Know the 5 Most Important Cryptocurrencies before you launch your ICO

Blockchain technology and ICO services are trending now. That’s the reason we thought to help all the marketers who are planning to launch their own ICO. Thus, gaining a fair knowledge is important before you start exploring more. 

This article talks about the 5 Most Important Cryptocurrencies. If you are interested in this space, consider this as a beginner’s guide.

1. Bitcoin: Bitcoin is the most popular cryptocurrency. It is a type of digital currency in which encryption techniques are used to make the transaction secure. It is the first decentralized peer-to-peer currency and anyone can create an account in Coinbase to buy and sell bitcoins. You can buy tokens for ICO with bitcoins. The improved version of bitcoins is collectively called altcoins.

2. Ethereum: Another widely known cryptocurrency after bitcoin is Ethereum. Launched in 2015, it is a ledger technology by which companies can build new programs. It is far more powerful than bitcoin. Though both are operating over “blockchain” technology. Ethereum’s blockchain technology is also referred to as “smart contract” where business applications can convert complex applications. According to Ethereum documentation, “it can be used to codify, decentralize, secure and trade just about anything.”

3. Litecoin: Launched in 2011, it is another cryptocurrency that almost act like bitcoin. It generates blocks faster using a different form of encryption and there are more developed litecoins than bitcoins. It is also often referred to as ‘silver Bitcoin’s gold’. It can be purchased and sold on a number of exchanges using all types of currencies.

4. Zcash: As the creator’s claim it is the decentralized and open-source cryptocurrency that provides strong privacy protections. “If bitcoin is like http for money, Zcash is https”. It is using Zcash that the investors or individuals can take the advantages of using a public blockchain, while their private information is fully protected. It offers fully-encrypted transactions.

5. Dash: This digital money system offers more anonymity as it works on a decentralized master code that claimed to make transactions almost untraceable. Though dash is based on the similar concept of bitcoin, it is more secretive. Developed in 2013, it is growing well as their motto is to simplify Peer-to-Peer digital transactions.

Apart from the above-mentioned cryptocurrencies, there are few other which are revolving in the marketplace. However, bitcoins continues to lead still now. Though all these encrypted currencies have separate roles still they are aiming at a similar destination. No doubt that cryptocurrencies are here to stay and time will reveal the leaders.

Businesses are showing interest in cryptocurrency and ICO development. We at Sphinx Solutions have earned a reputation for offering cutting-edge IT solutions. From smart contracts to crypto exchange development, we are working on different areas related to the blockchain.