Altcoin the most popular cryptocurrencies outside of Bitcoin
Since the appearance of cryptocurrencies, their popularity has been steadily increasing. For this reason, their number on the market is constantly increasing and it is often difficult to find the best medium for investment. For this reason, we have decided to prepare an entry in which you will learn about the most popular cryptocurrencies, apart from the well-known Bitcoin. We invite you to read!
New cryptocurrencies began to appear relatively quickly after Bitcoin was introduced. All of them are known as altcoin. They differ primarily in the methods of cryptography, i.e. the methods of data encryption. Apart from that, however, they share all the characteristics of digital currencies. This is, of course, about the lack of a supervisory body, the rate set by demand, and the right to property, so they are not subject to confiscation or blockades.
What are cryptocurrencies? Encryption
Very popular types of cryptocurrencies are based on the principle of SHA 256 algorithms, i.e. the technology used to secure websites with an SSL certificate. ERC20 tokens, the prototype of which is Ethereum, can also be distinguished and operate within the network of the aforementioned currency. You can also meet hybrids, i.e. new cryptocurrencies based on new solutions.
Most popular altcoin cryptocurrencies - list of cryptocurrencies
Ethereum
is by far the most popular cryptocurrency after Bitcoin, but it differs significantly in terms of operation (Bitcoin uses the SHA 256 algorithm, while Ethereum ERC 20). The currency was created in 2015 and is still enjoying a growing interest. Ethereum (ETH for short) uses the so-called Smart Contacts, allows you to create scripts and applications that are saved in the data chain. The supply in this case is unlimited (and in Bitcoin it is), so mining will be much easier than in the case of the older brother (BTC).
Litecoin
is a very old (for this means of payment) cryptocurrency, which was created two years after Bitcoin, i.e. in 2011. The way it works is almost identical to BTC, but the block for this currency is processed approximately every 2.5 minutes, which is four times faster. The total supply in this case is 84 million units. Still, it is no match for its "original" in terms of popularity.
Ripple
this altcoin (XRP) cryptocurrency has a significant advantage over its competitors. Namely, in its case, the time of connecting between blocks is about 4 seconds, therefore it is referred to as the utility currency. It is no coincidence that banks and financial institutions use Ripple to transfer funds between them. It can therefore be assumed that in the future XRP will become part of the traditional financial system.
Tether
it is a currency that was established in 2014 and works differently than the ones mentioned above. First of all, it has been constantly paired with the USD (US dollar) exchange rate. Such a system is called stable-coins. However, it is very controversial because, according to the assumption, the cryptocurrency should not have a supervisory authority, and Tether is issued by a private company that can have a significant impact on its value. The latter has not yet certified that it has sufficient assets to buy the cryptocurrency. For this reason, we do not recommend investing in Tether, however we mention the currency as a trivia.
Lisk
Lisk is another cryptocurrency that was created in 2016. Initially 100,000,000 coins were issued. Interestingly, in the case of this currency, there is no mining phenomenon, and all transactions require approval, and at the same time, they are added to transaction blocks by delegates selected by network users. The time of one block in this case is 10 seconds, which is not much longer than in the case of Ripple. These delegates can create new blocks, for which they are rewarded with cryptocurrency units. It is only compatible with proven Lisk wallets
Dash
this currency is appreciated primarily for data security - it allows you to maintain the privacy of users. The structure of the cryptocurrency was created by people whose data is unknown. Block time is almost instantaneous, which is why Dash is great for quick payments. The first block was launched in 2014, and the target number of coins is to be 18 million.
Tron
the currency was created in Singapore. The platform founded by Justin Sun was aimed at creating a system for the production of entertainment content through smart contracts. Each currency holder can take part in free data storage or publication. The unit price of this coin is relatively low, so it is worth getting at least a smaller quantity and checking if it will not bear fruit in the future.
Zcash
this is a so-called peer-to-peer cryptocurrency. This means that in its case, users are guaranteed anonymity as part of the transaction (the system does not record the recipient, sender or amount). The high-end zk-SNARK encryption algorithm is also worth mentioning. For the extraction of this cryptocurrency, excavators can use the processor to a large extent and also (not only) the graphics card.
Where to buy altcoin cryptocurrencies?
The most popular altcoin cryptocurrencies can be bought and sold using wallets. In the case of our platform, you can count on full security and low rates. The purchase and withdrawal of funds can take place at any time, and we do not charge a commission for buying the cryptocurrency. You can store funds with us, just like on a cryptocurrency wallet, and we do not require a subscription fee. This is a good solution for beginners, because the exchange office is a much safer solution than the exchange. You can link your account with your MasterCard or Visa card.
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