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The Bitcoin is the pioneer of the cryptocurrencies, it is also the most famous and with bigger market value presently. Its creation was the booster to decentralized financial trades with safety zero bureaucracy. The popularization of Bitcoin was way more than a profitable and practical benefit to amateur and experienced investors. It has become the path to the development of many other cryptocurrencies around the world.
Nowadays there are over 2100 new cryptoassets on the market. Those new cryptographed coins are called “altcoins” and are gaining some huge space on the market and attracting a considerable public to themselves.
Keep reading and find out more about some altcoins that are the highlights of the market.
Represented for the abbreviation ETH, this is the second most valuable cryptoasset on the market. The Ethereum is a decentralized platform created and has a token used for rewarding developers that use this platform on their projects. The platform also focuses on smart contracts, which are actions done automatically when determinated clauses or actions are fulfilled. The Ethereum, besides having another focus on its core when it was created, ended up as a digital asset traded globally in great proportions.
Besides being a cryptocurrency, the Ripple (XRP) allows financial institutions to do international payments at low costs and almost instantaneously. The Ripple can’t be generated by mining, but it’s created through the selling of XRP and agreements with businesses interested in investing in this coin. Another Ripple’s highlight is that this is a distributed payment that allows the trade of other cryptocurrencies along with XRP.
Identified by the abbreviation BCH, this cryptocurrency is the result of a fork at Bitcoin’s network. Even though they have the same name, the BCH uses different algorithms and also has bigger blocks for faster trades. It is considered a more scalable version of Bitcoin, but preserve the similarity of only allowing to generate the maximum of 21 millions of BCH.
Created by former Google employee Charlie Lee, the cryptocurrency Litecoin (LTC for short) presents the same functions as Bitcoin, but has a bigger capacity to generate blocks. So the validation of the trades is way faster and it’s an ideal cryptocurrency for daily trades.
Shortened as ADA, besides being a cryptocurrency, the Cardano is also a platform for smart contracts. The Cardano is the first project based on the concept of scientific methodology and counts with academic pay-per-view and formal verification of software, having as a main goal to be one of the most user friendly and scalable platforms. Is also a goal for Cardano to be an alternative method of payment for people who lives in countries with limited access or no access to banks.
Created by Da Hongfei e Erik Zhang in 2014, the NEO (whose name was inspired on the famous Matrix character) is popularly known as Chinese Ethereum. It works in a similar way as the Ethereum does, working with a smart contracts platform focused on B2B businesses. NEO also works with digital identities and aims to construct a smart economy.
Known by the abbreviation EOS, this is a blockchain platform that allows the development of decentralized applications (dApps). It is a direct competitor to Ethereum, because besides being a space for developers work on their projects, it also looks for fixing Ethereum’s problems. One massive difference between EOS and Ethereum is EOS’ DPOS system. This system gives more flexibility to the platform, once it acts directly with block producers, who can vote on changings to be done in an individual code or in EOS’ system in general. This way, system bugs can be democratically and safely fixed.
The altcoins, besides being profitable in the economic context, also embraces other categories such as smart contracts and digital identities. They are one of the most solid representations of the data driven economy, aside from being a more democratic and safe way to solve daily problems with more practicality and less bureaucracy.
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