Nowadays, Bitcoin which is a emerging star in a wave of cryptocurrencies built on decentralized peer-to-peer network, has not been just a trendsetter, but it has also become the standard for cryptocurrencies. Since Bitcoin prices are soaring new highs, we look at six cryptocurrencies that could be worth your while.
Litecoin (LTC)
Litecoin which was launched in the year 2011, are among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ Litecoin was created by Charlie Lee who was a MIT graduate and a former Google engineer. Litecoin is an open source global payment network which is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is similar to Bitcoin, it has a faster block generation rate, thus offers a faster transaction confirmation. Along with developers, there are also numbers growing of merchants who accept the Litecoin.
Ethereum (ETH)
Ethereum which was launched in 2015, is a decentralized software platform that enables Smart Contracts and Distributed Applications to 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 overwhelming response. The applications on Ethereum runs on its platform-specific cryptographic token which is known as "ether". "Ether" is like a vehicle which is required for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. According to Ethereum, "Ether" can be used to codify, decentralize, secure and trade just about anything. Currently, Ethereum has a market capitalization of $41.4 billion which comes to second after Bitcoin among all cryptocurrencies.
Zcash (ZEC)
Zcash is a decentralized and open-source cryptocurrency which was launched in 2016. Zcash offers privacy and selective transparency while performing transactions. Like https, Zcash claims to provide extra security or privacy where all transactions are recorded and published on a blockchain, but details about the sender, recipient, and amount remains private. Zcash offers its users with the choice of ‘shielded’ transactions, which enables the content to be encrypted using advanced cryptographic technique.
Dash
Dash which is also known as Darkcoin, is a more secretive version of Bitcoin and was launched in January 2014. Dash works on a decentralized mastercode network which makes transactions almost untraceable to unsuspicious peoples. Dash experienced an increasing fan following in a short period of time. Dash was created and developed by Evan Duffield and can be mined using a CPU or GPU. In March 2015, the name "Darkcoin" was changed to Dash, which stands for Digital Cash and thus operates under the ticker DASH.
Ripple (XRP)
Ripple which was launched in 2012, is a real-time global settlement network which offers an instant, certain and low-cost international payments. Ripple enables banks to settle cross-border payments in real time along with end-to-end transparency but at lower costs. Ripple currency has a market capitalization of $1.26 billion. Ripple doesn not need mining, a feature that deviates from bitcoin and altcoins. Since Ripple’s structure doesn not require mining, it reduces the usage of computing power, and thus minimizes the network latency.
Monero (XMR)
Monero is a secure, private and untraceable currency which was launched in April, 2014. Monero was soon spiked enorme interest among the cryptography community. The development of this cryptocurrency is completely donation-based and community-driven. Monero was launched with a strong focus on decentralization and scalability, and enables complete privacy by using a special technique called "ring signatures". In this technique, there appears a group of cryptographic signatures including at least one real participant but since they all appear valid, the real one cannot be isolated.
Comments
Post a Comment