On 08-Sep-2017 In Tech Reads
In the recent past, we have seen Bitcoin gaining the best hype possible. World's most popular cryptocurrency no doubt is ideal for investment if planned properly but the price of Bitcoin unit doesn't do justice to it. Dealing at over $4500, buying even a unit of it is a big deal now. Even the slightest drop in the price can cost a investor a lot and the fact that Bitcoin is already trending around at an all-time high, experts are not expecting the amount to increase in future. But even after being such a popular cryptocurrency, Bitcoin has some great alternatives which can be a more profitable investment. So, in this article, we are presenting some of the best alternatives of Bitcoin that you can consider for an investment.
Ethereum is considered as one of the best Bitcoin alternatives. Though it was introduced in 2014, this cryptocurrency has gained a lot of attraction from the investors all around the world.Just like Bitcoin, Ethereum is an open source cryptocurrency that works on a decentralized platform running smart contracts. The platform enables the user to make digital online transactions, like buying, selling and exchanging this digital currency. Earlier this year, Enterprise Ethereum Alliance program was announced which aims at connecting the Fortune 500 enterprises, startups, academics, and technology vendors to "learn and build upon the only smart contract supporting blockchain currently running in real-world production"
Introduced in 2011, Litecoin was first introduced on GitHub by a former Google employee. Later in 2013, Litecoin saw a massive growth which included a 100% leap too.Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin has many technology updations over other cryptocurrencies like Bitcoin and Ethereum such as Segregated Witness and the Lightning Network. This technology effectively allows a greater number of transactions to be processed by the network in a given time, reducing potential bottleneck.
Introduced back in 2014, NEO formerly known as Antshares is China's first ever open source blockchain. NEO works on "technologies such as P2P networking, dBFT consensus, digital certificates, Superconducting Transactions, and cross-chain interoperability the NEO blockchain enables management of smart assets in an efficient, safe and legally binding manner."
Dash is also known as Darkcoin. Dash is a more secretive version of Bitcoin which offers more anonymity, as it works on a masternode network which makes it next to impossible to trace a particular transaction. The transactions are more secured too supported by 1,000 Gigahash of X11 ASIC computing power and over 4,100 servers hosted around the world.
Introduced in 2012, Ripple is another open-source protocol, offering international reliable payments. In the recent past, Ripple has seen expanding their legs in different parts of the world. Ripple (XRP) growth shows a great potential of investment as confirmed by many experts. The market cap of XRP is also growing rapidly with it holding a market cap of around $8.5 billion as on 25th August 2017.
Just like any other cryptocurrency, Monero is another open-source, untraceable, private, secure mode of making anonymous payments. Introduced back in 2014, Monero has gained a great market capital since then. Monero uses a special technology called RingCT which keeps the transaction private and hidden, Monero relies on 'Proof-of-Work' mining to secure the mining process.
Unlike Bitcoin which makes the transaction history public, Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography. In this way, the transaction is shielded on the both amount and receiver's end. Mining of Zcash is via GPU and CPU, while between all this Zcash is resistant against ASIC-mining chip. THanks for reading and sharing!