Bitcoin is an open-source, peer-to-peer, digital decentralized cryptocurrency. Powered by the Blockchain technology, its defining characteristic is its decentralization, i.e. the lack of central governing authority, such as a central bank or a ministry of finance. Bitcoin’s issuance and circulation are ensured by regular users via a process known as “Bitcoin mining”. Bitcoin can be sent anywhere, anytime, (almost) for free, and with little regard for national borders or government/bank-imposed restrictions.
Market Cap: 175.91 Billion USD
Altcoins, meaning “alternative coins”, is another term for cryptocurrencies (other than Bitcoin). Since Bitcoin’s release in 2009, many have noticed its crucial advantages over government money, while also giving recognition to the fact that some of its aspects can be improved upon. That has lead to the appearance of hundreds of different altcoins, which are all ultimately based on the same technology of the Blockchain but are designed differently in some ways, in order to achieve different goals.
Ethereum is the major altcoin in the market as shown below:
Ethereum is a decentralized platform for applications. It is powered by Ether – a cryptocurrency, which is in turn powered by the Blockchain technology. Applications are built with the use of smart contracts – computer algorithms which execute themselves, based on incoming data from the network. The self-fulfilling nature of such applications allows them to run without reliability issues associated with human operators.
Market Cap: 92.31 million USD
The following altcoins have reasonable market cap and considered to evaluate for further investment opportunities:
Bitcoin Cash (BCH)
The origin of Litcoin:
While the identity of the Bitcoin creator Satoshi Nakamoto is shrouded in mystery, Litecoin’s creator Charlie Lee is very active on social media and his blog. Charlie Lee is an ex-Google employee who had the vision to create a lighter version of Bitcoin.
While Bitcoin was seen as “gold” and a store of value for long-term purposes, Litecoin was seen as the “silver” and a means of a transaction for cheaper and everyday purposes. So, on October 7 2011, litecoin was released via an open-source client on GitHub. The Litecoin Network went live on October 13 2011. It is basically a fork of the Bitcoin Core client.
One of the major reasons why Litecoin’s value increased recently was its induction in Coinbase. As long as you can use them in your country it really is the best and fastest way to buy Litecoins