Bitcoin competitors

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Bitcoin competitors

Ethereum is an analogy of Microsoft or Amazon in the real world. Ethereum is rapidly gaining popularity and literally “steps on the heels” of bitcoin. This cryptocurrency definitely has great prospects. Unlike Bitcoin, ether is not only a means of storage or exchange. It has some advantages. The main plus is the ability to create smart contracts.

Currently, this platform is very popular worldwide in creating an economy using blockchain technology and a wide variety of ICOs. At the same time, Ethereum also took over the weaknesses of bitcoin. Updating, of course, happens 60 times faster (every 10 seconds), but problems with high power consumption and resource consumption for storage and scaling remain. Ether is the main competitor of bitcoin. Apparently, this balance of power will continue in the near future.

 Ripple is the new VISA from the real world. The team members of this project made an attempt to create a new global payment system with the possibility of making multi-currency payments and transfers.

Banking institutions are already working with this cryptocurrency, which is a big advantage. Ether is not a decentralized cryptocurrency, the number of coins does not increase and their mining is not performed. Ripple has a huge superiority over bitcoin and ether in speed.

 Litecoin is an absolute analogue of bitcoin. It is faster in many respects, but historically turned out to be in second place. It should be purchased as a means of diversification investment in bitcoin. At the same time, it does not contain an innovative component.

Ethereum Classic has similarities with Alibaba from the modern world (do not confuse with Amazon). Alibaba is the largest online store that has multi-billion dollar turnover. Of course, it is not as popular and cool as Amazon. Ethereum Classic in the long term can bypass the cost of regular broadcasting, to which everyone has long been used to. But there are also features. ETC was the result of the Ethereum hard fork that happened last fall. In the crypto community, it still does not occupy a stable place in the rating of trust. In this regard, the main new and promising projects are based on the usual ETH platform.

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