Launched in 2009, Bitcoin became the first publicly traded cryptocurrency and marked the beginning of a new era in the development of the global financial system. Bitcoin constitutes approximately 45% of the total cryptocurrency market capitalization and is currently the most expensive cryptocurrency. The number of bitcoins is limited to 21 million and it’s the most popular cryptocurrency among all. The creator of Bitcoin is considered to be Satoshi Nakamoto, but no one can confirm he exists.
Formerly known as Darkcoin and XCoin, Dash was launched three years ago, on 18 January 2014. It offers all capabilities of bitcoin but also spices them up with instant transactions (InstantSend), private transactions (PrivateSend) and decentralized governance (DGBB). When using Dash, it is possible to send money almost instantly and remain completely anonymous with the help of a Tor-like technology.
Dash utilizes a two-tier system. Miners, who write transaction to the blockchain, belong to the first tier. Masternodes that enable the advanced features (Dash-specific add-ons), belong to the second tier. Dash currently owns 2% of the total Market cap.
Ethereum is the second most popular cryptocurrency after bitcoin, which is a great success considering the pioneering status of BTC. It is worth more than 70 Billion dollars which is 15% of the total Market cap.
The distinctive feature of Ethereum is the smart contract functionality. It helps to provide additional security and to reduce transaction costs. Stored in the Ethereum blockchain, smart contracts are the exchange mechanisms that can carry out the direct transaction of value between untrusted agents. This breakthrough technology is one of the reasons behind Ethereum’s success.
IOTA is a relatively new cryptocurrency, which is advertised as a new generation blockchain. It is optimized for the Internet-of-Things. Unlike heavy and complex blockchains, IOTA was developed with the intention of making it as lightweight as possible.
Instead of using blockchains, IOTA relies on tangles. The latter are based on the Directed Acyclic Graph (DAG) technology that does not differentiate between regular users and validators that approve the transactions. Therefore, to commit a transaction himself the user first has to confirm two other transactions. That’s the foundation of a decentralized IOTA system.
Litecoin is one of the alternative cryptocurrencies, created after the initial triumph of bitcoin. You can think of Litecoin as bitcoin on steroids. The main difference between two cryptocurrencies is that Litecoin can confirm transactions much faster. Litecoin is not controlled by any central authority, has almost zero payment cost and carries out transactions at four times the speed of bitcoin.
Ripple is a company, providing global financial solutions. It was a logical step for them to launch their own cryptocurrency. According to its creators, Ripple is the world’s fastest and most scalable digital asset. It can boast almost immediate transactions, ability to process 1 000 deals per second (66 times more than Ethereum) and unmatched stability. Ripple is currently the world’s third largest cryptocurrency by market cap.
Bitcoin cash was forked from Bitcoin on block 478558.
Bitcoin Cash brings sound money to the world, trying to fulfill the original promise of Bitcoin as “Peer-to-Peer Electronic Cash”. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.
Bitcoin Cash is growing rapidly and currently owns a market share of 9%.