Important cryptocurrencies other than bitcoin and Ethereum

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As the name sounds, Cryptocurrencies are the currency of the digital world. The idea to develop a digital currency was not an overnight thought. Still, over time, designers and programmers were able to work over the idea and came up with cryptocurrencies, the present-day digital currency.

Though bitcoin and Ethereum are the forerunners of cryptocurrency, many cryptocurrencies still share their success story.The article is loaded with information on various successful cryptocurrencies other than bitcoin and Ethereum, which have shaped the cryptocurrency world in their own way.

1. Litecoin

The first altcoin, Litecoin, was designed to be used as an everyday currency. It is also one of the first altcoins to be created during Bitcoin’s infancy. Designed by Charlie Lee in 2011, it has become one of the most successful altcoins to date. Open-source worldwide payment network Litecoin is based on employing “script” as proof of work, which CPUs of consumer-grade can decode without the intervention of a central authority.

2. Ripple

Ripple is a currency and a system through which any currency can be transferred. Introduced in 2012, ripple has become the 2nd most popular cryptocurrency after Bitcoin. Only recently has it come into the limelight, but still, with an average market cap of over $806 million, it has managed to be where it is today.

3. Dogecoin

Dogecoin is the internet sensation of 2013. The dogecoin came into the market as a joke, and to date, it is being used as a thorough internet sensation. Introduced in December 2013, dogecoin has a current market cap of over $ 24 million.

4. Dash

Dash is a cryptocurrency that is a blend of “digital” and “cash.” Introduced in early 2014, it has around a $ 61 million market cap. It is one of the most popular types of crypto currencies, investing after consulting cent account brokers for better investment.

5. Peercoin

Started in 2012, Peercoin was initially named as ‘poor coin,’ but later on, it was rebranded. Peercoin provides cross-border transactions without any risk.

6. Mastercoin

Mastercoin is not a new cryptocurrency but still an important one to know about. Introduced in 2013, Mastercoin provides users with various financial services like crowdfunding and trading on an open-source public ledger.

7. Namecoin

The next cryptocurrency in the row is Namecoin which has a current market cap of $ 12 million. It provides users with secure identity management and also acts as an alternative to DNS systems that you might know about.

8. Quark

Introduced in 2013, quark is another cryptocurrency that focuses on security and decentralization. The current market cap of quark stands at $ 2 million.

9. Primecoin

Primecoin is yet another cryptocurrency launched in 2013, and it has a current market cap of $ 2 million. It is based on prime numbers and provides proof of work for miners, helping them find prime numbers.

10. Counterparty 

Counterparty is a bitcoin 2.0 project that allows users to create markets, store registries of debts or promises, and make bets with a market cap of $ 1 million.

11. Cardano

Introduced in 2017, Cardano is considered the third-generation platform after Bitcoin and Ethereum. It has its own cryptocurrency called ADA, the amount of coins of which in February 2022 is about 33.58 billion dollars.

Cardano is often referred to as an eco-friendly network due to its minimal electricity costs.

Conclusion

Though there are many other cryptocurrencies in the market like bitcoin and Ethereum, which have gained popularity, there is still much more to be known about, like Riecoin, Devcoin, Freicoin, etc. Ixcoin. Invest in one knowing it’s legit or not, if you have heard of omegapro scam, check before investing. A cryptocurrency must be understood as a medium of exchange rather than just being stored for future use.

Author

George Rossi

George is the Chief Market and Broker Analyst at brokertested.com. Prior to being recruited by brokertested.com, I served SVS Securities as Chief Market Analyst for two years. Earlier, he joined Morgan Stanley in Nov 2013 as Research Analyst.

George is a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.



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