Top 5 Cryptocurrencies apart from Bitcoin
Jan 08, 2018 Posted / 2380 Views
Bitcoin was introduced 8 years ago to the world and at that point in time, it became the first cryptocurrency. It was more of a mystery to the world than a unique technology as an unknown programmer called by the name – Satoshi Nakamoto, invented it. However, with time the cryptocurrency space was full of altcoins and unique ideas thanks to the use of modern algorithms and blockchain technology. Now, cryptocurrencies can assist in completing financial transactions for consumer goods at lightning speeds.
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Cryptocurrencies not only does anonymize your transactions however they can also be sent anywhere in the world at minimal fees. This permits individuals to deal directly with one another through the Internet disparate from fiat currency, which has to bypass the third party financial organizations consequential of you paying conversion fees. To ensure the protection of your cryptocurrency, it’s highly advisable to store it in a cold storage or paper wallet.
However, many cryptocurrencies have emerged out and led the race to become the best and topmost. Bitcoins are more valuable just because it is the oldest, however, different crypto-coins are coming up with more convenience and fewer flaws than Bitcoin. Here in the article, we will list you top 5 cryptocurrencies, which have the potential to dethrone bitcoin soon.
This is akin to a distributed financial technology that allows users to send real-time payments across international networks. It works analogously to other cryptocurrencies like Bitcoin and Litecoin. The platform works with banking institutions and permits the sending of money thus facilitating the growth of the economy. The long-term goal of Ripple is to allow the Internet of value. It was introduced in 2012 and since then, its model does not require any mining. This has diminished the usage of computing power as well as minimized network latency.
Current price – $3.14
Market cap – $131 Billion
Ethereum is a decentralized platform developed to run smart contracts. The platform was launched in 2015 as an open software platform, which is supported by blockchain technology. It also allows developers to build and deploy decentralized applications. It is distributed via a public blockchain network just where miners are rewarded with Ether when they finish mining.
Current price – $1027.74
Market cap – $99 Billion
This digital currency was basically launched in 2015 as a peer-to-peer cryptocurrency and is written in Java. Since its birth, NEM has the vision to become a wide distribution model. The network has found many improved grades over other, and new features are being introduced from time to time. The new editions are proof of importance algorithm, multisignature accounts, encrypted messaging and Eigentrust ++ reputation system. Currently, the blockchain software is integrated with a commercial blockchain called Mijin.
Current price – $1.68
Market cap – $15.4 Billion
The Cardano blockchain launched a few time back has exploded on the crypt-scene with massive gains in its coin. The project began in 2015 and labelled itself as the first blockchain network supported by a “scientific philosophy” and designed by leading academics and engineers through peer-reviewed research. However, Cardano is still a relative unknown, is clearly big on private transactions as well as responding to the needs of regulators, making it primed for mass adoption.
Current price – $1.01
Market cap – $26 Billion
Bitcoin Cash is developed in August of 2017 as a hard fork of bitcoin. It can fundamentally call as a new version of bitcoin that’s incompatible with bitcoin.
It is said that Bitcoin Cash was developed as some users were irritated by high fees and slow processing times. Bitcoin Cash has a greater block size limit, and it has more capacity to handle transactions with lower fees and faster confirmations. In the mid of November, Bitcoin Cash briefly topped Ethereum’s market cap to become the second-most valuable crypto.
Current price – $2, 599.87
Market cap – $43 Billion
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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