Cryptocurrency has been on the rise over the last couple of years, contributing to the economy in a way that many people thought impossible. A number of them are doing extremely well, but some have lost their popularity because of various factors. Bitcoin has been the leading cryptocurrency in the decentralized economy, but that does not mean that altcoins are not growing and performing well. Altcoins prices are gaining more momentum and users have been campaigning for the beginning of ‘all season.’ Prices are predicted to increase as well as the number of altcoin enthusiasts in the coming year. This article highlights growing altcoins that are performing well in the market.
- Ethereum (ETH).
Ethereum is the second largest cryptocurrency after Bitcoin regarding performance and market value. It was launched in 2015 by Vitalik Buterin. The price of this altcoin has grown from $9 in 2017 to $1,390 in 2018. In 2019, Ethereum’s prices have been steadily increasing, which earns it the top spot in the altcoin market. It can be used in several cases including predicting markets, identity management, banking and financial services, and initial coin offering (ICO).
- Litecoin (Litecoin.Com).
Litecoin was established in 2011 by a former Google employee. It was created to correct the shortcoming of Bitcoin. Speed was the major problem that users were facing, hence the launch of Litecoin, which is four times faster than Bitcoin. This altcoin has been on the market for over six years, which explains its popularity and good performance. The prices have been increasing over the years with a few unsteady periods.
- Ripple (XRP)
Ripple is the third largest cryptocurrency after Bitcoin and Ethereum. There has been a debate about this particular altcoin because it aims for centralization rather than decentralization, which is the core aspect of cryptocurrencies. It is popular because it is considered to be safe. For more information on trading with Ripple, check out reliable sites and crypto networks. XRP is associated with big institutions rather than individual users.
This altcoin was created by Dan Larimer and launched in June 2017. It has similar functions as Ethereum in the sense that it is used to build decentralized applications. It was established to correct the flaws of Ethereum. It is therefore faster and more scalable than Ethereum. Transactions on this altcoin are also free compared to Ethereum.
- Cardano (ADA).
Cardano was founded in September 2017 by Charles Hoskinson, who also co-founded Ethereum. It is new in the market, but this does not hinder its performance. It offers technological advancement over other cryptocurrencies. It is designed to offer a solution to three problems faced by Blockchain projects, which are sustainability, scalability, and interoperability.
- Stellar (XLM).
This altcoin was founded in 2014 by the co-founder of Ripple, Jed MacCaleb. It was released as a decentralized payment with a native currency, Stellar. Transactions are through a consensus process among accounts unlike other altcoins where transactions occur through mining first. It has also established several partnerships with major tech companies like IBM.
Chainlink has been the talk of the cryptocurrency market in 2019. It is a programmable token focused on DApps rather than a general-purpose cryptocurrency. Its performance has been outstanding and it has at times outperformed Bitcoin.
There have been speculations about the decline of altcoins as a result of increased popularity of Bitcoin. This generalization does not do justice to many altcoins that are performing well in the market today.