Altcoin is the alternative cryptocurriences launched after the success of bitcoin. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. As the term ‘altcoins’ means all cryptocurrencies which are not Bitcoin, there are hundreds of altcoins.
Top Types of Altcoin
EOS is a blockchain platform for the development of decentralized applications. It provides a complete operating system for decentralized applications focused on the web with services like user authentication, cloud storage, and server hosting. A developer simply needs to hold EOS coins, instead of spending them, to be eligible to use network resources and to build and run apps.
Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs a US-based technology company. Ripple is based around a shared public ledger, the XRP Ledger, which uses a consensus process that allows for payments, exchanges, and remittance in a distributed process. XRP is a token used for representing the transfer of value across the Ripple Network.
Stellar is an open-source, decentralized protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies. The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation. The native digital asset of Stellar is called Lumens (XLM). In other words, Stellar is the payment network (Horizon API and Stellar Core) and Lumens (XLM) is the cryptocurrency.
Zcash is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin. Like Bitcoin, Zcash has a fixed total supply of 21 million units. Zcash allows anyone with a computer and an Internet connection to send and receive scarce tokens that can be used like cash on the Internet.
0x is an open protocol that is designed to offer a decentralized exchange as part of the Ethereum blockchain. 0x is made using a protocol that involves Ethereum smart contacts that allow those around the world to run a decentralized exchange.
Basic Attention Token is an open-source, decentralized ad exchange platform based on Ethereum, founded by Brendan Eich. The platform is integrated with the Brave web browser. The BAT token is designed to correctly value and price user attention within the platform.
Tron is an ambitious project dedicated to building the infrastructure for a truly decentralized Internet. (TRX) is the official currency of TRON, which aims to be a decentralized entertainment content sharing platform eventually leveraging blockchain and peer-to-peer (p2p) network technology.
Ethereum Classic is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine, which can execute scripts using an international network of public nodes.