Cryptocurrencies

12 Encrypted digital currencies alternative to Bitcoin

12 Encrypted digital currencies alternative to Bitcoin price of the electronic currency “Bitcoin” has recently increased, after it had been fluctuating up and down, and exceeded the $1,100 barrier on the fifth of this month. However, the number of alternative cryptocurrencies “Altcoin”

12 Encrypted Digital Currencies Alternative To Bitcoin
12 Encrypted Digital Currencies Alternative To Bitcoin

The world of virtual currencies is increasing, as these days there are about 20 types of cryptocurrencies that are sold for more than one dollar, according to sh-hakam.com, and there are a greater number of them in the stock market with low prices.

Below is a presentation of 12 alternative cryptocurrencies to Bitcoin. Their prices and market value have been presented according to the data available on the aforementioned website. Not all of these currencies mentioned are considered among the top ten currencies, according to either measure.

** Cryptocurrencies

* Litecoin. Year of construction: 2011, market value: $353.3 million, price: $13.53. Litecoin presented itself as “the silver currency compared to the gold currency of Bitcoin.” Transactions made with Litecoin are confirmed faster than those made with Bitcoin. The way they are extracted negates some of their advantages for extractors who have specialized computer hardware.

* Peercoin. Year of construction: 2012, market value: $71.3 million, price: $3.37. Bitcoin markets itself as consuming less energy and being more environmentally sustainable than other currencies on the market. The currency is also designed to have an inflation rate of 1 percent.

* Primecoin. Year of construction: 2013. Market value: $7.1 million, price: $1.55. With this coin, miners have to use their computers to find “Cunningham strings,” which are sequences of prime numbers. The “primecoin” currency is distinguished by extracting these initial numbers in the context of “providing potential scientific value in addition to coinage and network security.”

• Namecoin Year of creation: 2011, market value: $26.9 million, price: $3.30. Nymcoin is designed to explore the record-keeping side of cryptocurrency technology.
This currency acts as a decentralized domain name peering system for DotBit domains. People can buy dotBit domains using Nemcoin, and the currency then tracks the transaction on the blockchain, or public ledger.
* Ripple. Year of construction: 2013 Market value: $1.4 million.

Price: $0.014. Ripple has attracted millions of venture capital, including Google Ventures. Unlike Bitcoin, Ripple is not mined, as the currency is formed as a payment network, not only for Ripple, but also for other currencies, and as a self-functioning system for currency exchange.

* “Sexcoin”. Year of creation: 2013, market value: $450,700, price: $0.0073. According to the website for this currency, the aim of the creation is to provide a means for providers and consumers of “adult content” to carry out fast, stable, secure transactions that protect privacy.

**Safe currency* Quark. Year of creation: 2013, market value: $12 million, price: $0.05. Quark uses nine rounds of encryption to ensure the security and confidentiality of transactions that are used to complete quark. Because the currency is mined using regular computer processing power, it provides “the fairest distribution model available.”

* Freicoin. Year of creation: 2012, market value: $1.4 million, price: $0.036. Frecoin imposes a “penalty fee” of about 5 percent per year on the money users hold, meaning users who hoard their money rather than spend it will see it lose value over time.

* “Mastercoin” Year of creation: 2013, market value: $29.5 million, price: $52.46. This currency was created to address some of the security and price issues of Bitcoin. This currency has characteristics and advantages that make it a leader in the block chain. The importance of the Mastercoin lies more in the technology that produces it than in its composition as a currency.

* “Nxt”. Year of creation: 2013, market value: $44.8 million, price: $0.045. NeXT, like Ripple, was not created on the basis of Bitcoin code, but rather by using its own code written in Java.
* Auroracoin. Year of construction: 2014, market value: $236.6 million, price: $22.34. The “Auroracoin” currency was created after it occurred to an alleged pioneering entrepreneur of Icelandic origin,

The idea of ​​distributing cryptocurrency to everyone in his country. The Urwacoin currency is based on Litecoin, with 50 percent of it mined beforehand. The pre-mined coins will be distributed to all residents of Iceland starting at midnight on March 25.

* Dogecoin. Year of creation: 2013, market value: $59.3 million, price: $0.0011. This encrypted digital currency began as a joke by combining two Internet-related phenomena: “Bitcoin” and the image of “Doggie,” a hound.

This currency is one of the most talked about currencies after Bitcoin, and perhaps this is the reason for its increasing market value. There is no harm in having its symbol and mascot be the beloved Shiba Inu puppy.

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