The 6 Most Important Cryptocurrencies Other Than Bitcoin

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You'll have heard all about bitcoin, but it's far from the only example of a cryptocurrency, digital mediums of exchange based on cryptography that feature a secure, distributed ledger known as a blockchain. The system isn't working. At the foundation of this is payments; I need to best cryptocurrency besides bitcoin money to you, and it's going to go through a bank, best cryptocurrency besides bitcoin all the dysfunctions of the banking system.

So you need a separate system. The result has been a slew of so-called initial coin offerings, many of them out of Hong Kong. Most, says Wang, are worthless, adding that 90 percent of ICOs are scams. But, human nature being what it is, there are still plenty of people interested in putting money into a Ponzi best cryptocurrency besides bitcoin as long as they can assure themselves they're high enough on the chain. Fortunately, not all cryptocurrencies are disreputable.

The best-known platform other than Bitcoin is Ethereum. Also based on blockchain, it features currency tokens called Ether. Where Bitcoin mining—the process of creating the currency by solving preposterously complex calculations — is intensely hardware- and energy-intensive, Ethereum allows the money-creation process to be scripted.

Litecoin, for example, is almost identical to Bitcoin, but processes transactions much faster. It features so-called zero-knowledge proofs, meaning that if you can prove that a transfer happened, then it happened. A year ago best cryptocurrency besides bitcoin thought anonymous coins were for drug runners. The Ripple protocol, for example, features a cryptocurrency called XRP, but also supports a range of other units of value, from currencies to commodities.

Transactions are verified based on networks of trust relationships between participants. It has support from banks, who use it as a settlement network, allowing their various systems to talk to best cryptocurrency besides bitcoin other. Each was created by a so-called hard fork from the original Bitcoin and Ethereum on a different blockchain, after users disagreed about the technical characteristics of the currency.

In each case, one version is likely to win out; good luck predicting which. See more wealth management stories on Hong Kong Tatler. Hong Kong Tatler Javascript is disable! Please enable Javascript and refresh to access the site.

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This is a list of cryptocurrencies. From Wikipedia, the free encyclopedia. Cryptocurrency with the most famous, popular, notable and highest market capitalization.

First block chain to support currency creation by interest paid on debt. Solidus Bond proto smart-contract. One of the first digital coins patented in the US. First block chain to support encrypted mail with attachments. Not based on bitcoin. It is commonly used to convert other cryptocurrencies to USD. Retrieved December 31, A Brief Thematic Review. Economics of Networks Journal. Date accessed August 28, Retrieved January 24, Retrieved January 14, A guide to some other crypto currencies".

Association for Computing Machinery. Retrieved July 24, Accessed December 28, Retrieved December 14, Archived from the original on Retrieved November 14, Retrieved April 9, Retrieved April 11, Using the Blockchain for Good". Retrieved January 20, Retrieved January 18, Mining Crypto currency with a Purpose". Retrieved January 15, Archived from the original on February 3, Retrieved December 21, The Wall Street Journal.

Retrieved October 13, Retrieved November 13, Retrieved June 18, Retrieved November 18, Grayscale launches digital-currency fund backed by Silver Lake's co-founder Hutchins". Retrieved April 27, Retrieved December 27, Retrieved October 20, Retrieved September 14, February 10, — via GitHub. Retrieved January 11, Retrieved January 13, Proof-of-authority Proof-of-space Proof-of-stake proof-of-work.

Dogecoin Gulden Litecoin PotCoin. Dash Decred Primecoin Auroracoin. IO Gridcoin Nxt Waves. Anonymous Internet banking Bitcoin network Complementary currency Crypto-anarchism Cryptocurrency exchange Digital currency Double-spending Electronic money Initial coin offering Airdrop Virtual currency. Retrieved from " https: Wikipedia indefinitely semi-protected pages Use mdy dates from January Articles containing potentially dated statements from April All articles containing potentially dated statements.

Views Read View source View history. This page was last edited on 15 May , at By using this site, you agree to the Terms of Use and Privacy Policy. Satoshi Nakamoto [nt 1]. SHA-2 56d [6] [7]. The first decentralized ledger currency. The first cryptocurrency to use Scrypt as a hashing algorithm. Vincent Durham [11] [12]. Also acts as an alternative, decentralized DNS.

First digital coin with theoretical value based on the work required to produce electricity. First cryptocurrency based on the CryptoNote algorithm. Focused on user privacy through impassive and anonymous transactions. Sunny King pseudonym [15]. Trusted storage for any small data: The first cryptocurrency linked to citizen science through the Berkeley Open Infrastructure for Network Computing [28] [29]. Uses the finding of prime chains composed of Cunningham chains and bi-twin chains for proof-of-work, which can lead to useful byproducts.

Ripple [32] [33] [34]. Designed for peer to peer debt transfer. Specifically designed as a flexible platform to build applications and financial services around its protocol. Baldur Odinsson pseudonym [40]. Used American hip hop artist Kanye West as its mascot, abandoned after trademark lawsuit. A bitcoin -based currency featuring instant transactions, decentralized governance and budgeting, and private transactions.

Privacy-centric coin using the CryptoNote protocol with improvements for scalability and decentralization. Scala , Java [52]. The first cryptocurrency to be nominated for a major adult industry award. Open-source, decentralized global financial network. Supports Turing-complete smart contracts. Jan Ludovicus van der Velde [68]. Scala , JavaScript [73]. Open blockchain platform, featuring token creation, distributed exchange and fast, high volume, transactions designed for ease of use [74] and mass adoption.

Feeless Smart contract platform for decentralized applications and decentralized autonomous corporations with a block time of ms. KodakCoin is a "photographer-centric" blockchain cryptocurrency used for payments for licensing photographs. First cryptocurrency backed by Venezuela 's reserves of oil.