The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a swifter transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Wise Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an terrific response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic technology or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enlargening fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked superb interest among the cryptography community and enthusiasts. The development of this cryptocurrency is entirely donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables finish privacy by using a special mechanism called ‘ring signatures.’ With this mechanism, there shows up a group of cryptographic signatures including at least one real participant – but since they all show up valid, the real one cannot be isolated.

The Bottom Line

Bitcoin resumes to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a swifter transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Clever Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an staggering response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enhancing fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked good interest among the cryptography community and enthusiasts. The development of this cryptocurrency is fully donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables accomplish privacy by using a special technology called ‘ring signatures.’ With this mechanism, there emerges a group of cryptographic signatures including at least one real participant – but since they all emerge valid, the real one cannot be isolated.

The Bottom Line

Bitcoin proceeds to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a swifter transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Brainy Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an tremendous response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enlargening fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked good interest among the cryptography community and enthusiasts. The development of this cryptocurrency is downright donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables accomplish privacy by using a special technology called ‘ring signatures.’ With this mechanism, there shows up a group of cryptographic signatures including at least one real participant – but since they all show up valid, the real one cannot be isolated.

The Bottom Line

Bitcoin resumes to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a quicker transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Clever Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an terrific response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Trio) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic technology or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enhancing fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked excellent interest among the cryptography community and enthusiasts. The development of this cryptocurrency is downright donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables accomplish privacy by using a special technology called ‘ring signatures.’ With this technology, there emerges a group of cryptographic signatures including at least one real participant – but since they all emerge valid, the real one cannot be isolated.

The Bottom Line

Bitcoin proceeds to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a quicker transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Brainy Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an staggering response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Trio) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enhancing fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked good interest among the cryptography community and enthusiasts. The development of this cryptocurrency is totally donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables finish privacy by using a special mechanism called ‘ring signatures.’ With this technology, there shows up a group of cryptographic signatures including at least one real participant – but since they all emerge valid, the real one cannot be isolated.

The Bottom Line

Bitcoin resumes to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a quicker transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Wise Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an staggering response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enlargening fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked excellent interest among the cryptography community and enthusiasts. The development of this cryptocurrency is downright donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables finish privacy by using a special mechanism called ‘ring signatures.’ With this mechanism, there emerges a group of cryptographic signatures including at least one real participant – but since they all emerge valid, the real one cannot be isolated.

The Bottom Line

Bitcoin resumes to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a quicker block generation rate and hence offers a quicker transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Clever Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an tremendous response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic technology or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enlargening fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked superb interest among the cryptography community and enthusiasts. The development of this cryptocurrency is downright donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables finish privacy by using a special mechanism called ‘ring signatures.’ With this technology, there emerges a group of cryptographic signatures including at least one real participant – but since they all show up valid, the real one cannot be isolated.

The Bottom Line

Bitcoin resumes to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a quicker block generation rate and hence offers a quicker transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Wise Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an breathtaking response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enlargening fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked excellent interest among the cryptography community and enthusiasts. The development of this cryptocurrency is entirely donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables accomplish privacy by using a special mechanism called ‘ring signatures.’ With this mechanism, there shows up a group of cryptographic signatures including at least one real participant – but since they all emerge valid, the real one cannot be isolated.

The Bottom Line

Bitcoin proceeds to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

The six Most Significant Cryptocurrencies Other Than Bitcoin, Investopedia

The six Most Significant Cryptocurrencies Other Than Bitcoin

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​. The currencies inspired by Bitcoin are collectively called altcoins and have attempted to present themselves as modified or improved versions of Bitcoin. While some of these currencies are lighter to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. We look at six cryptocurrencies, picked from over seven hundred (in no specific order). (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not managed by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Albeit Litecoin is like Bitcoin in many ways, it has a swifter block generation rate and hence offers a swifter transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

Two) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Clever Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an tremendous response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inwards Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $Four.46 billion, 2nd after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Three) Zcash (ZEC)

Zcash, a decentralized and open-source cryptocurrency launched in the latter part of 2016, looks promising. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself. Zcash offers privacy and selective transparency of transactions. Thus, like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details such as the sender, recipient, and amount remain private. Zcash offers its users the choice of ‘shielded’ transactions, which permit for content to be encrypted using advanced cryptographic mechanism or zero-knowledge proof construction called a zk-SNARK developed by its team. (Related reading, see: What Is Zcash?)

Four) Dash

Dash (originally known as Darkcoin) is a more secretive version of Bitcoin. Dash offers more anonymity as it works on a decentralized mastercode network that makes transactions almost untraceably. Launched in January 2014, Dash experienced an enhancing fan following in a brief span of time. This cryptocurrency was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, ‘Darkcoin’ was rebranded to Dash, which stands for Digital Cash and operates under the ticker – DASH. The rebranding didn’t switch any of its technological features such as Darksend, InstantX. (Related reading, see: Top Alternative Investments for Retirement)

Five) Ripple (XRP)

Ripple is a real-time global settlement network that offers instant, certain and low-cost international payments. Ripple “enables banks to lodge cross-border payments in real time, with end-to-end transparency, and at lower costs.” Released in 2012, Ripple currency has a market capitalization of $1.26 billion. Ripple’s consensus ledger — its method of conformation — doesn’t need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn’t require mining, it reduces the usage of computing power, and minimizes network latency. Ripple believes that ‘distributing value is a powerful way to incentivize certain behaviors’ and thus presently plans to distribute XRP primarily “through business development deals, incentives to liquidity providers who suggest tighter spreads for payments, and selling XRP to institutional buyers interested in investing in XRP.”

6) Monero (XMR)

Monero is a secure, private and untraceable currency. This open source cryptocurrency was launched in April two thousand fourteen and soon spiked fine interest among the cryptography community and enthusiasts. The development of this cryptocurrency is fully donation-based and community-driven. Monero has been launched with a strong concentrate on decentralization and scalability, and enables accomplish privacy by using a special technology called ‘ring signatures.’ With this technology, there emerges a group of cryptographic signatures including at least one real participant – but since they all show up valid, the real one cannot be isolated.

The Bottom Line

Bitcoin proceeds to lead the pack of cryptocurrencies, in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular, while some altcoins are being endorsed for superior or advanced features vis-à-vis Bitcoins. Going by the current trend, cryptocurrencies are here to stay but how many of them will emerge leaders amid the growing competition within the space will only be exposed with time.

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