Bitcoin has taken much glamour and media attention due to its current dramatic performance. However, there are some amazing underdog cryptocurrencies collectively known as altcoins that might surprise you.
Charlie Lee, a former Google engineer, created and introduced this silver to bitcoin’s gold coin into the digital space in 2011.
Litecoin works through a script algorithm —that generates a faster transaction confirmation — as the proof-of-work which is slightly different from the one bitcoin uses.
Vitalik Buterin, a Russian-Canadian computer programmer, launched the Ether coin to the market in 2015. Ethereum is a decentralized software platform that entails an open blockchain in which users can use Ether to develop, codify and operate various applications inside the system.
Zooko Wilcox-O’Hearn, a computer security expert, got inspiration from bitcoin’s success to introduce zcash that entails further measures. Users can conceal themselves from the receivers and senders knowing the amount being transferred using optional privacy security protocol.
An untraceable, private and secure currency that was developed to not only improve the privacy of mining procedures but also to make them more accessible. Monero, launched in 2014, enables users to enjoy a more distributed mining scheme due to its egalitarian mining protocols.
Due to the constant bombardment of Litecoin operations by a bug, Evan Duffield decided in 2014 to launch the darkcoin. Even though it was later rebranded to digital cash (Dash) after the correction of the code error, it continued to be known as the Darkcoin as criminal enterprises continued to use the currency.