Bitcoin Versus The World

There is no doubt that Bitcoin is the biggest cryptocurrency out there (although who knows how long this will really last).

The leading cryptocurrency has won the trust of many institutions and organisations driving its acceptance rate to be more positive.

With this, it is clear that the function provided by Bitcoin compared to the traditional banks makes it a better option though it has been highly criticised on the standing that its obscurity can encourage some individuals to money launder. This is just one of the weakness of the digital assets which is why many people think that there are better and more secure cryptocurrencies out there which makes it more promising in the eyes of many.

We’re going to go through a few cryptocurrencies which could prove to be a better alternative to Bitcoin in the future.

Litecoin

Even though I’m starting off with Litecoin, the current state of the crypto market isn’t going to back me up very well since the cryptocurrency is down ten percent over the past 24 hours leaving it to be priced at $30. But bear with me since Litecoin and Bitcoin are similar in many ways including their function and operation but there are differences too. Bitcoin and Litecoin use a different cryptography algorithm. On one hand, Bitcoin uses an SHA-256 algorithm whereas Litecoin uses Scrypt. With this in mind, Litecoin surpasses Bitcoin with 2.5 minutes while Bitcoin has a confirmation time of ten minutes depending on the traffic in the network.

Digibyte

This cryptocurrency has a low price but when it comes to long-term goals and technological implementation, there is no competition. The Digibyte team has successfully launched Digishield technology which is used by some digital currencies. Dogecoin, Bitcoin Gold and ZCash are just some of the digital assets which use Digishield. On the ground of block timing, Digibyte ranks higher with 15 seconds block timing ahead of Bitcoin’s ten minutes.

Digitbyte is allegedly forty times faster than Bitcoin.

Dash

When Dash came into the scene, it raised over $1,000 by finding itself in the top ten digital currencies with a big market cap too. There is one big thing that Bitcoin can’t compete with Dash on which is privacy. Full privacy. With Bitcoin users can create nicknames or an alias, making others to trace the transaction to its users, Dash comes with full private transactions.

Nevertheless, Bitcoin has a massive following behind whereas dash doesn’t which gives Bitcoin the lead on this one.

What are your thoughts? Let us know what you think down below!