10 Cryptocurrencies except Bitcoin
We live not so much in the technical, as in the technogenic age. The reason for this is the invention and development of information and computing technologies, and the worldwide spread of the Internet, which covered almost the whole surface of the planet with an invisible web.
The progress of unprecedented hitherto scale touched practically all, without exception, the means of human activity. Even 8 years ago we did not know that radical changes would occur in the sphere of financial relations. At that time, there were electronic currencies and online resources for their exchange and cashing, but the phenomenon of digital money, born in 2009 thanks to the efforts of the anonym, known by the nickname Satoshi Nakamoto, marked the beginning of the era of this financial revolution.
For today already exists more than 900 names of crypto-currencies. Technically, existing cryptocurrencies can be divided into coins created on the basis of the technology of the blockbuster and the Ethereum platform used in writing and integrating applications. The first crypto currency was bitcoin, designed as a decentralized monetary unit and used in conducting financial transactions on condition of anonymity. The Ethereum platform is a programming language that looks like a full-fledged service complex and serves as the foundation for creating a software product. The ETN, which appeared on the basis of the project, became a by-product and is of secondary importance. Bitcoin, however, was the ultimate goal of the developers, and this is their main difference.
Transactions using coins are anonymous, and their extraction is carried out by mathematical calculations using the capacities of PC graphics processors or special equipment – ASIC. The main task of the miners is to solve the block code and get a reward of 12 coins. The current market rate of Bitcoin exceeds $ 9,000, and demand substantially exceeds supply.
The basis for the creation of all existing peer-to-peer systems was Bitcoin. On January 3, 2009, the first issue of cryptographic currency Bitcoin took place. It is the founder of all types of modern crypto-currencies, which has full decentralization. For the functioning of the system, there are enough client programs that are connected in a chain and form a self-sufficient node. All transactions that are conducted between users do not require the involvement of intermediaries, although such an option is available. Transactions are irreversible. However, the price of this crypto currency, as well as many others, is not constant. Speaking of Bitcoin’s volatility, one should note one feature that has been established in recent years. In particular, after an unplanned drop in quotations, another jump in its rate takes place and it not only reaches the mark with which the next recession has begun, but it improves the previous value of the crypto currency and it beats its own next record.
But the list of all crypto-currencies is not limited to Bitcoin alone, which is the most popular in the world, and also offers the most advanced network infrastructure. Given that the first crypto currency has open source code, it was used to create alternative monetary units. Within 5 years of the birth of Bitcoin, more than 2,000 varieties of digital money have appeared on the market. Most of them, in spite of their screaming names, are all just forks (offshoots) of Bitcoin. That is, the basis for creating such currencies was the Bitcoin program code. In the crypto-currency system, one of the first forks was Namecoin.
The NMC was released in mid-April 2011 on Bitcoin’s source code, which underwent minor changes. The maximum limit of coins is 21 million. The NMC price is $ 2 for one Namecoin. The exception was July 2014, when the price of electronic cash NMC jumped to $ 10.
The calculation of blocks occurs on standard equipment for mining. The use of Merged Mining technology allows miners to simultaneously extract Bitcoins and Namecoins without reducing the efficiency of the calculations. The market capitalization of the crypto currency for November 2017 is almost 30 million dollars. The number of coins extracted: 14.5 million.
This type of crypto currency is created without centralized administration and is also Bitcoin’s fork. By volume of capitalization, Lightcoin stably enters the top four of the world’s cryptographic currencies. During 2016-2017, it shows a steady increase in value. At the end of November 2017, one LTC costs more than $ 90. By the end of 2020, 75% of all Lightcoins (84 million) will be generated. According to many LTC analysts, it is a worthy alternative to Bitcoin. Therefore, taking into account the large size of capitalization in the rating of crypto currency, Lightcoin always takes first place.
Feathercoin is almost the same as Litecoin. At the same time, the developers of these electronic money paid more attention to the mechanism of protection. Currently, about 175.5 million FTC are produced. The cost of the coin is $ 0.3, and the capitalization is $ 55.5 million. The system is quite young, since it began work in 2013. It was in the year of foundation that the service was hacked by intruders, after which the developers improved the security system and after that the FTC entered the top world’s cryptocurrency. The creators of the currency assure that at present the system can only be hacked if it controls 51% of the capacity. From a practical point of view, this is impossible.
