Bitcoin is definitively a trendsetter in the crypto world. It served as an inspiration for other altcoins and made developers and innovators to work harder and create something that Bitcoin might not be good at. These other currencies are easier to get to, they are much cheaper and there is less risk included when investing in them. Although it is very difficult to choose only 5 of almost 700 cryptocurrencies, we believe that the following cryptocurrencies offer great advantages and are affordable and accessible for every person.
Litecoin was created in 2011 and is to this day referred as silver to Bitcoin’s gold. It was created by Charlie Lee, a former Google engineer. Litecoin has an open source payment network which is also decentralized. It uses a ‘’scrypt’’ mechanism which is a type of proof-of-work mechanism. Litecoin can generate blocks much faster than Bitcoin can and allows you to make a faster transaction confirmation. Litecoin is one of the currencies with the biggest percentage of adoption.
Ethereum is a decentralized platform launched in 2015. It makes it possible for users to create Smart Contracts and building of dApps. Ethereum uses its own token named Ether and is used mostly by developers that want to develop and run applications within Ethereum. In 2016 Ethereum split into Ethereum and Ethereum Classic. This cryptocurrency is right behind bitcoin with a market cap of $41.4 billion.
Zcash is a decentralized, open-source cryptocurrency, created in 2016. The great thing about Zcash is the opportunity to be selectively transparent of transactions. Zcash claims to offer great privacy and security by encrypting the content with complex cryptographic techniques.
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