The Six Most Important Cryptocurrencies Other Than Bitcoin 2020 Investopedia

The six most important cryptocurrencies other than bitcoin 2020 investopedia

Via Investopedia

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies​.

My 2020 Bitcoin Price Prediction 🚀

The currencies inspired by Bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of Bitcoin. While some of these currencies are easier to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention.

Since Bitcoin prices are soaring new highs, we look at six cryptocurrencies, picked from over 700 (in no specific order) that could be worth your while.

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer.

The six most important cryptocurrencies other than bitcoin 2020 investopedia

Litecoin is based on an open source global payment network that is not controlled by any central authority and uses “scrypt” as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation.

The six most important cryptocurrencies other than bitcoin 2020 investopedia

Other than developers, there are a growing number of merchants who accept Litecoin.

Read More / Source: Investopedia