Bitcoin has helped establish a new wave of cryptocurrencies that are built on a peer to peer network. Bitcoin is now seen as the standard for cryptocurrencies. While Bitcoin continues to evolve, there are some new currencies that are starting to become more accepted and valued.
Ethereum is a decentralized software program that allows smart contracts to run without any interference from a third party. The applications of Ethereum are run through ether. Ether is valued by many developers who are looking to run applications inside Ethereum. Ethereum can be used to secure and trade anything.
Litecoin has always been seen as an alternative to Bitcoin. Litecoin used an open source global payment network and uses scrypt as the proof of work. While Litecoin is like Bitecoin in some aspects, Litecoin has quicker block generation rate and people also notice faster transaction confirmation compared to Bitcoin. Litecoin continues to be accepted by an increasing number of merchants.
Zcash offers privacy and transparency of transactions. Zcash provides extra security where all transactions are recorded on a block chain, but all of the details are private. Zcash gives users the chance to have their content be encrypted using exciting cryptographic technique.
Dash is a secretive version of Bitcoin. Dash is considered more anonymous because it works as a decentralized mastercode network. Most of the transactions are completely untraceable.
OneCoin is unique just like a serial number on a dollar bill. Each coin is also finite and its value depends on simple supply and demand. Its block chain runs every minute and this is what sets it apart from other cryptocurrencies. It is also the first cryptocurrency that audits its blockchain by an independent auditor every month.
Monero has developed through the community and is completely donation based. Monero focuses on decentralization and scalability. Using Monero’s techniques, cryptographic signatures appear in a group, and because they are all valid, it is easy for the real signature to blend in.
Ripple offers instant international payments by letting banks settle cross border payments in real time through transparency. Because Ripple’s structure doesn’t require mining, the usage of computing power is reduced and network latency is minimized.
While Bitcoin continues to be the leader of cryptocurrencies, virtual currencies such as Ether and Ripple are glowing in popularity, especially as enterprise solutions. There is real competition to see which cryptocurrency will stand out from the others.
Many analysts feel that Ethereum has the best long term potential of the cryptocurrencies. Ethereum continues to grow and expand while analysts feel that Bitcoin has almost reached its maximum capacity. As the adoption of Ethereum grows, its value and utility will continue to increase. Ethereum has already become the preferred choice for many global corporations.