01 Jun 2020 #Ethereum
Bitcoin took the investment community by storm, as many did not expect such a high ride the crypto coin has made since it was designed. But while Bitcoin still remains the king, the world of Cryptocurrency does not stop at the fit of Bitcoin. There are other equally attractive crypto coins doing great in the market as well. If you are looking for Bitcoin alternatives that are very important within the crypto space, we have covered 4 of the best for you. The following are the 4 most important Cryptocurrencies in the world other than Bitcoin.
It’s no fluke that Ethereum remains the second most valuable cryptocurrency by market capitalization. The coin has done well for itself to maintain this second position. Since it was designed in 2015, the coin has grown considerably well. Ethereum has its own programming language and virtual machine, which is to create and execute the Smart Contract.
The ETH network offers a platform for the execution of these smart contracts over a decentralized blockchain. Ethereum launched its ICO in 2014, and the token gained a lot of support as all its issued tokens were completely sold. The token is valued at $148.03 with a market capitalization of $16.11 billion.
Litecoin came into reckoning in 2011 when it was designed by an MIT graduate Charlie Lee. The token is based on a global payment framework that operates via open source technology. Although Litecoin share similar features with Bitcoin, it’s still a bit different. It provides a faster transaction time because of its faster block generation rate. Apart from developers, there are many other merchants that accept Litcoin as a medium of payment. Currently, the coin is valued at $44, with a market capitalization of $2.85 billion.
Bitcoin Cash forked away from Bitcoin in 2017 as a result of disagreements on the best way of scaling Bitcoin. The coin is following a different layout as it stresses more on larger block sizes. BCH makes use of the same mining algorithm as Bitcoin. So, if bitcoin fails, its hard forked coin could absorb all its hashrate. BCH has faster transaction time with lower transaction fees, compared to Bitcoin. Currently, BCH is valued at $210, with a market capitalization of $3.81 billion.
Moreno is popularly known as the first “privacy coin”. Just like other crypto coins above, this platform relies on the activities of miners to process its blockchain. However, Monero is quite unique because it’s a blockchain technology that deals in high secrecy. It’s not possible to know how much transaction is made or where the transaction is sent from. Everything is carried out privately to protect traders and investors.
That’s the reason why Monero is the first choice for those who want to carry out online business while protecting their identity. The coin has grown tremendously in recent years, and has received positive response from investors and traders. Monero was established in April 2014 as an open source cryptocurrency. This coin is totally community-driven and donation-based. Currently, Monero is valued at $52, with a market capitalization of $913 million
There are other coins doing pretty good in the market as well, including Ripple, Dash, and Zcash. But the above are the 4 most important cryptocurrencies in the crypto community right now. The values of these cryptos have remained stable, as investors have had cause to smile.
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