is the second most popular and is right after Bitcoin.
Zcash:
Zcash appeared in late 2016. The currency defines itself as follows: “If Bitcoin is like http for money, Zcash is https”.
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Zcash promises to provide transparency, security and privacy for transactions. Currency also offers the option of a “secure” transaction to allow users to transfer data in the form of an encrypted code.
Line:
Dash is originally a secret version of Bitcoin. It is also known as “Darkcoin” because of its mysterious nature.
Dash is popular as a provider of extended anonymity, allowing its users to make events impossible to trace.
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The currency first appeared on the digital market canvas in 2014. Since then, it has experienced a large fan tracking in a very short period of time.
Ripple:
With a market value of over $ 1 billion, Ripple is the last name on our list. The currency was introduced in 2012 and offers immediate, secure and affordable payments.
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Ripplen’s consensus book does not require mining, which distinguishes it from Bitcoin and other mainstream cryptocurrencies.
The lack of mining reduces computing power, which ultimately minimizes latency and speeds up transactions.
Wrap:
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While Bitcoin continues to lead the way in cryptographic packaging, competitors have accelerated. Currencies like Ethereum and Ripple have overtaken Bitcoin in enterprise solutions, and their popularity is growing every day. According to the trend, other crypts have come to stay and will soon give Bitcoin a really hard time maintaining its value.
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