Speaking of Bitcoin, nobody even heard of it at the beginning of 2016 except for individuals highly interested in the financial market. These days, it is hard to find a person among all ages and countries who have never heard of the most valuable cryptocurrency in the world.
How’s The Currency Been Faring Lately?
For the past few weeks, the currency has been doing exceptionally well, and yesterday it hit its historical maximum of 9500$ for one coin. Even though it’s already overpriced and unstable, gambling investors keep buying, pushing the price up but forgetting about all possible risks.
Not all people are aware, that in fact, among top 10 best bitcoin alternatives it is one of the most vulnerable and weak. Below you’ll find some of the best bitcoin alternative.
The first possible replacement of Bitcoin in today’s market is, undoubtedly, Ethereum, and it’s by far considered as one of the best alternatives to BTC for good reasons.
In the beginning, Ethereum was designed as a decentralized platform for development. Even now, it’s blockchain can run applications. It can be a Facebook app, or Twitter, or even an app created to manage applied science calculations.
From the beginning of the year, it increased 5374% and already gained the trust of its investors. Such reputable enterprises as JPMorgan, Microsoft, and Intel devoted considerable amounts to Ethereum.
It will serve better than bitcoin to:
– Modern IT-companies
– Progressive Developers
– Innovational Startups
– Investors and businessmen
To summarize, Ethereum is an infrastructure or decentralized network while bitcoin is simply a currency.
It is a young crypto-project designed on the blockchain framework in Japan and launched on 31st of March. NEM uses a unique POI (Proof-of-importance) algorithm making it more than ten times faster and productive than bitcoin.
The first fundamental difference is that the technology platform is multifunctional and can be used for data storage and information exchange making it possible to use NEM in banking, medicine or jurisprudence.
Second, a volume of circulating supply (8,999,999,999 XEM) is stable and unchangeable. It helps to prevent course manipulations and unpredictable rises and falls. This is a crucial difference from Bitcoin, where supply increases every day and makes it so volatile.
At the moment, banks of Japan are integrating NEM into its banking system. And as soon as it’s done, XEM will rise significantly.
Feathercoin is a digital currency that utilizes the peer-to-peer technology. It is also independent of any bank or financial institution. The feathercoins are provided by the network and have an upgrade from the normal crypto currency we are used to.
It has several features, and it is based on NeoScrypt. Unlike other digital currency, it uses a neoscrypt algorithm and a minute is the exact block target. Every block is rewarded with 80 coins. The company has ensured that the payments are made despite the borders and anyone with a computer can process them as long as the feathercoins are issued by the network.
It was created at the beginning of 2014 as the base of bitcoin source code. Dash team set their goal to enhance the Bitcoin code implementing only the best of its features. The key part of this project was to provide the highest anonymity of the payments. For the past few years, DASH made it through revolutionary changes significantly upgrading the principles of its functioning.
Here’s a list of key goals that have already been achieved:
– Independence of the network. Separate services, developers, users, attacks can’t affect the proper functioning of the project and anonymity.
– New and reliable cryptography mechanics are constantly maintaining high-anonymity.
– A private decentralized technological platform which consists of more than 2200 master nods protecting the network from possible attacks and exploitations.
– InstantX technology makes it possible to confirm payments in 5 seconds and instantly deliver them to an account of the receiver. (Note: In Bitcoin, you’ll have to wait for three confirmations and sometimes it may take even 24 hours.)
All described features show unique possibilities of DASH and make it more than a decent alternative to Bitcoin.
All of the cryptocurrencies mentioned above excel Bitcoin in more ways than one. Take time to think of your preferences, and pick one that most suits your needs.