In our fast paced world, it can feel as though that every day brings with it a new cryptocurrency. As the list of currencies grows, it can be confusing and difficult to keep track of some of the most promising and useful new currency. To help round up some of the stand outs, the following list has been compiled to assist those interested in the growing world of alternative currencies.
Coinye (honorable mention)
The young and promising are often the first to go in this cruel world, and that goes for cryptocurrencies no different. Perhaps as a result of its lighthearted aesthetic and pun-based name, the online currency met its demise due to plummeting usage and legal trouble from Kanye West’s legal team. While now defunct, Coinye reminds us of a time when cryptocurrency was still growing and not taken as seriously.
Originally a fork from Bitcoin, Litecoin distinguished itself by claiming to process blocks at four time the speed of bitcoin, allowing for faster transactions, as well as planning to release 84 million Litecoins (4 times as many as Bitcoin) over the course of the currencies lifetime. One of the older currencies, it was first introduced in 2011. The currency has seen a promising rise in evaluation since late March of 2017, making it a currency to keep an eye on.
The aim from the beginning with Dogecoin was to attract a wider userbase and make cryptocurrency less intimidating to the average person. This was achieved with a likable meme used as the mascot, as well as a cheap price per coin. This currency has also gained public attention for multiple fundraisers, including one that got the face of Doge on the side of a NASCAR vehicle as a sponsor.
Ether is the currency of the Ethereum blockchain, and doled out in return for computations done for the Ethereum Virtual Machine, a decentralized distributed computing system. It’s one of the newer cryptocurrencies, first hitting the scene in 2015 and rising to prominence in past months. Future prospects for this platform seem promising as it continues to grow, as well as Microsoft announcing a major new service that will use Ethereum as its backbone.
One of the more ambitious altcoins, Dash boasts several features that set it apart from Bitcoin. These include instant transactions, and a decentralized governing system that involves users voting on what changes for the platform will be funded. The currency continues to show growth and potential as it achieves new highs in terms of value in the past months.
There is little to said about Bitcoin that hasn’t already. It’s undeniably the most widespread cryptocurrency and is often spoken of throughout popculture and across the internet. Despite its age, it continues to make headlines with its growing acceptance as a legitimate currency along with its evaluation rocketing to dizzying heights.