Bitcoin was the first cryptocurrency that began to be used in 2009. And since then many others have appeared, with different characteristics and protocols. Ethereum, Litecoin, Ripple, Monero and many others.
Coins like Bitcoin are called cryptocurrenciesor crypto currencies because encryption techniques are used to generate and use these currencies. Today there are more than 200 cryptocurrencies
in the market. Bitcoin is the leader in this segment, but there are other alternatives that can offer better features in different areas. You may be happy with this coin, so before we begin, let’s see why you might want to use other alternatives.
Ethereum, Bitcoin Cash, Dash or Neo are some of these new cryptocurrencies that little by little are becoming more known and whose use is becoming popular. Also called tokens(in general) are the basis on which the funds are collected through collective investment or crowfunding in the so-called ICO (Initial Coin Offering in English) to develop the Blockchain technology with protocols open to the entire world on which they are based. That is, the start up shift (usually a group of developers) funds publicly, to develop your project and in return, delivers those tokens known as cryptocurrencies that then, depending on the success or otherwise of the project, will be more or less . As in any innovation process, that Blockchain that provides value will be the one that will triumph. The public project of Ethereum -for example- came to collect more than 18.5 million dollars on its market release.
The top 10 cryptocurrencies (8/26/17)
1- Bitcoin (BTC)
Official site: https://bitcoin.org/
Although the Bitcoin story is short (it came up in 2009), it has rained a lot since its launch. His creation has always been surrounded by a certain aura of mystery, because you do not know who created it. Satoshi Nakamoto is just a pseudonym that used the person or people who gave birth to the project.
Official site: https://www.ethereum.org/
Ethereum is an open blockchain platform that allows anyone to build and use decentralized applications that work with blockchain technology.
Like bitcoin, no bank or government controls or issues the ethereum network and ether tokens; therefore, it is an open network managed by its users. Ethereum replicates Bitcoin’s technological model, but aspires to be a universal networked computer.
Bitcoin Cash (BCC)
Official site: https://www.bitcoincash.org/
Bitcoin Cash (BCC) is a cryptocurrency created through a fork (or fork) of the Bitcoin network. This means that any user who held Bitcoin at the time of the fork (August 1, 2017), now has an equivalent amount of Bitcoin Cash in the newly created Bitcoin Cash block chain.
What is a bitcoin fork? Basically it is a separate version of this cryptocurrency and its chain block or blockchain but sharing its history. The appearance of these forks can give rise to different cryptocurrencies, such as Bitcoin Cash.
This new digital currency aims to accelerate transactions and boost their use. Bitcoin Cash increases the size of the block to 8 MB, one of the main demands of those who criticize the current state of the cryptocurrency.
Official site: https://ripple.com/
Ripple is the name of a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed and open source payment system that is still in beta. The purpose of the Ripple system, according to its website, is to allow people to free themselves from the “walled gardens” of financial networks -that is, credit cards, banks, PayPal and other institutions that restrict access with tariffs and fees. delays processing.
Is Ripple like Bitcoin? In many ways, yes. Like Bitcoin, Ripple’s XRP is a digital form of currency based on mathematical formulas and has a limited number of units. Both forms of currency can be transferred from one account to another (peer-to-peer, or P2P) without the need of any intervening third party. And both provide digital security to protect against the possibility of fake coins.
The Ripple network is designed to allow the seamless transfer of any currency, be it dollars, euros, pounds, yen or bitcoins.
Official site: https://litecoin.org/
Litecoin (LTC) is a cryptocurrency supported by the P2P network that allows instant payments and almost zero cost anywhere in the world. Litecoin is a global and open source payment network that is completely decentralized and without central authorities. Mathematics secures the network and allows individuals to control their own finances. Litecoin provides faster transaction confirmation times and improved storage efficiency over the main mathematical-based currency. With substantial industry support, volume of transactions and liquidity, Litecoin is a proven means of commerce complementary to Bitcoin.
The Litecoin was created by the former Google engineer Charles Lee in the year 2011. It was created with the aim of improving Bitcoin. The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support.
