Jay is our crypto nerd and enthusiast. He had a deep understanding of Blockchain technology and its mechanisms. On his free time, you'll find him attending all sorts of tech conferences in the US and Worldwide as well as playing chess in parks
Cryptocurrency is complicated cryptography which enables a digital token to be generated, stored and transacted anonymously. These cryptocurrencies are generally developed by means of mining. One of the most common types of coins used in cryptocurrency is Bitcoin, but in this article, we are going to be looking at some other important types of cryptocurrencies which is not Bitcoin.
EOSEOS is one of the newest digital currencies which was created by Dan Larimer. He was the person who founded digital currency exchange ‘Bitshares' as well as ‘steemit.’ EOS is designed after ethereum as it allows developers to build decentralized applications.
CardanoCardano was launched in September of 2017; it offers the benefits ethereum offers. It also gives a platform for smart contractors to help use ethereum much better. It aims at solving some of the most prominent problems in the crypto world, which are interoperability and scalability.
NEONEO was originally called AntShares by the creator Da Hongfei. It is the largest cryptocurrency in the world which originated from China and due to its smart contracts, it is also called ‘Chinese ethereum.’ Due to its relationship with the Chinese government, NEO has experience benefits which were once considered to be harsh.
Bitcoin CashBitcoin Cash is one of the most successful coins in history. In the crypto world, due to the results of debates and arguments between the developers and miners, this digital currency split and as the result of this split bitcoin cash can into existence.
MoneroA secure, private and untraceable currency is monero and with its launch in 2014, it spiked the interest of the cryptography community. This cryptocurrency is donation based and was launched with a strong focus on decentralization and scalability. Also, it provides complete privacy with its special signatures called ring signatures.
RippleRipple is a real-time global settlement network which offers low-cost international payments. With its launch, it enabled the banks to settle cross border payment also in real life, with transparency and also at low cost. Ripple does not require mining; it operated by reducing the usage of computing power while minimizing network latency
DashAlso known as Darkcoin, offers anonymity as it offers on a decentralized master code which makes the transactions untraceable. This cryptocurrency was developed by Evan Duffield and can be easily mined with CPU or GPU.
ZcashA decentralized and open source cryptocurrency which was launched in 2016 offers privacy and selective transparency. Zcash provides protection by recording the transaction and then publishing it in blockchain while keeping the sender and receiver details private.
EthereumA decentralized software platform which allows distributed applications to be built and run without downtime. Ethereum runs on platform-specific cryptography token called ether.
LitecoinLitecoin was launched in 2011 with bitcoin and has been referred to as ‘the silver to bitcoins gold.’ The creator of the litecoin Charlie Lee made it an open source payment network where they use scrypt as the proof work which can be decoded with the help of CPU.
Cryptocurrencies are virtual currencies which operate independently of government or banks but can still be exchanged just like any other physical currency. With the launch of bitcoin, the first decentralized cryptocurrency can into existence. Although, bitcoin remains on the top, there are many more currencies which could be challenging the leader such as bitcoin cash, bitcoin gold, ether, ripple, stellar and NEO, as they are slowly rising to demand, expanding applications and advancing their technologies. These are very important, especially if you are a cryptocurrency trader. These cryptocurrencies give vital clues on how to supply and demand for each coin, which might change over time. These traders, in turn, influence market prices and learn how to trade cryptocurrencies.