The Crypto currency was created in 2013 and another popular fork of Bitcoin. The main goal pursued by the developers was to encourage investors to invest money. In their view, economic destabilization is primarily caused by the accumulation of corporations. Therefore, the creators introduced a tax of 5% for “simple” funds in the purses of the owners. Thus, the company encourages investors to invest in the turnover. Considering the rating of crypto-currencies, it is worth emphasizing that FRC adhere to the correct economic position. The maximum number of coins to be issued is 100 million. Also, the system presents itself as a charitable organization, as 8 out of 10 coins go to donations.
Cryptocurrency DOGE is the fork of Lightcoin. The currency is hedged by the modified Scrypt algorithm. To date, there are more than 112 billion coins. But the main feature of DOGE is that this system is not limited in quantity. In addition, transactions are conducted with a minimum commission amount, which is practically not felt by users, as well as high transaction speed.
The extraction of DOGE and LTC takes place simultaneously. When receiving Lightcoins, the user automatically becomes the owner of the Dogecoins. Therefore, both systems do not compete with each other for customers, but, on the contrary, they allow you to earn currency using one computing power. The payment system has a huge army of fans, regularly holds promotions and acts as a sponsor of sports events. Therefore, Dogecoin is in the TOP-10 world’s cryptocurrency.
This crypto currency has open source code, but it is not an fork. The program is completely unique. As of July 2016, the capitalization was $ 24.5 million, and in November 2017, more than $ 10 billion. As the payment unit, XRP is used. The price of the currency, the size of the block, the complexity and other indicators over the past year demonstrate relative stability. The peculiarity of transactions is the speed: several seconds are required for the transfer. In addition, considering the list of all the crypto-currencies, it should be noted that Ripple offers customers a minimum commission for the transaction at the level of 0.00001 dollars. But even these means the system uses only to maintain security, namely to protect against DDoS attacks.
NXT is a separate network platform that is not a clone. To make payments inside the system, Nextcoin, created using Proof-Of-Stake technology, is used. It’s about a service that does not need to be mined. All coins were mined at the start of the project and distributed among several dozen participants (73). In fact, NXT is not a system of crypto-currencies, but a special platform for connecting many applications, including virtual means. The user’s wallet in the system is created using the Brain wallet technology, which provides for the input and disposal of funds through a passphrase. The system was created in late 2013 and fully Russified
Peercoin is on the list of the most popular digital money. The system began operations in August, 2012. The SHA-256 algorithm is used to calculate the blocks. Features of the system:
- Requires minimum power when forming blocks.
- Low commission.
- High level of protection.
To date, the capitalization of the crypto currency is more than 57 million dollars. More than 24 million coins have been issued, of which the number is unlimited. It is for this reason that the RRS is subject to inflation, which is about 1% per year. Buying and storing Peercoins is meaningless except for resonant growth in value. During the past year, Peercoin’s price remains at $ 2.33.
Primecoin is a peer-to-peer payment system, and the monetary unit of ChRM is Bitkoin’s fork. Primecoin was created in 2013 by Sunny King, who is also the author of a number of electronic systems, but only HRM entered the top of the crypto currency. The cost of one Primecoin is about 25 cents. Despite the low cost, this currency has the characteristic features, namely:
- High speed of block generation.
- Efficiency of transactions.
- The system performs useful calculations using the sequence of numbers method developed by Alan Cunningham.
- No emission restrictions.
Of course, the list of all crypto-currencies can not be called complete without BlackCoin, since it is a product developed by the Russian programmer Pavel Vasin. BlackCoin is another payment network tool for mutual settlements and accumulation of money, the principle of functioning of which is almost the same as the Bitcoin crypto currency. The journal of financial transactions is open and decentralized.
The system has a number of advantages. For example, the transaction takes less than one minute in the system, which is 10 times higher than the figures for operations when transferring funds from Bitcoin wallets.
Given the fact that the capitalization of the Crypto-currency is directly related to the number of transactions made in the system, BlackCoin demonstrates high performance. In recent years, a huge number of payments have been made, thanks to which the “black coin” is rightfully included in the top ten most popular crypto-currencies.
It is worth noting that after creating an electronic wallet, the user should keep it open. Thus, you can receive a cumulative income of 1% of the amount that is on the account.
To date, BlackCoin’s payment capabilities can be used not only in real time, but also through Coinkite terminal networks, which are installed worldwide.
Having considered the rating of the world’s popular cryptocurrencies, we can say with confidence that almost all of them are clones of the famous Bitcoin, to the popularity of which they are very far away. The anonymity of users of these systems is the main reason that they are constantly being accused of fraud and money laundering.