Other cryptocurrency : Altcoins


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It's known that Bitcoin is the first digital currency which was created in 2009 using open source code and it's what paved way for the creation of so many altcoins we have today. There are so many altcoins that discussing all of them wouldn't be possible at the moment, so I would have few important ones discussed. They are ;

Litecoin is a peer to peer internet currency that allows payment with almost zero cost just as Bitcoin works. It's a full decentralized digital currency without any central authorities. Litecoin was created in 2011 with two basic goals which are to make it faster than Bitcoin and a different proof of work which would make it easier to mine.

As we already know that Bitcoin is what brought us blockchain messages, it's technology and decentralized nature of currency without any central authority influence. Ethereum offers smart contracts, digital access and possibility of doing more than money transfers using the blockchain technology. Ethereum was born as a result of the short comings of Bitcoin mainly serving as a tool technology for money transfers. Ethereum was founded in 2013 but was officially announced to the world in 2014. One can do more than just sending money between people using the ETH blockchain or send information between programs, programs can be designed to run on Ethereum and its OS would allow it to run efficiently and effectively.

Initially, Dash was known as Darkcoin which was developed by Evan Duffield with the sole purpose of enhancing on Bitcoin protocol with improved privacy and increased speed of transactions. Dash was renamed from Darkcoin in March 2015. Dash operates on a self funding structure which means that once the coin is mined, 10% of its benefits goes to the system structure in order to improve the currency ecosystem. Speed and privacy is the main focus of Dash.

Neo is simply known as the Ethereum of China, it's a coin just like Ethereum which runs as a smart contract platform. It's a blockchain created for a smart economy which China is and it's probably why it's referred to as the Ethereum of China. The blockchain of Neo has ICO and it aims at the global market with its tentacles spread across USA, Europe and Asia. One advantage of Neo is that it's highly approved and supported by the government which is something other cryptocurrency are looking at achieving to make it globally accepted.

There are still so many more altcoins but I'm going to stop here for now. I hope this is informative a little bit.