The 5 Best Cryptocurrency Alternatives To Bitcoin Available On The Market Today

1) Litecoin (LTC)

The particularity of Litecoin is that it was one of the initial cryptocurrencies following the launch of Bitcoin. The Litecoin digital currency has been launched back in 2011. Many experts in digital currency is often referring to Litcoin as the silver to Bitcoins gold. This cryptocurrency was created by a former Google engineer and MIT graduate named Charlie Lee. Litecoin uses “scrypt” as a proof of work and it is not controlled by any central authority, being based on an open source global payment network. The Litecoin “scrypt” can be decoded by using just a consumer grade CPU. While the Litecoin cryptocurrency is being similar to Bitcoin in many ways, it provides one main advantage. Due to a faster block generation rate, it provides a faster transaction confirmation. This is in fact one of the reason why a growing number of merchants are starting to accept Litecoin, aside of developers.

2) Ethereum (ETH)

Ethereum is a decentralized software platform launched in the year 2015. The Ethereum software platform provides the possibility for developers to build Distributed Applications and Smart Contracts. These applications have the main advantage that they can run without any interference from a third party, fraud or downtime. Ethereum had launched a pre-sale for ether during the year 2014, receiving an overwhelming response. The Ethereum apps are run on ether, which is its platform-specific cryptographic token, working like a vehicle for moving around on the platform. In order to develop and run applications inside the Ethereum platform, developers need ether. This token can be used to secure, decentralize, codify, and trade just about anything. Ethereum was split into Ethereum Classic (ETC) and Ethereum (ETH) in the year 2016, following the attack on the DAO. Standing at $4.46 billion, the market capitalization for Ethereum (ETH) is second only to Bitcoin,

3) Zcash (ZEC)

Zcash was launched in the latter part of 2016 as an open source and cryptocurrency. Zcash offers selective transparency and extra privacy of transactions. Details such as the amount, recipient or sender remain private, even if all Zcash transactions are recorded and published on a blockchain. Zcash allows its users to perform shielded transactions. The encryption of the content is based on zk-SNARK advanced cryptographic technique developed by its team.

4) Dash

Dash is a more secretive version of Bitcoin. As it works on a decentralized master code network Dash is offering more anonymity. Dash transactions are made almost untraceable. Dash was launched in January 2014, being developed by Evan Duffield. In a short span of time since then it experienced an increasing fan following. This cryptocurrency can be mined using a GPU or CPU.

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