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Bitcoin vs Ethereum vs Ripple vs Litecoin

Cryptocurrencies have become increasingly popular over the past decade with — the most popular of them all — Bitcoin reaching an astounding high of $20,089 on December 17, 2017.  Earlier this year in June, Facebook announced its cryptocurrency, Libra alongside its wallet Calibra and joined the blockchain market. The company also gave an option to its employees working on the Libra Project to choose to be paid in cash or Libra Coins. Isn’t that surprising? The way in which countries and companies are implementing cryptocurrencies completely supports the fact that investing in the right cryptocurrency is important. With a plethora of cryptocurrencies in the market, it can become a challenging task to choose the right one at the right time so that the investment turns profitable. In this article, we have compared four of the most popular cryptocurrencies that should give you a headstart into the world of cryptocurrency.

Also read: Can cryptocurrency replace fiat currency?

Bitcoin (BTC)

Current Value: US$10,003.96 | Highest Value: $20,089 (17 December 2017) | Lowest Value: US$65.53 (July 5, 2013)is it possible to mine bitcoins on a phone? Here is how to mine on AndroidBitcoin, the biggest cryptocurrency by market cap as well as its current price, was created in the year 2009 by Satoshi Nakamoto — a mysterious identity that could be a person or an organisation. Bitcoin is the most widely-accepted cryptocurrency around the world. It works on the concept of Blockchain and has public ownership.

It uses the proof-of-work algorithm and has transaction speed of up to an hour depending on the fees. It can handle up to six transactions per second and has a deflationary coin supply of 121 Million coins. It was built in Stack-based Language.

Bitcoins are generally used for investment purpose but can also be used in buying products or services and has a transaction cost of US$40.

Also read: Can Cryptocurrency be counterfeited?

Ethereum (ETH)

Current Value: US$186.69 | Highest Value: US$1,432.88 (January 13, 2018) | Lowest Value: US$0.420897 
(October 21, 2015)Top 7 Bitcoin alternatives every crypto investor should check outEthereum is a Blockchain organisation, which made the digital token Ether. Unlike Bitcoin, Ether has become more specific in terms of its usage. It is upheld by the Blockchain and was created in the year 2015. It has public ownership.

Ether also uses the proof-of-work algorithm and has transaction speed of six minutes, which is way better when compared with Bitcoin. It can handle up to 20 transactions per second and has an inflationary coin supply of 21 Million coins. It was built in Turing Complete Language.

Ethereum helps in making decentralised applications and has a transaction cost of US$0.85.

Also read: Top 7 secure cryptocurrency wallets

Ripple (XRP)

Current Value: US$0.264836 | Highest Value: US$3.84 (January 4, 2018) | Lowest Value: US$0.002802 ( July 7, 2014)Top 7 Bitcoin alternatives every crypto investor should check outRipple was created for making cross-border transactions secure, cheaper and faster. It was created in the year 2012. It has private ownership and is owned by Ripple company. A new ledger of Ripple is created each second.

Ripple uses the consensus algorithm and has transaction speed of three to five seconds, making it the fastest in the list. It can handle up to 1500 transaction per second and has a coin supply of 100 Billion coins. It currently holds a 3rd position in the list of top cryptocurrencies.

Ripple has a transaction cost of US$0.004.

Also read: Is cryptocurrency illegal in India? Where else is it banned?

Litecoin (LTC)

Current Value: US$72.81 | Highest Value: US$375.29 (December 19, 2017) | Lowest Value: US$1.11 (January 14, 2015)Litecoin was created in the image of Bitcoin. Though, it is still better than Bitcoin in terms of transaction cost and block time. It is a peer-to-peer cryptocurrency, which does not have any central authority and was built by Charles Lee — a US-based computer scientist in the year 2011.

Litecoin uses the proof-of-work algorithm and has transaction speed of 30 minutes, which is better than Bitcoin. It can handle up to 56 transactions per second and has a deflationary coin supply of 84 Million coins. It currently holds a 5th position in the list of top cryptocurrencies.

Litecoin has a transaction cost of US$0.04.

Note: All the value are true at the time of writing unless updated and specified otherwise.

Categories

Bitcoin

Ethereum

Ripple

Litecoin

Ownership | Market Rank

Public | #1

Public | #2

Private | #3

Private | #5

Transaction speed

Appr. 1 hour (depending on the fee)

6 minutes

3-5 seconds

30 minutes

Block Time

10 minutes

15 seconds

N.A.

2.5 minutes

Algorithm

Proof-of-work

Proof-of-work

Consensus

Proof-of-work

Coin Supply: Circulating | Total | Maximum

17,890,175 | 17,890,175 | 21,000,000

107,424,267 | 107,424,267 | N/A

42,890,708,341 | 99,991,376,954 | 100,000,000,000

63,087,599 | 63,087,599 | 84,000,000 

Number of transactions/second

6

20

1500

56

Current Value

US$10,003.96 (August 22, 2019)

US$186.69 (August 22, 2019)

US$0.264836 (August 22, 2019)

US$72.81 (August 22, 2019)

Highest Value

$20,089.00 (December 17, 2017)

US$1,432.88 (January 13, 2018)

US$3.84 (January 4, 2018)

US$375.29 
(December 19, 2017)

Lowest Value

US$65.53 (July 5, 2013)

US$0.420897 
(October 21, 2015)

US$0.002802 (July 7, 2014)

US$1.11 
(January, 14 2015)

Market Cap

US$178,972,575,110

US$20,055,489,437

US$11,359,009,415

US$4,593,565,763

Also read: What is a Cryptocurrency Mining Pool? Tips for selecting a pool

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