Bitcoin is the most popular cryptocurrency in today’s time. When people share their opinions about cryptocurrencies, bitcoin is the only word that you may have heard. Bitcoin is a digital currency that has gained prominence and has made its way into the mainstream as people are accepting it enthusiastically. If you have tried to understand bitcoin, it may have seemed not very easy to understand because there are many aspects of it. If you wish to learn about bitcoin, download techtimes.com.
Despite bitcoin, there are many more popular cryptocurrencies that exist in the cryptocurrency world, and you must gain knowledge of them. Some of these cryptocurrencies are based on blockchain technology that we will learn in this article.
Ethereum Classic
Ethereum Classic is known as the second-largest digital currency after bitcoin. In today’s time after bitcoin, Ethereum Classic is the only digital coins that are profitable in mining. There are no switching costs, which has attracted a large number of users and hash power. The Ethereum Foundation has set up a POS model and is planning to change it to provide more advantages to miners loyal and support Ethereum Classic.
With the POS model, miners will get more rewards and benefits from mining Ethereum. The unique thing about Ethereum that is the same as bitcoin is that there is no interference of third-parties, which means no censorship and no frauds. It is a multi-platform that allows users to trade multiple cryptocurrencies.
Dash
One of the most known alternatives of bitcoin is Dash. It is a platform that allows users to manage digital cash and allows them to store, send and receive digital money easily. Dash offers some great features to its users, including advanced security and encryption, allowing users to make easy and private payments, charging low transaction fees compared to bitcoin and some of the digital wallets. Another amazing feature of Dash is InstantX which enables instant and easy payments. It is also a decentralized currency like bitcoin that doesn’t involve any third parties to approve or authenticate a transaction.
Safecoin
Another popular digital token that was introduced by the SAFE network is Safecoin. It is developed to compensate the users for using it and contributing to the Safecoin network. Like bitcoin, there is a finite supply of Safecoin as there exist only 4.3 billion bitcoins that are all in circulation. Each safecoin has its own identity, and no two coins are the same. Safecoins users can easily exchange digital coins by buying coins from any services that offer a SAFE network. The best thing about Safecoin is the availability of data and built-in redundancy, and also it self-encrypts data to provide enhanced security to users.
Litecoin
A great alternative to bitcoin introduced in 2011 following the footsteps of bitcoin is known as Litecoin. Litecoins are also mined, and mining Litecoin is cheaper than mining Bitcoin. Litecoin is one of the most preferred cryptocurrencies to invest in because it offers some excellent features that are cheap and easy to mine, is more democratic than other cryptocurrencies. If we talk about security, Litecoin offers private and secure wallet encryption, and the transactions are less expensive than bitcoin. It is a cryptocurrency that is specially built for consumer-grade processors.
Steem
Steem is a term that is inspired or derived from work ‘esteem’. Steem is a social media currency that is based on rewards. It is a cryptocurrency based on blockchain technology and necessitates users to reward other users for making contributions. The entire process of rewarding is more like voting on trends or a post. Steem offers some amazing features that are mining Steem is quite simple and straightforward; it provides rewards within 24 hours after the submission of votes.
Peercoin
Another digital currency based on the computer code of bitcoin but has its different method of verification of mined digital tokens is known as Peercoin. Along with Proof-of-work, Peercoin also put into practice another system that is known as Proof-of-stake. Peercoin is an inflationary currency that has no limitation on coins. It is one of the most stable yet secure digital currencies that is also the first coin that practices proof-of-stake.
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