There are over a thousand cryptocurrencies operating all over the world, but it appears like Bitcoin has been riding up so high. Apart from being a trendsetter, it has also introduced a new crop of cryptocurrencies that are entirely built on a decentralized peer-peer network. Altcoins is the name that has been given to the currencies that were inspired by Bitcoin.
Here are 13 cryptocurrencies that are doing equally well.
Launched in 2011, Litecoin was among the first cryptocurrencies that came after Bitcoin. It was created by a former Google engineer known as Charlie Lee, who was also a graduate of MIT. This cryptocurrency entirely runs on an open source, which is its worldwide network of payment.
This is a hardfork for the main Bitcoin cryptocurrency, which took place on block 491407 towards the end of October 2017. The fork was mainly created to introduce an ASIC resistant Bitcoin by simply re-applying the Zcash’ s proof-of-work algorithm. Within the short time it has been in operation, there have been various fraudulent acts and hacking attempts to its main wallet. Most of these attempts were seen at a period between 12th to 15th of November 2017.
Commonly referred by many as the Chinese Ethereum, maybe because it is the China’s first open-source, decentralized cryptocurrency and blockchain platform. NEO has a crypto-token known as GAS, having changed from ANC-Antcoins. NEO was founded in 2014 by Da Hongfei and Zhang Zhengwen. Its use cases are smart contracts, digital identities, dapps and digital assets.
This is a secure, untraceable, and private currency that was launched in April of 2014. Its development is entirely community-driven and donation-based. It uses a technique known as ring signature to enable complete privacy.
QTUM has combined an intercompatible version of Ethereum Virtual Machine with an advanced infrastructure of Bitcoin Core to create a hybrid blockchain application platform. It was created by Qtum Foundation, based in Singapore.
Monacoin is another open-source and decentralized cryptocurrency that was forked from Litecoin and introduced officially in 2014 January in Japan. This platform enables users to transfer funds to its millions of users across the globe.
This is also another cryptocurrency and uses a token known as LSK. It takes just ten seconds to send LSK from one account to another, and the transaction can be considered immutable after one to two minutes.
It uses the Lisk App SDK as its main framework, and can still help in creating other blockchain apps and sidechains.
Stratis is a BaaS platform, an abbreviation for blockchain-as-a-service, which was mainly designed to provide solutions for various corporations that are in the financial sector. It gives companies the opportunity to come up with their custom blockchain applications with their desired features.
Introduced towards the end of 2016, Zcash is another open-source and decentralized cryptocurrency that provides selective transparency and privacy of transactions. Its users are given the liberty of shielded transactions, which enables contents encryption using zk-SNARK, a cryptographic technique.
Waves is yet another blockchain and open-source platform that enables users to develop their own custom cryptocurrency tokens. Users of this cryptocurrency can not only create and transfer blockchain tokens, but also exchange them on a peer-to-peer basis. Its token is WAVES.
OmiseGo is a cryptocurrency project that seeks to unbank the already banked by applying a technology that is entirely based on Ethereum, another cryptocurrency. Its token is abbreviated as OMG.
Populous is another cryptocurrency platform that allows users to either sell or purchase invoices using blockchain technology. It is basically a smart contract invoice-discounting platform that is available on the Ethereum blockchain.