The explosion in the price and importance of bitcoin that has led to the growth of dozens of other cryptocurrencies. Meanwhile, companies are also much betting that blockchain, which happens to be the underlying technology of bitcoin, could indeed bring about major changes in the economy, thus leading to a surge in existing blockchain projects.
The rise of the altcoins
Ethereum
Market capitalization: $95 billion
Of all the non-Bitcoin cryptocurrencies out there, ether (as the currency is called) or Ethereum (the name for the network) is definitely currency to reckon with. Companies are impressed by its smart contract features.
Ripple
Market capitalization: $47 billion
Ripple has been meant to facilitate global payments.
Bitcoin Cash
Market capitalization: $26.9 billion
Bitcoin’s has focused on the decentralized structure. On account of disagreement within the community in 2017 on scaling issues, the creation of Bitcoin Cash took place.
Cardano
Market capitalization: $14 billion
Similar to most of the cryptocurrencies, Ada, Cardano’s coin, can be much used to transfer funds digitally. Its developers indeed do have plans to build a platform that can run into financial applications and smart contracts
Litecoin
Market capitalization: $9.6 billion
Litecoin tries to settle transactions in two-and-a-half minutes, as compared to 10 minutes for Bitcoin.
Litecoin can indeed be purchased as well as sold on mainstream exchanges like Coinbase.
NEM
Market capitalization: $8.4 billion
NEM is a blockchain project that is looking to help companies as well as industries thus improves such things like payments and logistics.
Stellar
Market capitalization: $8,1 billion
Stellar keeps a watch on people, banks and payment networks move money.
NEO
Market capitalization: $7.7 billion
NEO involves the creation of the framework for the “smart economy” whereby digital assets are easily moved, and digital identity is safe as well as smart contracts ensures what everything works smoothly.
IOTA
Market capitalization: $6.6 billion
IOTA, which means Internet of Things Application, is associated with the future of connected devices. The number of devices gets connected to the Internet as it grows and linking of iPhones to smart cars takes place.
Dash
Market capitalization: $5.9 billion
Dash is one the few altcoins meant to be used by people for purchasing goods and services.
Monero
Market capitalization: $4.9 billion
Bitcoin favors anonymity whereas, Monero does aim to be totally opaque.
TRON
Market capitalization: $4.4 billion
TRON is on the lookout for internet giants such as Facebook as well as YouTube to capture the creative market. It is on the lookout to “decentralize” the web so that musicians, artists and others can also share their creations with the rest of the world without having to rely on a “centralized services.”
