The clock is ticking, with every second giving birth to innovations. While some come out stillborn, some materialize with the potential to take the world by storm. While time travel remains an implausible concept, some inventions have undoubtedly taken the world ahead of their time. Wind back the clock to 2009, the year when one of the most disruptive technologies was born and fast-forwarded the economy into prosperity - cryptocurrency. Bitcoin, the very first cryptocurrency to be developed, stood its ground even when in the subsequent years several other cryptos gushed into the market.

Bitcoin

A global money payment system developed by an anonymous person/group under the name Satoshi Nakamoto, Bitcoin was intended to create a more manageable format of money transfer between people (often referred to as peer-to-peer). The system is a decentralized one which allows no form of intervention by a third party into the transaction process, thereby ruling out all scopes of authorization (by a person or a central bank) over the whole process. Bitcoin became very popular over the years with its spiking rates, which started with a value of $1 for every Bitcoin and now stands at a massive $8,600.

Ripple

Ripple is the blockchain that was developed back in 2012, with almost the same objective as that of Bitcoin; to enable banks to make global payments. XRP is the name of the cryptocurrency that was created for payments via Ripple and is considered as an asset.

Litecoin

Launched in 2011, Litecoin is another cryptocurrency developed in the same format as that of Bitcoin. It resembles Bitcoin in almost all of its features except for the mining process. Litecoin stands out with its ability to create a block every 2.5 minutes and with these blocks being created, miners earn money in the form of coins. The limit to which Litecoin can be circulated is about 84 million coins, and the number shouldn’t exceed that.

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Ripple vs. Bitcoin vs. Litecoin

• All of the above coins have their own set of qualities and technical features. When comparing the transaction speeds of the three, Bitcoin lacks grip over this quality since it takes about 10 minutes for every transaction. In contrast, it takes about 2.5 minutes for Litecoin transactions to be confirmed, and it would only be a matter of seconds in the case of Ripple.
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• The store value keeps differing for every cryptocurrency with the rapidly changing market conditions. But, with the cryptocurrency not being controlled by any central authority, it will face a lot of fluctuations from time to time. Hence, the values will have an equal probability for decline and surge. Bitcoin stands at a steady $8,600, Litecoin at about $58 and XRP somewhere near $0.5. XRP and Litecoin being relatively new into the game, have the potential to rise above the previous records.
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• They also differ in the transaction fee which is charged. Bitcoin charges from $0.5-$3 for each transaction, while Ripple charges about $0.01, and for Litecoin, it costs even less than the fees charged by Ripple.

Several other features, including the investment possibilities and developmental tweaks, also determines the rank of each cryptocurrency on the long list.

Conclusion

After considering all the factors the yardstick needs to be comprised of, the outcome might seem pretty obvious, as the above three hold almost incomparable levels with each having qualities to attract people. Ripple stands as an excellent opponent to Bitcoin and Litecoin, with great features of cheaper, faster and scalable transactions, lower energy consumption and an enhanced blockchain performance. Litecoin is a perfect option for its features, having an almost balanced position with that of Bitcoin. Although both these provide great features for the users, Bitcoin still stands in the top position, with the maximum number of users and the best storage value quality.