Litecoin (LTC) was founded in 2011 as one of the first alternatives to bitcoin. Since the start of the year, Ripple has rallied from $0.0062 to over $0.35 and now has a market capitalization of over $16 billion. Since Ripple is the currency used in Ripple’s payment network, it is no surprise that its value has increased substantially over the course of the year as Ripple has already managed to attract over 100 financial institutions to its payments network and is well-positioned to become one of the financial industry’s leading blockchain-based payment systems providers in the future. The digital currency Ripple is used to pay for Ripple Network transaction fees and needs to be kept as reserves in any wallet used within the network. Ripple (XRP) is the native digital currency of the RippleNet payment network, which allows financial institutions to make ultra-fast low cost domestic and international payments. Instead, Ether is the currency that powers the Ethereum blockchain and is meant to be used by businesses and developers who are building applications on the Ethereum network as the network’s currency.ĭue to investors recognizing the potential of smart contracts and decentralized applications, the price of Ether has rallied from less than one dollar during its ICO in 2014 to currently trade at over $290. It is not meant to be used to purchase goods and services online as is the case with bitcoin and Litecoin, for example, nor is it meant for international remittances. The Ethereum network is an open-source distributed ledger platform that enables users to create smart contracts and decentralized applications (Dapps).Įther, however, is not a digital currency as such. Ether is the native digital currency of the Ethereum network. In this article, you will discover the ten leadi ng altcoins and find out why they are close competitors for bitcoin as well as why they may turn into potentially highly lucrative investments.Įther (ETH) is the second-largest cryptocurrency after bitcoin and has a market capitalization of over $30 billion.
While bitcoin has managed to maintain its leadership position in the digital currency space, there are several bitcoin alternatives, known as altcoins, that are moving in on bitcoin in an attempt to take its place.
At the time of writing, one bitcoin is worth over $11,000 and its market capitalization is over $200 billion. Bitcoin is the leading digital currency measured by market capitalization as well as value.
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