In the world of digitalization like today, We Heard the word Bitcoin every day.
So what is a bitcoin?
Bitcoin is one of the cryptocurrencies available in the market to make digital payments anywhere anytime.
It is not an exaggeration that Bitcoin, the first decentralized crypto-currency, is ruling the crypto-currency market now. Many international companies like Microsoft, WordPress are accepting them.
So, what is a crypto-currency?
Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions.
Do you know that there are many other crypto-currencies other than Bitcoin?
These are giving a tough competition to Bitcoin now. In this post, I would like to share a few alternatives to Bitcoin.
The blockchain-based crypto-currency token provided by Ethereum is ether” was available in the market from 2014 and has been developing quickly since the beginning and considered as the toughest competitor for Bitcoin.
Monero, on the other hand, is known for its security and privacy of transactions made. It is available since 2014 and a drastic increase in its market value has been observed from the past few months.
Ability to store on PC, Laptop, Mobiles and Tablets makes this a tough competitor to Bitcoin.
Started in 2016, It is based on block-chain technology and can be transferred globally. We can exchange this with other crypto-currencies too.
Considering a huge competitor to Bitcoin, IOTA has a market capitalization value of 11,000 Million Dollars (0.75 lakh crores) approximately and rising day by day.
Ripple network links Banks, Payment providers, Digital asset exchanges has been using since 2012 to make global financial transactions instantly. XRP is the crypto-currency of Ripple.
As of December 2017, the market capitalization of XRP is 31 Billion Dollars, making it the 3rd largest crypto-currency in circulation.
This open-source peer-to-peer crypto-currency has been using globally for instant payments.
There will be No time stipulations for transactions and very less fee for payments.
But there is a bad need to develop more tools to make the payments more secure and reliable.
That’s all about the few digital currencies competing Bitcoin in the market now.
Missing anything from the list?
Please do share with me at firstname.lastname@example.org.