May 29, 2017 6:39am NASDAQ:COIN
From Tyler Durden: Bitcoin is the original cryptocurrency, and its meteoric rise has made it a mainstay of conversation for investors, media, and technologists alike.
In fact, as Visual Capitalists Jeff Desjardins details, the innovation of the blockchain is changing entire markets, while causing ripples with central banks and the financial industry. At time of publication, the bitcoin price now hovers near US$2,200, a massive increase from this time last year.
But the true impact of Bitcoin is actually far more reaching than this its actually helped to birth new markets for over 800 other cryptocurrencies and assets that are available for online trading. And while the market for bitcoins is worth nearly $40 billion itself, the rest of these cryptocurrencies are actually worth even more in combination.
For the first time since Bitcoin was founded, it now makes up the minority of the entire cryptocurrency market at about 47.9% of all coins and assets.
So what are the other altcoins that make up the rest of this universe, and where did they come from?
Litecoin is one of the first altcoins, and it is nearly identical to Bitcoin after being forked in 2011. Litecoin aims to process blocks 4x faster than Bitcoin to speed up transaction confirmation time, though this creates several other challenges as well. At time of writing, Litecoins market capitalization is worth $1.3 billion.
Ethereum, launched in 2015, is the largest coin by market capitalization aside from Bitcoin. However, it is also quite different. While Bitcoin is designed to be a payments protocol first, Ethereum enables developers to build and deploy decentralized applications, while also enabling smart contracts. The tokens used to power the network are called Ether, but they can also be traded online. At time of writing, Ethereums market capitalization is $15.4 billion.
Also interesting: the Ethereum network actually split into two in 2016. Its a complicated situation, but read about it here. There is now a separate Ethereum, based on the original Ethereum blockchain, trading as Ethereum Classic with its own market capitalization of $1.4 billion.
Ripple (XRP) is the native currency of the Ripple Protocol a broader catch-all for an open-source, global exchange. Its already being used by banks such as Santander, Bank of America Merrill Lynch, UBS, and RBC. It solves a different problem than Bitcoin, allowing for settling payments between different currencies and even different payment systems. Today, Ripples native coin (XRP) has a market cap of $10.9 billion.
With over 800+ altcoins or assets out there, theres plenty of information to absorb.
Heres a short 20-minute course on the history of altcoins that might provide useful context, as well as in-depth explanations of Ethereum and Ripple that may help you learn about the important parts of a rapidly growing altcoin universe.
This article is brought to you courtesy of ZeroHedge.
Tags: Bitcoin BTC coin cryptocurrency currency ethereum NASDAQ:COIN Ripple Winklevoss Bitcoin Trust ETF(NASDAQ:COIN)
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- GitHub - ander7agar/altcoin-rpc: A modern Bitcoin Core REST ... - December 2nd, 2017
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- CryptoCurrency Investing: Research and Due-Diligence ... - September 6th, 2017
- ATC Coin Review: ATCC altcoin with massively inflated ... - September 5th, 2017
- JRM Altcoin Update - Quit chasing the headlines! - YouTube - September 4th, 2017
- Bitcoin Cash Statistics Confirm BCH is Just Another Altcoin - Live Bitcoin News - September 2nd, 2017
- Which Altcoins to Buy This Week? (31st of August, 2017) - Live Bitcoin News - September 1st, 2017
- OpenBazaar Developers May Introduce Altcoin Support in the Near Future - The Merkle - August 27th, 2017
- Exante launches XAI, the world's first altcoin fund - GlobeNewswire (press release) - August 25th, 2017
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- Op Ed: Drivechains Could Kill Off the Altcoin Market - August 22nd, 2017
- Nakamoto Institute Daniel Krawisz: I Don't Like Altcoins, but I Like Forks - Bitcoin News (press release) - August 22nd, 2017
- Bithumb, Highest Volume Exchange Globally, Adds Monero - Inside Bitcoins - August 22nd, 2017
- One-Man Band To Create The Second Altcoin Forum In The World - Coin Idol (press release) - August 18th, 2017
- When altcoin life imitates art - FT Alphaville (registration) - August 14th, 2017
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- Overstock Now Accepts Various Altcoins for Payment - Including ... - Bitcoin News (press release) - August 10th, 2017
- What are Altcoins and ICOs Bitcoin Whiteboard Tuesday - 99 Bitcoins (blog) - August 9th, 2017
- Cryptocurrency Symbol BCC Belongs to BitConnect Coin, Not Bitcoin Cash - Markets Insider - August 8th, 2017
- Crypto-Startup Hubcoin Announces Distribution of Pre-Mined HUB to Altcoin Developers - Bitcoinist - August 3rd, 2017
