Different types of cryptocurrency

Types of Cryptocurrencies explained.

As of 27 November 2017 there are over 1324 different types of Cryptocurrencies.

And they will never stop! A new type of Cryptocurrency can be created at anytime by market capitalization.

Currently the much known and popular Cryptocurrency is BITCOIN.

Let's have a quick look at some of the most important and popular Cryptocurrencies.

1.Litecoin (LTC)

Litecoin was created by an MIT graduate Charlie Lee and was launched  way back in 2011 alongside with Bitcoin and is also known as 'Silver Bitcoin'.

Currently Litecoin is controlled by an authority and it uses "scrypt" as a proof of work and can be decoded by the help of  high speed consumer grade CPUs

Litecoins market is also expanding and there are many merchants who accept Litecoin.

2.Ethereum (ETH)

Ethereum was launched in 2015 and it has no controlling agency or authority, It is also known as Decentralized software platform.

The Ethereum software enables Smart contracts and distributed application (DApps), the app can run without any downtime , fraud,control or interference from any other Third party.

Ethereum has a market capitalization of $41 billion it is second after Bitcoin.

3. Zcash (ZEC)

Zcash was launched in late 2016 and doesn't have any controlling authority. 

Zcash is way secure when compared to Bitcoin because it offers privacy and selective transparency of transactions,all the details of Sender, recipient and amount are encrypted and kept private.

Zcash uses it's own cryptographic technique called Zk-SNARK developed by it's team 

4. Dash 

Dash was launched in 2014 and developed by Evan Duffield and can be mined using a CPU or GPU.

Dash was originally known as 'Darkcoin' but in March 2015 it was renamed as DASH  which stands for Digital cash.

Dash works on a Decentralized mastercode network and some of it's features are Darksend, InstantX.

5. Ripple (XRP)

Ripple was launched in 2012 it is a real time global settlement network that offers instant and low cost international payments. It also has end-to-end  transparency.

The thing that makes Ripple different from Bitcoin is that it doesn't require any mining and reduces computing power.

Ripple currency has a market capitalization of $ 1.20 billion.

Any how Bitcoin is way more ahead then these Cryptocurrencies in terms of market capitalization and popularity.

But once Bitcoins will be over and cannot be mined anymore, people will look towards other Cryptocurrencies.

But nevertheless the popularity of Cryptocurrencies has increased just Because of BITCOIN.

                                       -Srikanth Mudiraj.