The only word that comes to mind while talking about the world of cryptocurrencies is Bitcoin. It’s been more than a decade since this amazing cryptocurrency was introduced. It has impressed not only individuals but also the governments and financial institutions with the benefits and features it provides. Bitcoin is a digital currency that follows the peer-to-peer network and is completely decentralized in nature. The decentralized nature means it is independent of third-parties like government or individuals.
The two parties can contract with each other without the approval of any central authority. With the popularity of bitcoin, there has been growth in software development services. Bitcoin’s invention played a great role in the growth of the financial market and developers as well. Developers are continuously focusing on creating digital money that will eliminate the need for fiat currencies. Besides bitcoin, few other cryptocurrencies have been developed that will allow users to send and receive over the internet. Trading in cryptocurrencies is the best way to earn crypto tokens and to improve your skills of trading, learn tips from www.weedprofitsystemapp.com
Let us explore some of the most popular cryptocurrencies other than bitcoin.
After bitcoin, Ethereum is the second-largest cryptocurrency across the world. It is a decentralized platform that offers top-notch features like smart contracts. Ethereum is a cryptocurrency that was launched in 2015 and is completely based on blockchain technology. The crypto tokens of this currency were known as Ether. Ethereum has followed bitcoin’s footsteps as it is also a distributed network, and miners mine Ethereum to earn Ether.
As of today, the market cap of Ethereum is around $45 billion, and the price per coin of Ether is $452.47.
Dash is a digital money system, and it was launched in 2014. In today’s time, the dash is one of the largest peer-to-peer networks as it has increased its master nodes over time. With more nodes, it has the ability to offer more capability to secure services and to end-users too. In the dash, the miners are rewarded for master nodes and to keep their efforts in security the blockchain.
Unlike bitcoin, where the transactions are visible, but the sender is unknown, the dash offers people a platform where tracing the transactions is next to impossible. It is an anonymous cryptocurrency where miners process the information on special computers and get funds for doing the work.
Most of the cryptocurrencies follow bitcoins’ footsteps, but ripple is the cryptocurrency whose code is completely new. It is a distributed financial technology that works similar to Bitcoin as it allows its users to send and receive payments globally. This financial technology works like banks and allows users to send money over the internet and help the economy grow.
This cryptocurrency was launched in 2012, and the main thing about this cryptocurrency is that it doesn’t need to be mined. No mining means minimized network latency and reduced usage of computing power.
The NEM cryptocurrency was launched in 2015. The complete code of NEM is a writer in Java, and it is also a peer-to-peer cryptocurrency that has some new and some improved features. The new features of NEM include multisignature accounts, Eigentrust ++ reputation system, proof of importance algorithm, and encrypted messaging.
At this time, the blockchain software of NEM is incorporated with some commercial blockchain known as Mijin. This commercial blockchain platform is tested by companies and financial institutions across the world.
Litecoin is a peer-to-peer cryptocurrency that is another popular cryptocurrency after Ethereum. It allows its users to make quick payments to people across the world. It is open-source software that can be mined with a normal hardware, and there is no need to get high-class hardware. Litecoin was developed by a Google engineer named Charles Lee.
The entire Litecoin is based on blockchain technology and is decentralized as well. It doesn’t involve central authorities to complete the transactions. In order to secure the network, mathematical algorithms have been used, and it provides complete control to the user to control their funds. These cryptocurrencies offer a great feature of completing the transaction faster, and this makes it the best cryptocurrency.