- This Altcoin Is Ready to Challenge Bitcoin's Domination of the ... - Futurism - July 31st, 2017
- Beginning of altcoin's end: US signals digital coins may be subject to federal securities law - CalvinAyre.com - July 31st, 2017
- All Major Indian Exchanges Reject Bitcoin Cash Completely - Live Bitcoin News - July 31st, 2017
- Global Advisors Launches ICO and Altcoin Closed-End Private Fund - Finance Magnates - July 31st, 2017
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- Payza Commits to Cryptocurrency: Unveils Full Bitcoin Services, Introduces Altcoin Exchanges - CoinDesk - July 7th, 2017
- What is an Altcoin? Bitcoin Magazine - July 7th, 2017
- CryptoPing completes $2.5 million ICO to further develop altcoin trading intel bot - CryptoNinjas - July 4th, 2017
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- Monday Massacre: Bitcoin, Ethereum Lead the Way as Cryptocurrencies Retreat into the Red - CryptoCoinsNews - June 26th, 2017
- Altcoin signal app CryptoPing set to conclude ICO with over $1m already raised - CryptoNinjas - June 25th, 2017
- EasyMINE: Altcoin Mining for Everyone - Coin Idol (press release) - June 22nd, 2017
- Altcoin 2017 Forecast: Litecoin (LTC), Peercoin (PPC ... - June 18th, 2017
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- Bitcoin Altcoin Trader Price Analysis - June 13th, 2017
- 'Real Businesses are Using Waves', Says Rep as Altcoin Crosses $600 Million Market Cap - CryptoCoinsNews - June 11th, 2017
- Altcoin Definition | Investopedia - June 9th, 2017
- Top 6 Altcoin Exchanges you may Have Never Heard of - The Merkle - June 8th, 2017
- Which Altcoins To Buy This Week (6th of June, 2017)? - Live Bitcoin News - June 6th, 2017
- Altcoin intel bot CryptoPing ICO now live - CryptoNinjas - June 5th, 2017
- All Top 20 Altcoins Fall By At Least 30%, Ripple Down to $6.2 Billion - CryptoCoinsNews - May 28th, 2017
- CryptoPing, the Cryptocurrency Bot that Monitors Altcoin Markets. ICO in 48 Hours! - FinSMEs (blog) - May 24th, 2017
- Which Altcoins To Buy This Week? (May 22nd, 2017) - Live Bitcoin News - May 24th, 2017
- Altcoin Price Increases and How CryptoPing May Help Traders - The Merkle - May 24th, 2017
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- CryptoPing Altcoin Intelligence Bot Announces ICO - The Merkle - May 15th, 2017
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- Which Altcoins to Buy This Week? (May 8th, 2016) - Live Bitcoin News - May 8th, 2017
- Altcoin Market Takes A Hit and Bounces Back Amid US$3bn Trading Spree - Live Bitcoin News - May 8th, 2017
- Total Cryptocurrency Market Cap Inches Closer Toward US$40bn ... - newsBTC - May 2nd, 2017
- Bitcoin Price is Once Again Above Gold Despite 'Altcoin Bubble ... - Inside Bitcoins - April 26th, 2017
- Altcoins Planning Segwit Integration Experience Price Pumps - Nigeria Today - April 26th, 2017
- Poloniex Altcoin Exchange Review - The Merkle - April 25th, 2017
- Ether Price Analysis: ETH Altcoin Dominance Continues - Bitcoin Magazine - April 21st, 2017
- Altcoiner Lets All Bitcoin Holders Earn A Daily Passive Income By Trading Altcoins - newsBTC - April 12th, 2017
- PIVX Growth Not Influenced by Dash nor Bitcoin in Altcoin Swell - CryptoCoinsNews - April 11th, 2017
- Altcoins See Their Value Go Up As They Inch Closer to Activating SegWit - Live Bitcoin News - April 10th, 2017
- Decred Benefits From Bitcoin Impasse, Joins Altcoins' Rise - CryptoCoinsNews - April 8th, 2017
- Altcoin-Fiat Trading Rises, BitPanda Adds Dash-Euro Trading - CoinTelegraph - April 2nd, 2017
- Ripple Price Surge Continues, Altcoin Takes Advantage Of Bitcoin Scaling Troubles - CoinTelegraph - April 2nd, 2017
- SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - AllCoinsNews.com (blog) - March 28th, 2017
- Top 3 Altcoin Pumpers in History - The Merkle - March 28th, 2017
- SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - PR Newswire (press release) - March 24th, 2017
- Op-Ed: Will Bitcoin's High Transaction Fees Open the Door for Altcoin Adoption? - CoinJournal (blog) - March 24th, 2017
- YoCoin Review: Pump and dump altcoin with recruitment - March 22nd, 2017
- SpectroCoin Announces Altcoin Support for Bitcoin Debit Cards - Yahoo Finance - March 22nd, 2017
- allcoinsnews.com Bitcoin, Altcoin & Blockchain Tech News - March 21st, 2017
- Several Exchanges Face Connectivity Issues During Bitcoin and Altcoin Trading Craze - newsBTC - March 18th, 2017
- PoSWallet Offers Online Altcoin Staking and Exchange Services - newsBTC - March 18th, 2017
- Bitcoin Dominance Index Crashes Below 80% as Ethereum and Dash Rise - CoinJournal (blog) - March 14th, 2017
- Altcoins Make a Comeback in Wake of Bitcoin ETF Decision - The Merkle - March 13th, 2017
- Livecoin, the Fourth Largest Altcoin Exchange Is Now Available in Eight Languages - Blockchain News - March 9th, 2017
- Bittrex Altcoin Exchange Review - The Merkle - March 2nd, 2017
- Karbowanec a Ukrainian local altcoin used with mobile top ups - TechAnnouncer (press release) (registration) (blog) - March 2nd, 2017