Ever since the world of cryptocurrency emerged 8 years ago, the almighty Bitcoin has taken the center stage. Even the little baby born at the inception of this writing knows quite much about the prowess of the Bitcoin compared to other forms of cryptocurrencies. That sounds quite humorous though, but the truth is not far-fetched since the very existence of cryptocurrency eight years ago.
There is no doubt that the use of modern algorithms and block chain technology has enabled Cryptocurrency the ability to serve its market purpose. While this is far beyond its purchasing strength, little or no transaction hitch is being experienced while transacting with it. It is no fallacy if I call it the savior of the world’s economy and there is no doubt about that.
At this juncture, you will agree with me that an athlete cannot run alone in a race. It may interest you to know that there are other major Cryptocurrencies in the world other than Bitcoin trading. Although I will streamline them to the Top 5 list of Cryptocurrencies other than Bitcoin, but they are much more than that.
On my Top 5 list, I have;
Now, the Comparisons of the Top 5 list of Cryptocurrencies.
Let me be clear at this point that there are two major ways by which cryptocurrencies can be differentiated from one another; the current price and its market capitalization. You therefore need to watch out for these factors as we go into comparing our top 5 list.
Be reminded that all values are values at the time of writing this article
This is a P2P cryptocurrency and if you asked me what P2P means, it simply means peer to peer. That strikes something right?
With a market capitalization of $2,736,785,872 and at a current price of $51.40, this form of cryptocurrency is widely known for its zero cost and instant payments. It has no central authorities since it’s an open source software that is fully decentralized. What more could you expect since it was released under the MIT/X11 license if not its amassing features.
You should watch out for its improved storage efficiency, trade volume and its ability to allow miners control their finances solely. This guarantees it as a tested and proven form of cryptocurrency other than Bitcoin.
Let me wrap it up by informing you that its new miners are gifted 25 new Litecoins per block. You might want to have a rethink!
If you asked me about this form of cryptocurrency, the first thing I did tell you is that it builds unstoppable applications. It is also a decentralized platform which is designed to run exactly as programmed.
At a market capitalization of $27,860,000,000 and current price of $293.33, it flies its values around and represents the ownership of property. It is built almost like Bitcoin except the fact that it does not gift its miners as they have to work before they earn- Ether.
You should also know that there is no possibility of fraud or third party inference with Ethereum.
This is also a P2P cryptocurrency with a stated goal of a wide distribution model. Its programming language is Java and its software is employed in a commercial block chain known as Mijin.
Although it is the least on my top 5 list of cryptocurrencies at a market capitalization of $1,955,016,000 and current price of $0.217224, it has introduced new features to block chain technology. The features ranging from multi-signature accounts, encrypted messaging, proof of importance algorithm and Eigen trust ++ reputation systems are currently tested by financial institutions in Japan and all over the world.
This is similar to Bitcoin and also Litecoin but has a structure that requires no mining. It provides a smooth sailing experience to send money globally and connectivity across payments networks.
It has a current price of $0.229578 and market capitalization of $8,802,902,532 and yet, it has a vision to activate the internet of value. It is built on an advanced block chain technology which is responsible for the reduction in network latency. It is also secured, scalable and operates on a low operational and liquidity costs.
This is the largest P2P network having over 4,100 servers hosted around the world. It provides financial privacy, instant payments and offers a secured service.
An interesting fact to note about this is that it funds its own growth and its users are accountable to it. The system which was released in 2014 already has a market Capitalization of $2,324,549,729 and is at a current price of $305.74
Also, just like Litecoin rewards it miners, dash also reward its miners when they secure block chains. It is generally regarded as the Next-Gen P2P network.
What about Bitcoin?
It would be injustice on my part if I fail to write about the Bitcoin cryptocurrency which is already at the center stage of cryptocurrency. Like, people now Buy Bitcoins and Sell Bitcoins like water. Some even Exchange Gift Cards for Bitcoins. With an amassing market capitalization of $71,655,491,947 and at a current price of $4315.28, Bitcoin remains the lion in the jungle of cryptocurrency.
Now, take a deep breath, and think about this, why are you not onboard the train of cryptocurrency? You have got no time left as the Bitcoin cryptocurrency keeps growing with a potential to reach $5,000 per coin within the shortest period.
Besides that, there are lots of forms of cryptocurrency for you to pick from, a good example is Electroneum, go make some investments and thank me later.