Alternative Cryptocurrencies

MusaibSiyal

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Alternative cryptocurrencies have been developed to address some limitations of Bitcoin. Some alternatives aim to change economic incentives and energy use through developing different cryptographic algorithms, different inflationary models or different consensus protocols such as “proof of stake” where block creation chances are proportional to the stake participants have in the cryptocurrency.

Some alternatives aim to add features such as Namecoin which stores data for use as a decentralized Domain Name System; or Emercoin which offers a distributed trusted storage service to name just two.

As of July 2017, there are around 830 cryptocurrencies listed on Coinmarketcap.com but, so far, none of them has surpassed Bitcoin’s market capitalization.
 
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