10 Interesting Non-Payment Cryptocurrencies that you should know
Cryptocurrencies are on the rise, no doubt about it! With Bitcoin’s spectacular success, a host of other Cryptocurrencies are fighting to make their mark on the Virtual Currency world. Competitors to Bitcoin are striving to become better versions and gain widespread popularity. If Cryptocurrency takes over the world, Money will no longer be centralized but will be for all. That is the power virtual money entails which is why the entire world eagerly awaits its development. Almost everyone remotely interested in investments seems to be highly interested in new cryptocurrencies. Below are 10 Interesting Non-Payment Cryptocurrencies you should watch out for:
Ethereum is making waves in the Cryptocurrency world and is constantly looking to outdo the Bitcoin. Ethereum serves as a platform for decentralized applications to stand on. Ethereum uses a varied scripting language in its blockchain and can serve a larger user base. Ethereum’s Smart Contracts will help you build powerful applications that will always be up and running.
Litecoin is close behind Bitcoin in terms of value and is attracting cryptocurrency newbies who are intimidated by the Bitcoin. Litecoin also has a faster blockchain generation compared to Bitcoin and is mined easily. Another favourable factor of the Litecoin is that it has an almost zero payment cost. It also supposedly enables faster transaction confirmation compared to the Bitcoin.
The next cryptocurrency on the list is Ripple which is different from other virtual currencies in that it doesn’t need mining. Its defined as a real-time global settlement network belonging to a private company aimed at lowering the cost of international payments across the globe. Ripple is working to bring down the delays from exorbitant fees charged by financial institutions like banks and payment gateways like PayPal.
Monero is a cryptocurrency that produces new units through mining. Transactions with Monero hides specifics like the sender, receiver, and the transaction amount while mining is made equal. Users have more control over their transactions and privacy with money exchange. They also have excellent exchangeability with no pre-set size limit to prevent spam transactions and system clogging.
Zcash is a cryptocurrency with unique features. Zcash transactions are discrete and all the information pertaining to them are encrypted and hidden. Zcash uses zero knowledge proofs and is based on an open source code. Originally aimed at providing anonymity to users of Bitcoin, Zcash enables senders and receivers to regulate anti money-laundering and tax on anonymous transactions.
True to its name, the SolarCoin is a unique virtual currency aimed at funding solar electricity distributors. SolarCoins are easily exchangeable and have a market capitalisation worth $1.3 Billion. Homes utilising solar energy panels or farms can claim SolarCoins. SolarCoins were founded with the intension of combining renewable energy production with Blockchain technology to achieve massive progress in both.
Dash is a Cryptocurrency that was born for shopping. Dash is a convenient alternative to PayPal and boats of being the most user-friendly. It sits on a two-tier network and enables the fastest transactions as well as instant deposits.
The Virtual Currency Factom also focuses on maintaining user anonymity with prospective applications including voting systems, legal applications, medical records, smart cities, and private storage of movie scripts and reels. Factom holds a low value presently and has a very remote chance of being hacked.
Like all cryptocurrencies, the brand new NeuCoin also desperately wants to beat the BitCoin. Whether it is successful or not, it varies from the Bitcoin in many aspects. Derived from the PeerCoin, NeuCoin is a p2p powered decentralized cryptocurrency that’s based on PeerCoin’s proof-of-stake mining method. NeuCoin wants to enable highly user friendly microtransactions and currently holds a market capitalization worth $31 million.
BlackCoin emerged with a view to be the fastest, and most secure digital currency to exist. BlackCoin holds similarities with the public ledgers managed at traditional banks placing the power to view and edit in the hands of users. BlackCoin runs on a completely open-source network and is currently market capitalised at $2 million. BlackCoin’s network security occurs through a process known as ‘Minting’. BlackCoin’s Proof of Stake system efficiently utilizes storage space and bandwidth, making it less expensive.