Bit coin has leaded the crypto world for so long, and so dominantly that the terms crypto and Bit coin are often used interchangeably. However, the truth is, the digital currency does not only comprise of Bit coin.
There are numerous other crypto currencies that are part of the crypto world. The purpose of this post is to educate our readers on crypto currencies other than Bit coin to provide them with a wide range of options to choose from – if they intend on making crypto-investments.
So let’s get started with the first name on our list, that is:
Launched in 2011, lite coin is often referred to as ‘silver to Bit coin’s gold.’ Charlie Lee – MIT graduate and former engineer at Google – is the founder of lite coin.
Similar to Bit coin, lite coin is a decentralized, open source payment network which functions without a central authority.
Lite coin is similar to Bit coin in many ways and often leads people to think: “Why not go with Bit coin? Both are similar!” Here’s a catch: the block generation of lite coin is much faster than that of Bit coin! And this is the main reason why merchants around the world are becoming more open to accepting lite coin.
Z cash came out in the later part of 2016. The currency defines itself as: “if Bit coin is like http for money, Z cash is https”.
Z cash promises to provide transparency, security, and privacy of transactions. The currency also offers the option of ‘shielded’ transaction so the users can transfer data in the form of encrypted code.
Dash is originally a secretive version of Bit coin. It is also known as ‘Dark coin’ due to its secretive nature.
Dash is popular for offering an expanded anonymity which allows its users to make transactions impossible to trace.
The currency first appeared on the canvas of digital market in the year 2014. Since then, it has experienced a large fan following over a very short span of time.
With a market capitalization of over $1bn, Ripple is the last name on our list. The currency was launched in 2012 and offers instant, secure, and low-cost payments.
The consensus ledger of Ripple doesn’t require mining, a feature which makes it different from Bit coin and other mainstream crypto currencies.
The lack of mining reduces the computing power which ultimately minimizes the latency and makes transactions faster.
Although Bit coin continues to lead the pack of crypto, the rivals are picking up the pace. Currencies like Ethereal and Ripple have surpassed Bit coin in enterprise solutions and are growing in popularity each day. Going by the trend, the other crypto s are here to stay and will soon be giving Bit coin a real tough time to maintain its stature.