Did you ever want to know what the other cryptocurrencies are other than bitcoin. Sure, many of these other cryptocurrencies won’t come even close to bitcoin’s valuation, but some may get traction. In fact, Ethereum is already on the roll, Litecoin aims to be the “silver to Bitcoin’s gold” and Ripple is being used by major banks for its payment protocol.
As of June 2017, there were more than 900 cryptocurrencies available over the internet, many of which won’t live for another week or so. Here, we present you with the top 5 other-than-Bitcoin cryptocurrencies we think have the best perspective. Let’s roll…
Arguably the most promising of “other cryptocurrencies,” the Ethereum platform goes beyond peer-to-peer money transfers to also include support for the so called “smart contracts.” These in turn enable developers to create apps that run on top of Ethereum, and potentially expand its use cases to other industries. Speaking of which, many major corporations have expressed their support to the platform through the Enterprise Ethereum Alliance, which gathers the likes of Microsoft, Samsung, ING, National Bank of Canada, Accenture, Deloitte, J.P. Morgan, Merck and others.
2. Litecoin (LTC)
Launched in 2011, Litecoin was among the initial cryptocurrencies following bitcoin, and was often referred to as “silver to Bitcoin’s gold.” Created by Charlie Lee, a MIT graduate and former Google engineer, Litecoin got a relatively big following though nothing anywhere close to that of Bitcoin, even though it has some technical improvements (over Bitcoin) as well as most other major cryptocurrencies. Also compared to Bitcoin, Litecoin has a faster block generation rate which enables a faster transaction confirmation.
3. Ripple (XRP)
Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. In fact, experts are more excited about its payment protocol, which allows for a seamless transfer of money in any form, whether USD, litecoin, or bitcoin. Said protocol is already being used by banks like UniCredit, UBS and Santander as settlement infrastructure technology. Compared to most other cryptocurrencies, Ripple doesn’t require mining, hence it doesn’t need all that much computing power. This in turn minimizes network latency and enables fast money transfers.
Formerly known as Darkcoin and XCoin, Dash offers all the same features as Bitcoin plus a few advanced capabilities such as instant transactions (InstantSend), private transactions (PrivateSend), and decentralized governance (DGBB). The platform uses a two-tier architecture to power its network: the first tier consists of miners who secure the network and write transactions to the blockchain; and the second tier which includes masternodes that enable the advanced features of Dash.
5. Zcash (ZEC)
Although a newcomer — it was launched in September 2016 — Zcash looks like a promising alternative to Bitcoin. “If Bitcoin is like http for money, Zcash is https,” is how Zcash defines itself, offering privacy and selective transparency of transactions. While Zcash payments are published on a public blockchain — information about the sender, recipient, and amount of a transaction may remain private. Similarly to Bitcoin, Zcash has a fixed total supply of 21 million units.
You may be thinking that you have missed the Bitcoin ride — we, BTW, think there is still time to join the game — and now want to try your chances with an alternative cryptocurrency. Well, you can put this list to work and benefit from making an early investment.
While we can’t offer you a “direct investment advice,” we do advise you to check out the first few cryptocurrencies on the list. They hold a huge promise, but I said too much…