There are many encrypted electronic currencies, not only was Bitcoin a pioneer in the field of electronic marketing, but it became the de facto standard for cryptocurrencies, which led to inspiring many followers to discover many other electronic currencies as alternatives to Bitcoin. Learn through this article on 9 of the most popular and competitive Bitcoin electronic currencies.

What are electronic currencies?

Electronic currencies, or cryptocurrencies, are widely recognized, as they are virtual or digital currencies in the form of symbols or coins. These virtual currencies, some of them invaded the physical world with credit cards and many other projects, although they are intangible currencies. The field of cryptography is constantly expanding, as Bitcoin continues to be the leader in leading these cryptocurrencies, in terms of popularity, market value and user base.

Cryptocurrencies are always designed to be free from manipulation and government control, and in our article we will review the most important electronic currencies with you, and although there are more than 1600 digital currencies, all of them enjoy great popularity from supporters and investors, and although Bitcoin is the leader in electronic currencies, but Analysts adopt many methods to evaluate symbols other than BTC, so many electronic currencies that we will learn about together appeared in this article.

Electronic currencies

1- Litecoin "LTC"

This currency was launched in 2011, and was among the first electronic currencies affiliated with the currency of the Bitcoin. It was referred to as silver in Bitcoin gold, and this litecoin currency is based on an open source global payment network, which is not under the control of any central authority and uses “cryptography” as evidence of action, which can be decrypted with the help of consumer-class CPUs. The currency is much like Bitcoin, except that it has a faster block generation rate, and thus provides faster confirmation of transactions other than developers. There is a growing number of traders accepting Litecoin, as the market capital of Litecoin in 2019 exceeded $ 2 billion.

2- “Ethereum” - “ETH”

Ethereum is a cryptocurrency, launched in 2015, as it is a decentralized software platform that enables the building and operation of smart contracts and distributed applications without any interruption or interference from a third party. The applications run on Ether on the platform's cryptographic system, and this ether is represented as a way to navigate the Ethereum platform. Many developers are seeking to develop and run applications inside Ethereum, especially investors who are looking to buy other cryptocurrencies using Ether. The capital in 2019 for Ethereum was around $ 1 billion.

Digital currencies

3- "Zcash" - "ZEC"

Zakash is a decentralized and open source electronic currency, launched at the end of 2016, and the Zakash currency provides privacy, selective transparency of transactions, and the ability to choose protected transactions that allow content to be encrypted using advanced encryption technology. The cryptocurrency market cap reached over a quarter of a million dollars in 2019.

4- Dash

Dash cryptocurrency is a more secret version of Bitcoin, as Dash offers more anonymity because it operates on a decentralized master token network, making transactions untraceable. This coin was launched in early 2014, and has seen an increase in the number of its fans in a short period of time, as it is constantly evolving. And it is extracted by using the CPU or GPU, and the name of this currency has been changed from DarkCoin to Dash, which means digital cash. In 2019, the market value of the Dash coin was more than half a million US dollars.

Bitcoin alternatives

5- "Ripple" - "XRP"

Ripple was launched in 2012, and it is an electronic currency that enables banks to settle cross-border payments in real time, with comprehensive transparency and low costs. What distinguishes this cryptocurrency from Bitcoin and other electronic currencies is that the structure of Ripple does not require mining, and thus it reduces the use of computing power and reduces access time to the network. Ripple has seen great success and remains one of the most enticing digital currencies among traditional financial institutions, looking for ways to revolutionize cross-border payments. The market value of Ripple's twelve billion dollars.

6- Monero “XMR”

It is a private, secure, and untraceable currency, and it was launched in 2014, and interest in this currency has increased among the crypto community, as the development of this currency depends on donation. The Monero coin focuses on decentralization and scalability, thus it allows complete privacy using a special technique called “ring signatures”, and through this technology a set of signatures appears, but since all of them appear to be valid, real signatures cannot be isolated, and with such exceptional security features, Monero has developed something of a bad reputation that has been linked to criminal operations around the world. However, whether it was used for good or evil, there is no denying that Monero has introduced important technical developments in the electronic currency arena, and the market value of Monero in 2019 reached an increase of half a million dollars.

7- Bitcoin Cash

Bitcoin Cash is one of the oldest solid companies in the original Bitcoin in the world of virtual currencies, so it occupies an important place in the history of cryptocurrencies, due to the decentralized nature of digital currencies, wholesale changes must be made to the code on which the token is based, or the currency in Hand in hand due to general consensus. And the mechanism of this process differs according to the particular cryptocurrency, when the different factions do not reach an agreement. The digital currency is sometimes split and the original remains true to the original code.

8- "ADA" - "Cardano"

This currency was launched in late 2017 by one of the founders of the Ethereum currency, and the Cardano currency offers all the advantages of Ethereum, in addition to many other benefits, as Cardano provides a platform for smart contracts, and aims to some of the most pressing problems that cryptocurrencies suffer in every Place, including environmental operability and scalability. Cardano hopes to address issues related to international payments, which are usually timely and expensive, thanks to its focus on this region. Cardano took international payment processing times from days to seconds, and for 2019 this company had nearly $ 1 million in capital.

9- EOS

This coin was launched in 2018, and this coin was designed after the ether, so it provides a platform through which developers can build decentralized applications. EOS is notable for many other reasons, although its ICO was one of the longest and most profitable offerings in history, achieving a record $ 4 billion in investor funds, through a year-long crowdsourcing effort. EOS introduced the Proof of Interest Delegation Mechanism, which it hopes will be able to offer scalability, along with its competitors. And the market value of this electronic currency more than two billion dollars.

With all these cryptocurrencies in place, Bitcoin continues to lead this cryptocurrency group in terms of market capitalization, user base and popularity. And in light of the current trend, cryptocurrencies will still exist, but how many of them will emerge as leaders amid the increasing competition within space, this will not be revealed until over time.