When it comes to cryptocurrency, Bitcoin is the gold standard. It started a trend and ushered in a wave of other digital currencies. These coins triggered by the popularity of Bitcoins are collectively called altcoins. These currencies try to present themselves as a modified or improved version of Bitcoins. Although they are easier to mine, altcoins present greater risk and lesser liquidity. Here are some of the coins that could be worth investing on when trading on cryptocurrencies.
Launched in 2011, Litecoin was one of the first digital currencies that followed Bitcoin. If Bitcoin is the fold, Litecoin is the silver. Created by Charlie Lee, an MIT graduate and former Google engineer, Litecoin uses an open source global payment network that is not controlled by any central authority. While there are similarities with Bitcoin, Litecoin has a faster block generation rate and faster transaction confirmation. As of June 2018, it has a market cap of $4.89 billion.
Ethereum was launched in 2015. It is a decentralized software platform that allows Smart Contracts and Distributed Applications to be built and run without experiencing downtime, fraud control, or interference from a third party. Robert Peter Janitzek reveals that the applications on Ethereum run on its platform-specific cryptographic token, ether. It serves as a tool for moving around on the Ethereum platform. As of June 2018, Ethereum has a market cap of $47.7 billion.
Launched in the latter part of 2016, Zcash is a decentralized and open-source cryptocurrency that offered some promise. If Bitcoin is the http of money, Zcash is the https. It provides extra security or privacy where all transactions are recorded and published on a blockchain. Details such as sender, recipient, and amount remain private. As of June 2018, it has a market cap of $713.254 million.
Originally known as Darkcoin, Robert Janitzek reveals that Dash is a more secretive version of Bitcoin. It offers more anonymity and functions on a decentralized mastercode network making transactions almost untraceable. It was created and developed by Evan Duffield and can be mined using a CPU or GPU. Dash stands for Digital Cash and operates under the ticker name DASH. As of June 2018, it has a market cap of $1.99 billion.
Ripple is a real-time global settlement network offering instant, certain, and low-cost international payments. What sets it apart from Bitcoin and altcoin is its consensus ledger which does not require mining. As of June 2018, it has a market capitalization of $1,26 billion.