Active Cryptocurrencies

cryptocurrency altcoins
They are breeding faster than rabbits, these cryptocurrencies. They are all marketing themselves to different niches. However, they are not as strong as the Bitcoin.

It’s an exciting time to be around if you’re interested in cryptocurrencies with more than 70 active in the current climate.

One thing is for sure, not all of them will survive. In fact, most of them will die a slow death, but there are several that are carving out impressive niches for themselves.

BitcoinAnytime has listed the most relevant cryptocurrencies other than our favourite Bitcoin, which you can read about here.

Litecoin

Litecoin began in 2011 and was incredibly popular because it was easier to mine and paid out better than Bitcoin. There are plenty of uses for Litecoin and it is one of the most stable cryptocurrencies out there.

You can almost think of Litecoin as 50 cents to Bitcoin’s dollar.

Feathercoin

Feathercoin was launched in 2013 and is almost a clone of Litecoin. Again the parallels to Bitcoin are there. It is easy to mine and is definitely one of the cryptocurrencies on the rise.

Peercoin

Also known as PPPCoin, Peercoin is a peer-to-peer cryptocurrency invented by Scott Nadal and Sunny King. King, who uses a pseudonym, also invented Primecoin.

The big difference between Peercoin and Bitcoin is that it does not have a hard limit on the number of coins that can be created.

Peercoin claims that it is more environmentally friendly than proof of stake coins such as Bitcoin because it doesn’t require huge amounts of computing power to secure the network.

Primecoin

Primecoin uses a scientific proof-of-work system and works hand in hand with Peercoin. The source code is registered to a group called Primecoin Developers.

Primecoin also claims that its transaction speed is quicker than computer-based proof-of-work cryptocurrencies.

Quarkcoin

Quarkcoin is a decentralised cryptocurrency which can be used for online peer-to-peer transactions. It uses a unique hashing algorithm which gives it an extra layer of security.

Each block in Quarkcoin’s proof of work takes 30 seconds, rather than the 10 minutes Bitcon takes.

Dogecoin

Dogecoin produces coins very rapidly, with more than 94 billion produced by November of 2014. This cryptocurrency has become known as the internet tipping system.

This means social media bloggers and the like can be given some funds for providing content, something for which they would otherwise have not been paid.

Dogecoin is very similar to Litecoin but has been targeted at a certain demographic.

Darkcoin

Darkcoin is positioning itself as an even more anonymous digital currency which is based on the Bitcoin Currency.

This crypto-currency launched as Xcoin on January 18, 2014, but changed its name soon after.

While everyone can see every transaction on the Bitcoin Blockchain, with Darkcoin users cannot follow the history of a block.

Created by Evan Duffield, Darkcoin has an obfuscated model of transactions which gives the users a greater degree of privacy.

Ripple

Basically the Ripple network is a shared public database with thousands of identical servers around the world.

When changes are made to this public ledger, computers active on the Ripple network must manually agree to the changes, but this process is done in seconds, making this digital currency a great peer-to-peer solution.

Chris Larsen is currently CEO of Ripple Labs, the parent company of Ripple.

Namecoin

Namecoin is based on the exact same code as Bitcoin and they are almost identical in terms of mathematics.

But the key difference is that Namecoin is a decentralised web host, a decentralised domain name system, with the obvious benefit being that it could put an end to governments around the world censoring certain websites.

These .bit domains have the potential to be misused but so far the reports coming back about Namecoin are largely positive.