Bitcoin is the pioneer currency to have existed in cryptocurrency history. The first of its form to become decentralized in its operation. Ever since this cryptocurrency came into being, it has given rise to many such other cryptocurrencies that have been made on its touchstone.
During its initial times, this currency hardly possessed any value but as it gained pace, it started to give birth to many other currencies that came with certain similarities and disparities in their origin and the way they operated in the crypto industry.
Bitcoin ever since it attained value and people’s support, no other cryptocurrency has even dared to compete with its popularity. It is today, is one of the most famous and popular coins that people are investing in. There is an enormous feature that a cryptocurrency offers which is why in today’s digital era they have gained quite huge popularity in the digital market.
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Apart from bitcoin, many famous currencies have stepped in with new features to attract investors. Some have a different algorithm that they use to mine a new coin called proof of work while some use a proof of stake mechanism. Some offer more transactions per second and so on. The list of features has no end and is being amended from time to time with innovation in this field.
SOME OTHER FAMOUS CRYPTOCURRENCIES ARE
The list of currencies has been discussed below briefly and most lucidly. The first such cryptocurrency is:
ETHEREUM
The first on the list is Ethereum that is said to be the first alternative coin to exist after bitcoin. One of the most talked-about features is SMART CONTRACTS. Its founder had worked for Bitcoin, which gave him the knowledge as to the vanishing shortcomings of Bitcoin by bringing the first altcoin into existence with some more advanced features. The feature called smart contract is self-executing and does not ask any third party to execute it for the said purpose. After bitcoin, it is number two, both in popularity and market cap.
LITECOIN
The second one on the list is Litecoin. It came into existence as a lite version of Bitcoin and is said to have been operating itself as its parent coin which is Bitcoin. Its founder Charlie lee had envisioned it to be just like Bitcoin but certain features that it additionally provided are:
- It can generate more blocks in less time than bitcoin
- Low processing fee
- No advanced equipment for mining, CPU is enough for mining.
- It can be substituted with bitcoin
- Verifies transactions much faster.
These are some of the most famous features. One can add to the list this cryptocurrency if they are looking for Bitcoin’s shadow. Its market cap has also shown it as number 6th as per capital.
BNB (BINANCE COIN)
Binance coin has come as a payment method after the famous cryptocurrency exchange that made it for the trading purpose by providing discounts to the users already using its token as a payment method. The method for the coin generation used is proof of stake and is different from proof of work.
TETHER
Tether is one of the most famous stable coins the crypto industry has. It has been made to operate as a stable coin because it reduces the volatility of the market condition for which people are often scared. By being a stable coin it goes along with the equal value of a fiat currency.
CONCLUSION
I hope the article has succeeded in disseminating the required information as to the famous cryptocurrencies other than Bitcoin. I hope it gives the necessary information for enabling you to make better choices.