Bitcoin’s 58 thousand pounds to come around attracted interest in other currencies. The newspaper, Business Insider, conducted a survey and wrote about bitcoin’s rivals, which have a market value of over $ 5 billion.
Developed with blockchain technology such as Bitcoin, Ethereum was created by Vitalik Buterin in 2014 to further decentralise the digital currency.
Etherum is an open decentralized software platform, used to pay money transfer fees and perform these transactions.
As of February 22, 2018, it is trading at $ 862.
Ripple, which was previously rolled out by bitcoin developers in California in 2012, is Bitcoin’s most likely successor, according to some experts quoted by the New York Times.
It is already being used by many banks as a payment and money delivery system.
Unlike others, Ripple doesn’t mean anything without banks. So it was accepted by the banks as well.
As of February 22, 2018, it is trading at $ 1.02.
IOTA is the new player in the crowded digital currency field.
Not based on the blockchain network, IOTA is based on an alternative distributor account system named Tangle.
Collaborating with Microsoft, Fujitsu and other companies, this new digital currency describes itself as the first market area in the ‘Internet of things’ field.
IOTA is a slightly different currency than the others because it has neither miners nor transaction fees. The operation can be performed without being connected to the internet.
As of February 22, 2018, it is trading at $ 1.69.