Bitcoin is referred to as the mother of all cryptocurrencies because it has spawned all other cryptocurrencies. It would be a big sin not to mention Bitcoin when it comes to cryptocurrencies. However, in this blog post, we are going to cover the most powerful cryptocurrencies other than Bitcoin.
Ethereum is more known as a decentralized software platform than a cryptocurrency. More and more developers are using Ethereum to develop decentralized apps without any fraud, downtime, or third-party interference. The primary goal behind developing Ethereum is to create decentralized financial products that people can freely use and access, regardless of ethnicity, nationality, or faith.
Launched in 2011, Litecoin was among the first digital currencies to follow Bitcoin’s footsteps and has also been referred to as ‘’silver to bitcoin’s gold.’’ Charlie Lee, a former Google engineer, and an MIT graduate is the brain behind Litecoin. Although Litecoin is much similar to Bitcoin, it has faster block generation, meaning it offers faster confirmation and transaction processing.
Developed with a research-based approach by a team of mathematicians, engineers, and crypto experts, Cardano is an ouroboros proof of stake digital currency cofounded by Charles Hoskinson, who is included in the initial founders of Ethereum. After leaving Ethereum over some issues, he created Cardano.
Bitcoin Cash (BCH)
Bitcoin Cash has a significant place in altcoins’ history, as it is one of the most successful and earliest hard forks of Bitcoin. BCH started its life in 2017. The debate that resulted in the creation of Bitcoin Cash had to do with the scalability issue; Bitcoin has a limit on block size: 1MB. Bitcoin Cash increases the limit on the size of blocks from one megabyte to eight megabytes.