The world’s first cryptocurrency was bitcoin. Since its launch in 2009, it has become the most famous and valuable. But this is not the only player on the market.
In 2011, it was followed by lightcoin. Created by Charles Lee, who later helped create Coinbase, a leading cryptographic platform, Light is based on the same code as Bitcoin, but with several features designed to address the issue with transaction speed and access to the mining process.
And in 2015, the ether debuted, which mixed bitcoin technologies and the desire of lightcoin to speed, with several features, including smart contracts.
Lightcoin is closely related to bitcoin – they are built on one basic code, but with a few distinctive settings. The main difference is that light is extracted using the Scrypt algorithm, where the calculations are simpler compared to SHA-256. Users can get the lights on a good laptop or desktop PC, especially if it is equipped with a powerful graphics card.
Like lightcoin and bitcoin, the ether is based on the same concept with blocks and hashes. But the ether adds something new – smart contracts. This collective distributed computer network, Ethereum Virtual Machine, can in some sense be leased. Participants who consume computing power are paid for with tokens; those who facilitate processing can earn them. Of course, buyers and sellers can just trade the air.
A group of companies and universities formed a non-profit organization specifically designed to legitimate the broadcast and promoted it as an open source platform rather than a commercial enterprise as such.
What is the most valuable cryptocurrency?
Bitcoin remains the most visible and tradable. After a remarkable surge in late 2017, it reached a full $ 20,000 but gradually dropped to about $ 10,000 after the announcement of the South Korean regulators banning the trade. The price of a lightcoin, called “silver” in relation to the “golden” bitcoin, followed a negative trend, and now fluctuates around $ 180. The ether goes its way, exceeding $1000 in early 2018.
Which coin is best for you?
Not so simple. Nobody knows whether any coin will increase in value. It can only be noted that there are significant differences between the three.
Bitcoin is the main choice for currency seekers with the advantage of a pioneer, incredible popularity, and high capitalization. On the other hand, it is almost impossible to extract it now because of incredible energy costs.
Light offers its advantages. Its creator is known and active in the community of crypto-currency systems. The coin has the ability for faster transactions – a potential advantage. And here, there still lies the potential for profitable mining, unlike bitcoin.
Ether has support, which can be useful. It has the potential for intrinsic value, such as that of bitcoin and lightcoin, but also more obvious commercial applications. And, like bitcoin, he spawned some other coins using blockchain.