The 5 Most Valuable Altcoins
No one could have predicted how valuable cryptocurrencies would become when the first cryptocurrency, bitcoin, made an appearance in the market nearly a decade ago in 2009. But since then, the world of digital currency has been making it big.
There are also coins that have failed and continue to fail during this cryptocurrency revolution, but with the number of altcoins on the market today, failure for at least some of them is clearly inevitable. As for the cream of the crop, however, those coins that are starting to finally give bitcoin a run for its money, those are another story. Here are the top five most valuable coins currently on the digital currency market.
1. Litecoin (LTC)
Litecoin was first developed in 2011 by Charlie Lee, MIT alumni and once Google engineer. Litecoin came out in the early stages of cryptocurrency, two years after bitcoin first hit the market in 2009. Litecoin uses an open source global payment network in order to make transactions. Litecoin is very similar to bitcoin, but it allows for a quicker processing time for transactions than the first and most valuable cryptocurrency. Each day that passes, more retailers are starting to accept Litecoin as a method of payment.
Ethereum was started in 2015. It is a platform that allows Smart Contracts unlike its competitors. These contracts ensure the safety of both merchants and consumers, and provide cryptocurrency with the features of accountability, control, and safety that it has been missing. In 2016, Ethereum was divided into two separate entities: Ethereum and Ethereum Classic. The market capitalization of Ethereum is of $41.4 billion, only trailing behind bitcoin.
Established in late 2016, fairly late in the cryptocurrency game, Zcash is yet another alternative coin that has become rather valuable. What Zcash brings to cryptocurrency is its special privacy features, like the ability to make transactions within a transparent mode, for example. Everything is meant to be recorded on blockchain’s platform, but when using Zcash, information like recipient and sender are kept anonymous. This altcoin is doing a lot for the advancements of security and safety within the field of cryptocurrency. If you are looking for the most anonymous, private way to make transactions, Zcash is definitely up your street.
Dash, like Zcash, offers a reasonable amount of privacy and anonymity as well. It was created in January 2014 by Evan Duffield, who has been trying to create a cryptocurrency that is as close to invisible as possible. This coin uses a decentralized mastercode network which allows payments to be processed in a way that is nearly untraceable. Originally called Darkcoin, it was renamed Dash after Digital Cash in March 2015. The name was the only thing that has changed since its first development. Its original Darksend and InstantX features have remained in operation.
Ripple allows for payments to be sent on an instant and cheap basis. It creates the ability for banks to accept transactions internationally with less hassle, less time, and less money. Ripple first entered the market in 2012. Since then, it has reached a remarkable market capitalization of $1.26 billion. Ripple is different from the other members of this list in that unlike bitcoins and altcoins, Ripple does not involve mining. This allows for Ripple to make just as much of a difference in the world of technology without such extensive involvement of computing power.