Unless you have been living under a rock for the last year you have probably heard of Bitcoin. What you may not know is that Bitcoin is not the only Crypto-Currency. There are Bitcoin alternatives. Some of the alternatives to Bitcoin will end up on the trash bin of history. Others may become mainstream and others may even eclipse Bitcoin!
Yesterday we told you that the blockchain is not equal to bitcoin. Today we’ll give you some other crypto Currencies to check out. However, remember, this is not financial advice and we are not endorsing any of the following entities. The list is for educational purposes only.
Bitcoin Alternatives :
With the price of Bitcoin going up everytime you look, here are a list of some more affordable alternatives. There are many others, but these are the ones that we are keeping an eye on.
Litecoin is going through a boom right now. It is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized. without any central authorities. Litecoin features faster transaction confirmation times and improved storage efficiency than Bitcoin.
Ripple claims to be built on the most advanced blockchain technology. It also claims to be scalable ( and that Bitcoin is not ), secure and interoperates different networks. That interoperability is what makes Ripple interesting to us.
This currency is a interesting case study as it is tied to a social media network. It is a blockchain-based rewards platform for publishers to monetize content to grow the aforementioned social network.
IOTA is one of the most interesting Bitcoin alternatives in our opinion. They claim to enable companies to explore new B2B models. Every technological resource becomes a potential service to be traded on an open market. In real time, with no fees.
Dash may very well be the fastest growing network on this list. It’s a fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain. Masternodes are rewarded for validating, storing and serving the blockchain to users.
So that’s our list. What are your favorite Bitcoin Alternatives? Feel free to comment below to share your favorites with our readers.