10 Best Digital Currency or Cryptocurrency Apart from Bitcoin – In this day and age digital currency or better known as Cryptocurrency has become another alternative for online-based buying and selling transactions. Cryptocurrency is a digital currency that is created using the concept of cryptography. As in history in the past, where this one concept was used in World War II. Cryptography is considered safe because it uses a secret security code and is quite sophisticated.
Cryptocurrency itself comes from 2 words, namely cryptography and currency. Cryptocurrency means secret code while currency means currency. Of the many digital currencies that exist today, bitcoin is one of the most widely used. The currency that was developed by Satoshi Nakamoto, when it is converted, reaches 47 million rupiah!
Bitcoin is also known as Cryptocurrency (Read: What is Bitcoin? Complete Explanation About Bitcoin) equipped with a sophisticated security system. Bitcoin uses SHA-256 encryption almost impossible to hack. Bitcoin is also considered as one of the potential investments in the future. Based on the narrative of the CEO of Bitcoin Indonesia which was reported on the CNN Indonesia website, he said that bitcoi is the most well-known cryptocurrency today which has basic properties like gold. Availability is limited but full of uses so that the price can continue to increase.
Even bitcoin is not only in Indonesia, but almost all over the world. Some of them are Japan and countries in Europe. This proves that bitcoin really makes the whole world interested in the world of Cryptocurrency. Meanwhile, the government has a different attitude regarding the circulation of bitcoin. Bank Indonesia issued an appeal which was supported by the Minister of Finance not to conduct any transactions with virtual money.
This is because bitcoin has no formal basis and regulatory authority, not only that, bitcoin is prone to being misused for illegal transactions, money laundering, and terrorism financing. So Indonesians are urged not to make transactions through virtual money because they are feared that it will disturb the stability of the country’s financial system.
Best Cryptocurrency Apart from Bitcoin
And the following are the 10 best and most popular and widely used digital currencies or Cryptocurrency today besides bitcoin digital currency.
Ethereum is said to be a serious competitor to bitcoin. This cryptocurrency created by Vitalik Buterin was first launched in 2014. Although it is relatively new, it can be said to be the best cryptocurrency because the value of all Ether in the world has reached US $ 942 million. Ethereum is also known as a digital currency that can make peer-to-peer payments without using a third party.
The next best cryptocurrency is Litecoin, made by Charles Lee who is also a former employee of the largest internet company, Google. Charles first created litecoin in order to make Bitcoin even better. Litecoin also has a Segregated Witness feature, making digital money transactions faster at low fees. Litecoin can be used to transact goods and services. Wow, so there are many payment alternatives.
Formerly a dash called darkcoin. Because for marketing purposes, the name darkcoin was changed to Dash. This cryptocurrency DASH uses the X11 algorithm using 11 unequal rounds of hash functions. It is claimed, the algorithm is able to make transactions much faster than others. In fact, the market value is more than 110 million U $ dollars, a fantastic amount! so that dash is also included as the best cryptocurrency today.
Ripple was originally developed behind closed doors by the Ripple Network. The purpose of this development is to create a payment system that is easy, efficient, fast, and safe. And in 2013 Ripple Network decided to open these projects under the auspices of the ISC license. Equipped with a Consensus-based algorithm, you can make payments, exchange, and send money in a distributed manner.
5. Bitcoin Hash
Bitcoin Hash existed for the first time in 2017 and is a fraction of bitcoin. At that time, bitcoin hash can be used for buying and selling transactions. At the age of only about 2 years, this cryptocurrency is able to compete with other digital currencies at a very fantastic price, reaching Rp. 14 million per unit.
6. Bitcoin Gold
Similar to bitcoin Hash, bitcoin gold is also relatively new in 2017 because of the hard fork of the Bitcoin system. The price of this digital currency is not as big as the five Cryptocurrencies above, but it is still included in one of the most expensive digital currencies in the world at a price of around 1 million for one unit.
One of the advantages of Zcash can be seen from the security side. This digital currency is capable of providing transaction encryption and the amount being transacted so that it is not easy to trace. Equipped with a zero-knowledge proof cryptographic algorithm, it is possible for users to have money without having to show the money or identity they are transacting. Wow, amazing isn’t it?
Many think that monero is an anonymous currency. In fact, monero is a cryptocurrency that focuses more on privacy, making it safer and untraceable. Monero has a market capitalization value of around US $ 181 million or about 2.5 trillion rupiah if it is converted into rupiah.
Changes in the price of this digital currency tend to be more stable with an average value of US $ 1,012.53. Maker or MKR was developed with the aim of stabilizing the value of the bond through smart contracts which are also known as Collateralized Debt Positions or CDP. When the smart contract ends, the MKR token will be lost.
Byteball is a cryptocurrency that features a Cryptocurrency wallet, bot market, and also a digital currency product called Bytes. Through this feature, anyone can convert bitcoins to bytes or vice versa. The technology is very sophisticated using a protocol that adopts the Directed Acyclic Graph (DAG) system, instead of using conventional blockchain technology. This cryptocurrency was first developed in December 2016, an initiative of a team of developers from Russia, Moscow.
These are some of the best digital currencies and have very high market value in the world apart from bitcoin. It is interesting to wait, how is the journey of the ten Cryptocurrencies, is it growing or decreasing.