Cryptocurrency resembles real money but appears as a digital capital form and it does not govern or control by the central authority. Private Cryptocurrency an innovative product of this digital era, operates a monetary system without any middleman, government, or any banks’ involvement. However, in most scenarios, users are required to adopt a digital currency exchange to purchase and trade the digital assets. In terms of security enhancement, cryptocurrency is especially computer-coded with an encryption called cryptography. It developed like an elaborated puzzle on purpose as it became hard to hack.
List of Top 10 Cyrptocurrency other than Bitcoin-
Here, in this writing post, a list of top-reviewed cryptocurrencies is discussed that signifies the most renowned crypto projects in the present industry.
Bitcoin is widely popular as a genuine cryptocurrency. In 2009, it has appeared as an open-source application. Whitepaper’s author entrenched this digital currency under the pen name of Satoshi Nakamoto.
In which process Bitcoin perform?
Applying the latest blockchain technology, Bitcoincosniders users to perform peer-to-peer transactions transparently. All these transactions are visible to everyone; within this blockchain technology Bitcoins are protected by the algorithm. Though all can see those transactions, only the Bitcoin holder has the ability to decrypt them by giving a ‘private key.’
In 2011, Litecoin appears in the market as a substitute for Bitcoin. Litecoin acts like other open-source cryptocurrencies and able to establish a global payment network that is entirely dispersed; no middleman authorities.
The number of differences between Litecoin and Bitcoin is as following-
- People consider Litecoin to deliver faster transaction than Bitcoin
- A huge gap between coin limits; Bitcoin limited to 21 million whereas Litecoin to 84 million
- Performs on different algorithms, Bitcoin’s is SHA-256 and Litecoin’s is scrypt
Ethereum is an open-source cryptocurrency invented in 2015 based upon the platform of blockchain technology. Regarding the ownership of virtual currency transactions, Ethereum solely concentrates on driving the performing code of any dispersed software. It allows users to use the application to perform different payments including transaction services and fees on this network.
Bitcoin Cash comes under the segment of virtual currency that innovated to develop certain services of Bitcoin. Bitcoin Cash enhanced the blocks’ size and allow users for more transactions to be performed faster.
An edition of the Ethereum blockchain platform is known as Etherem Classic. It works on smart contracts on the same decentralized medium. A wide number of applications come as Smart contracts that operate properly as programmed without any type of fraud, downtime, censorship, and third-party interface. As the Ethereum platform, it serves a token that resembles valuation called ‘classic ether’ that is applied to pay customers for services or products.
A virtual currency Zcash was developed on the genuine Bitcoin code platform. MIT’s popular scientists, John Hopkins, and other scientific institutions, academics framed this cryptocurrency and developed it on a dispersed blockchain.
Stellar Lumen (XLM)
An intermediary currency, Stellar Lumen offers people numerous types of currency exchange. It considers a user to transact any currency according to their need to anyone else in another currency. Jed McCaleb in 2014 discovered this open-source Stellar platform and developed the native currency.
Ripple thought counts as a cryptocurrency it does not base upon blockchain technology. It has not that important for any individual user. Rather it suits appropriately to any large organization and corporation for transacting huge amounts of money all over the world.
Companies are well aware of its virtual payment protocol and have become an efficient application for its XRP crypto tool. This tool is well considered for moving a particular currency in any currency form, be it Bitcoin or even in dollars. Ripple claims in the industry that it can manage 1,500 transactions in every single second.
Neo emerging very positively to place its name among the leading crypto players and it is formerly known as Antsahres invented in China. It fundamentally concentrated upon the virtual or smart contracts that consider users to develop and perform agreements without any intermediary usage.
Bitcoin Satoshi’s Vision (Bitcoin SV)
Bitcoin Satoshi’s Vision is an outcome of 2018’s split format or separate branch of the Bitcoin Cash. It is primarily discovered to operate closely the genuine objective of Bitcoin, decentralization, and utilization of cryptocurrency for payments in particular.
The number of cryptocurrency users is rising dramatically and by September 2020, this figure of crypto wallet users has reached greater than 50 million. In the report published by Statista, the figure of Bitcoin users is increasing highly throughout the globe and it already has a 7 million active user-base. However, there are different cryptocurrencies are mentioned above and their purposes might not differ from each other but all of them are serving the best services to the users in digital currency transactions.