Official site: https://www.dash.org/
Dash (DASH) is a digital currency focused on privacy and based on Bitcoin software. It allows you to remain anonymous while making transactions, similar to what happens with cash.
With Dash, payments are received almost instantaneously thanks to InstantX technology. Advanced anonymization allows you to send Dash anonymously without having to wait for anything or anyone.
The essence of Dash’s unique technology is a P2P (Peer-to-Peer) network design on two levels. This technology rewards users who run a special type of node called master node (masternode) and maintain it 24/7 with dedicated hardware.
Official site: https://www.nem.io/
NEM (XEM) is a peer-to-peer cryptocurrency released in 2015. Unlike other cryptocurrencies, NEM has its own original source code.
Written in Java, NEM has introduced new features of blockchain technology such as its importance test algorithm (POI), multifirm accounts, encrypted messages and an Eigentrust ++ reputation system. The NEM software is used in a chain of commercial blocks called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.
This cryptocurrency has introduced new features and technologies to the Blockchain community. For example, it operates using the unique POI algorithm. POI or Significance Test, which helps determine the user who is going to calculate the next block.
Official site: https://neo.org/
Neo, some time ago known as Antshares is the principal open Blockchain in China. It is generally viewed as the “Ethereum of China” due to its cycle in Ethereum’s astute contracts. However, its novel attributes have figured out how to close certain holes in Ethereum brilliant contracts. At the season of composing, Neo is among the 10 cryptographic forms of money that surpass one trillion dollars as far as market capitalization. Even as far as esteem, it has been demonstrating a colossal increment.
Like Ethereum, Neo aims to build a platform in which other decentralized applications can be built allowing users to execute smart contract code in their Blockchain.
Smart contracts are based on the NEO virtual machine, which is similar to the Ethereum virtual machine. NEO is designed to solve the same problems as Ethereum.
Official site: https://iota.org/
IOTA is a new open-source cryptocurrency that does not use a blockchain. Its innovative quantum test protocol, known as Tangle , gives rise to new unique features such as zero rates, infinite scalability, fast transactions, secure data transfer and many others.
IOTA was developed in 2015 by David Sønstebø and is maintained by the IOTA Foundation, a non-profit foundation located in Germany.
IOTA focuses initially on serving as the backbone of Internet-of-Things (IoT). IOTA is an ambitious project that seeks to generate several applications of the IoT, doing it through Tangle, the most relevant innovation in the IOTA. Its creator defines it as a ledger that is lightweight and makes it possible to transfer values without giving anything in return.
Ethereum Classic (ETC)
Official site: https://ethereumclassic.github.io/
Ethereum Classic is not a new cryptocurrency per se, but a division of an existing cryptocurrency, the Ethereum.
The two chains of squares are indistinguishable inside and out until piece 1920000 where the hard fork was implemented . A ‘Hard Fork’ or hard fork is a changeless uniqueness in the Blockchain that happens when non-refreshed hubs can not approve pieces made by the hubs that hold fast to the latest agreement rules. After the hard fork, the square chains were separated into two and acted independently.
Ethereum Classic still offers the same features as Ethereum, such as the creation and deployment of intelligent contracts and decentralized applications , and has the same specifications, such as average block time, size and reward.
Official site: https://getmonero.org/
Monero (XMR) is an open source cryptocurrency created in April 2014 that focuses on privacy, decentralization and scalability.
Monero was launched in April 2014 originally under the name of BitMonero , which is a composite of Bit (as in Bitcoin) and Monero (literally means “currency” in Esperanto). Five days later, the community opted for the name to be shortened only to Monero. It was launched as the first fork of the Bytecoin currency, based on CryptoNote. However, it was created with two main differences: firstly, the target block time was reduced from 120 to 60 seconds, and second, the emission speed was slowed by 50%.
Monero is one of the few cryptocurrencies that have not been created using Bitcoin technology. Specifically, it was built on the CryptoNote protocol , an encryption system that makes transactions not signed by only one person, but by several at the same time. For this, the system divides the number of moneros into two (unequal) parts and mixes both with the moneros of other users.