It cannot be denied that when we talk about the cryptocurrency market, we often think of Bitcoin. However, it is worth getting to know other projects with significant development opportunities! Which of them are worth paying special attention to? What cryptocurrencies are worth being interested in, apart from Bitcoin? Check it out! What are interesting and popular cryptocurrencies characterized by? What are their advantages? Find out more!
EOS is a novelty that appeared at the forefront of the best cryptocurrencies in 2020. It cannot be denied that this is a great achievement, considering that it is one of the younger cryptocurrencies. It was introduced to the market only in 2018, and its creator is Daniel Larimer.
EOS provides a platform on which developers build decentralized applications. Unlike many cryptocurrencies, EOS is unique due to the lack of a coin mining mechanism. It is based on an ownership model where users own resources and can use them on a share-based basis, rather than paying for a transaction. Thanks to this, everyone who owns this cryptocurrency can use its computing power in any way, depending on the number of coins held.
Ethereum is a cryptocurrency with Russian roots that was launched in 2015. Its creator is Vitalik Buterin, who previously worked on, among others, Bitcoin. Ethereum appears in second place in the 2020 cryptocurrency rankings.
Ethereum is based on blockchain technology. Unlike Bitcoin, where currency is mined, Ethereum has both investors and users to hold the coin. Due to the possibilities offered by Ethereum (ETH), the technology has caught the attention of enterprises and companies that have noticed that it can improve the lives of ordinary people.
Ripple is an open-source platform that has been created to enable fast and cheap transactions using the XRP cryptocurrency created by the project. Thanks to this, it solves the problems related to time and costs that arise with traditional transaction settlement systems, such as PayPal or SWIFT. The way XRP works is slightly different from that of other currencies, because in the case of Ripple there is no need to mine, which is the case with, among others, Bitcoin.
It is a cryptocurrency introduced in 2014 with a strong emphasis on privacy. It works as open-source, thanks to which the technology and software are constantly tested and improved by cooperation with other users. An important feature of Monero is that the cryptocurrency has been configured to not only hide the identity of senders and recipients, but also the entire amount of each transaction.
However, it is worth following the latest information about Monero, because in November 2020 the analytical company CiptherTrace filed patents for the technology that is to enable XMR transaction tracking. This would mean Monero could lose its cryptocurrency position for anonymous transactions.
Its prototype was Bitcoin, which is why Litecoin is based on a modified Bitcoin source code, whose creator is Charlie Lee. Litecoin is one of the oldest cryptocurrencies – it was established in October 2011. Unlike Monero, Litecoin does not provide transaction anonymity, and its blockchain is public and open to the public.
If you were to compare Litecoin with Bitcoin, you can quickly notice a lot of differences. Starting with the frequency of generating Litecoin – Bitcoin is created on average every 10 minutes, and Litecoin every 2.5 minutes, and ending with the total number of Litecoins, which is 4 times more than Bitcoin.
Litecoin currently does not enjoy a high position in the cryptocurrency rankings, but many experts point to its development and regaining its previous rank. It is therefore worth keeping in mind.
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