Alternatives to Bitcoin- 5 Alternatives to Stripe Bitcoin - Eaglesinvestors

Bitcoin is the Goliath of digital currencies with the highest level of mainstream recognition and the largest market cap of any digital cryptocurrency. There are many alternatives to bitcoin competing digital currencies and many claims to offer technical advantages over bitcoin.

Other digital currencies are taking a whole new angle on digital cryptocurrencies. They do so by trying not to offer an alternative to cash, but also to develop software development opportunities powered by the blockchain.

There are many other alternatives to bitcoin with similar and even more fabulous features to bitcoin, so let’s take a closer look at some leading alternatives to bitcoin.

Ripple as one of the alternatives to bitcoin

alternatives to bitcoinIt is an alternative to bitcoin built with the aim of offering reliable, instant and affordable international payments.

Ripple offers a global settlement network created to transform cross-border transactions. The Ripple’s global system, known as RippleNet, formed to connect different payment networks of banks, digital asset exchanges, payment providers and corporate institutions to deliver more efficient transactions.

The alternatives to bitcoin currency use XRP to facilitate transactions on RippleNet. Unlike bitcoin Ripple’s consensus mechanism does not support mining. But, it does permit payments to settle down in less than 5 seconds for a minimum transaction cost of 0.00001 XRP.

Monero

alternatives to bitcoinMonero is another digital crypto alternative to bitcoin. Therefore, if you value your privacy when transacting online, Monero designed precisely for you. Launched in April 2014, this peer-to-peer digital currency is designed to provide untraceable and anonymous transactions.

Also, through the use of different privacy-focused technologies, Monero permits holders to receive and send funds without the amount, destination or origin of a transaction visible to anyone else.

Ethereum

alternatives to bitcoinLaunched in 2015, Ethereum is another alternative to bitcoin and has been gaining a lot of attention as of late. It is a decentralized software platform that enables Distributed Applications (DApps) and smart contracts to run and built without any fraud, control, downtime or interference from a third party.

Furthermore, the public blockchain software seeks to support a lot more than just digital currency. In other words, developers can code software, and the power that software via the public blockchain. Investors can then sell their processing power and get paid with ether which is a digital currency somewhat similar to bitcoin in exchange.

Today, ethereum is the world’s second-largest alternative to bitcoin cryptocurrency by market capitalization and has a market cap north of 1 billion dollars.

Click here to learn more about Ethereum.

Litecoin

alternatives to bitcoinLitecoin is one of the older alternatives to bitcoin digital currencies out there, and it emerged in 2011. Just as bitcoin, there is no central authority, as new coins appear through solving algorithms. However, with time these algorithms can become more challenging to address.

Moreso, there are significant differences; however, Litecoin’s overall cap limit is at 84 million, compared to bitcoin’s 21 million. Also, litecoin’s algorithms seem much more comfortable to solve and can still resolve without special mining equipment.

Further, litecoin blocks are created every 2.5 minutes, compared to bitcoin’s 10 minutes, making it possible to support far more transactions.

Dash

alternatives to bitcoinLaunched in January 2014, dash experienced an increasing fan following in a short period. It is an alternative to bitcoin which focuses strictly on bitcoin software. Basically, developers needed to address some problems inherent in bitcoin like slow transaction processing times and thus chose to create a new currency, entitled dash.

It is also one of the best alternatives to bitcoin in the crypto arena.

Moreover, dash features advance privacy features. In other words, dash offers improved privacy. It also provides instant transactions, while bitcoin transactions can take several minutes.

Furthermore, dash uses a Master node to ensure that it is not unduly manipulated to double check the blockchain. In other words, Dash provides more anonymity as it functions on this decentralized master code network that makes transactions untraceable.

Also, the system is global, and like bitcoin, the dash is peer to peer with no centralized authority. Therefore, if given the technical advantages of this currency, it is indeed worth a close watch.

Conclusion

Bitcoin is not going away anytime soon, and it will most likely remain the chief global digital currency. However, competitors for the best alternative to bitcoin such as ethereum and dash offer a unique twist on digital currencies.

Conclusively, these alternatives to bitcoin digital currencies may someday surpass, or even catch up to, bitcoin.

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