Cryptocurrencies Other Than Bitcoin
Bitcoin can be seen as the first cryptocurrency that was created in 2008, but since then are several other digital currencies that have emerged and are much more advanced and useful than bitcoins in several aspects. Then there is the creator of Bitcoin Era that enables its users to use these different bitcoins for automatic trading as well. These variations are often called altcoins. So, let’s dive into the world of altcoins and learn about them.
- Launched in 2011, Litecoins, also known as LTC, is called the silver to bitcoin’s gold. Litecoin was created by an MIT grad and former Google engineer Charlie Lee. Litecoin uses scrypt technology which can be decoded using computational powers of average CPUs. However, you get faster transaction and confirmation rates than bitcoins.
- Etherium was launched in 2015, which allows DApps and smart contracts to run without any concern of downtime, cyber threats and any interference from third parties.
- Zcash also known as ZEC is an open-source and decentralized cryptocurrency that was launched in 2016. You get increased privacy and selective transparency of transactions making it more useful for private organizations.
- DASH or Dash or Darkcoin is a secretive version of bitcoin that offers it user more anonymity as all the transactions through this altcoin are almost untraceable. Launched in 2014, it gained popularity in a short amount of time.
- Ripple or XPR is another real-time bitcoin that offers instant payments at really low transaction fees. Ripple was launched back in 2012, with Ripple banks can easily perform global transactions instantly. There is no mining required for its transaction verification process as well.
However, bitcoin is still the top preference for most of the average cryptocurrency users, while these altcoins are preferred by companies and businesses because of their faster transaction rates.