Bitcoin (BTC) is the most trusted cryptocurrency by institutional investors as well as individual investors. However, there are also altcoin projects that have recently added different perspectives to the market with new technologies. In this article, let’s list the top cryptocurrencies other than Bitcoin from analyst Jim O Brien’s list.
Top 5 altcoins to invest alongside Bitcoin
Ethereum (ETH)
Ethereum is a Blockchain-based network just like Bitcoin. It is decentralized and open source. This means that no government or bank can hack into the network to control it. However, along with a great similarity, it also has some differences with Bitcoin. The Ethereum network is separated from Bitcoin by three components…
- Ethereum Virtual Machine (EVM): This is the decentralized network here and this is the main application we understand when we call it Ethereum. Because it is built on blockchain technology, it provides a distributed ledger system where transaction data is stored in blocks and the network spreads in this way. The network is set to run automatically when a certain input is triggered. This is called the smart contract facility it provides.
- ETH: ETH is the native cryptocurrency on the Ethereum network that runs through the EVM.
- Gas: The distributed Ethereum network needs some energy to run or run like a transaction. Here, the amount of work is gas and its energy is ETH.is working. Ether is basically a transformed version of energy. So, it has real world value.
By the way, cryptocoin.com As we reported, Ethereum founder Vitalik Buterin shared his opinion about the new forks.
Dogecoin (DOGE)
Dogecoin was launched in 2013 by software engineers Billy Markus and Jackson Palmer. Doge has different rootstocks compared to other projects. After the revamp of Bitcoin in 2009, people showed their speculation about it. At that time, these two software engineers planned to produce a cryptocurrency as a joke to the controversy surrounding Bitcoin innovation. They wanted to develop a much better currency than Bitcoin. They succeeded in their move and chose the face of the udder dog Shiba Inu as their crypto logo.
Although it started as a joke to some extent, Dogecoin really outperforms Bitcoin. A Dogecoin transaction takes less than 2 minutes per transaction. It also charges around $2, which is less than Bitcoin.
Stellar (XLM)
The interesting thing about Stellar is that it is not cryptocurrency itself and facilitates banks and other payment systems for transactions. The cryptocurrency here is XLM, which circulates through the Stellar network and helps banking transactions by converting crypto to fiat currency. During the digital transaction, XLM is transferred and converted into fiat currency for deposit in banks.
BNB Coin (BNB)
BNB coin originally ran on the Ethereum Blockchain. It later switched to its own Blockchain, Binance Chain. BNB facilitates fast fund transfer and is one of the great altcoin projects for investment.
Polkadot (DOT)
Polkadot has grown in popularity lately. It was designed by Ethereum co-founder Gavin Wood in 2017. The Polkadot network is quite different from other cryptocurrency networks. It is also a Blockchain-based network. However, Polkadot has multiple Blockchains and allows for cross chain transactions. The network has all the possibilities it does not have like the open source network.
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