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Monday, November 29, 2021

Top 10 Alternative Coins For Ethereum

Top 10 Alternative Coins for Litecoin The good thing about having so many different cryptocurrencies on the market is that you can always pick and choose the best of them to put your money into. While Litecoin is a great peer-to-peer cryptocurrency, it may be that there are other cryptocurrencies worth considering. In this content, we tell you the top ten alternative coins for Litecoin. We tell you their histories, their basic functionalities, and how they match up against Litecoin. Before we dive into the content, please make sure to like, subscribe and turn on post notifications.

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10. Stellar First on this list is Stellar, which was launched six years ago in 2014. It is an open-source, decentralized protocol for low-cost transfers between fiat currency and digital currency. Similar to Polkadot, which is another cryptocurrency, the idea here is to also have the ability to interoperate between various currencies. With a supply limit of 50 billion, Stellar currently trades at 0.33 of a dollar.

9. Polkadot What’s great about Polkadot is that it is intended to provide interoperability between all the various cryptocurrencies. If ever it catches steam, such functionality would be incredible. What Polkadot does is that it creates parallel blockchains functions between all the various cryptocurrencies.

These allow operations to translate from one to the other. Co-founded by Gavin Wood, who also helped create Ethereum, it currently trades at 23 dollars a unit. This interoperability is a huge advantage Polkadot has over Litecoin.

8. Monero Monero is a private, untraceable cryptocurrency that was released in 2014. Despite its focus on privacy, the codebase is open source. To protect the identity of its users, Monero uses an obfuscated ledger system. This way, no outside observer can tell the source, amount or destination of transactions. Monero currently trades at 252 dollars. For individuals who can benefit from its privacy, it’s a good enough digital currency to try out. Unfortunately, Litecoin does not offer the same degree of privacy.

7. Cardano Launched in 2017 by Charles Hoskinson, Cardano is a public blockchain platform that can facilitate peer-to-peer transactions using its internal cryptocurrency, Ada.

The team behind Cardano used extensive research to create the platform to have the absolute best functionality as a digital asset. Cardano has been dubbed the “Ethereum-killer”, giving its rigorous infrastructure. Ada currently trades at about 1.4 dollars, which is way cheaper than Litecoin.

6. Chainlink Developed by Sergey Nazarov, Ari Juels and Steve Ellis, Chainlink is a decentralized oracle network that bridges the gap between smart contracts and data outside of it. Blockchain functions themselves cannot connect to external applications in a trusted manner. However, Chainlink’s decentralized oracles allow smart contracts to communicate with the outside data to execute contracts based on that data. For example, smart contracts could be used to monitor water supplies for pollution or illegal siphoning going on in certain cities.

Additionally, sensors would be set up in key places along the pipeline and an oracle was made to track this data and feed it directly into a smart contract. The contract could then be set up to execute fines, release flood warnings to cities, or invoice companies using too much of a city’s water based on incoming data from the oracle. This would be an extraordinary and revolutionary application of blockchain tech in the “real world.” Chainlink currently trades at around 23 dollars.

5. Neo Designed in 2014 by Da HongFei and Erik Zhang, Neo was formerly known as Antshares. Since rebranding in 2017, this altcoin has persevered in the crypto marketplaces and trading exchanges.

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Like Litecoin, Neo has a limited supply, capped at 100 million coins. Currently, one Neo lies just beneath 60 dollars. Not only is neo a cryptocurrency, but it is also a platform intended to facilitate the decentralized exchange of digital assets. Neo’s functions are similar to Ethereum. And so, if for some strange reason Ethereum doesn’t suit your needs as a Litecoin alternative, you could try Neo.

4. Dogecoin Dogecoin has a rather fascinating history. Developed by genius programmers Billy Markus and Jackson Palmer, it started as a joke, born out of their cynicism for cryptocurrency in general. In recent years, spurred on by communities such as Reddit and Twitter, dogecoin has risen in popularity and value. In fact, Tesla and Space-X CEO and co-founder Elon Musk has personally championed dogecoin ever since dumping bitcoin. Unlike Litecoin, Dogecoin is far less environmentally taxing to mine, although it isn’t necessarily the most sustainable cryptocurrency. Presently, there are about 130 billion doge coins in circulation, trading at 0.388 dollars.

3. Ripple or XRP Originally authored by Arthur Britto, David Schwartz, Ryan Fugge in 2012, Ripple is a real-time payment protocol and currency exchange network built upon a distributed open-source protocol that supports tokens representing traditional currencies, cryptocurrencies, and other commodities or assets.

This means that ripple is more of a marketplace than a regular cryptocurrency.

Regardless, real-world assets can be converted to crypto tokens within the platform. Currently, those XRP tokens trade at about 0.88 of a dollar. For those wary about Litecoin, Ripple might prove a safer alternative to trading in the digital world. Even though the company has had a brush with the law before, their crypto tokens are now recognized as legitimate altcoins.

2. Ethereum After bitcoin, Ethereum is the second-largest cryptocurrency by market cap. It was initially released in July 2015 by Vitalik Buterin and Gavin Wood, following a crowdfunding campaign. Although this isn’t unique to Ethereum, one of the biggest drivers of this cryptocurrency is decentralization.

Ethereum also has a host of other applications in the field of decentralized finance. In addition, unlike Litecoin, Ethereum has no supply cap, although it does require some level of mining. Though Ethereum can be as environmentally taxing to mine as other cryptocurrencies like bitcoin, there are plans in place to shift the framework onto a much more sustainable infrastructure. Currently, the price of Ethereum hovers just beneath 3,000 dollars.

1. Bitcoin Even though all other Alt Coins rose to prominence as viable alternatives to bitcoin, it only makes sense that bitcoin could also be an alternative to its replacements like Litecoin. Although bitcoin hasn’t been trading so well lately, it still has a lot going on for it. Bitcoin remains the most popular, most traded and most expensive cryptocurrency. It leads the charge ahead of other coins by a considerable margin. With the price for bitcoin the lowest that it has been in a while, now might actually be an excellent time to buy in.

The price hovers around 40,000 dollars at the time of this content. As we come to the end of this content, we hope you have learned about important alternate cryptocurrencies to Litecoin. As great as Litecoin is, and as much potential as it has, it’s always worth exploring alternatives.

Read More: How To Buy Safemoon and Price Prediction

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