In the current market, there are many cryptocurrencies available, including Bitcoin.
Litecoin was created in 2011, and was created by Charlie Lee, a Formal Google Engineer, and an MIT graduate. It is based on the open-source global payment network, not controlled by any central authority and uses “scrypt” as proof of work. It has a faster block generation rate that leads to fast transaction confirmation. In February’ 2019, it had a market cap of $2.63 billion and a per token value of $43.41.
The second one is Ethereum (ETH). It is a decentralized software platform that enables smart contracts and distributed applications. In 2014, Ethereum launched a pre-sale for ether and received a positive response. ETH can be used to codify, decentralize, secure, and trade just about anything. After the attack on DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic(ETC). As of Feb 2019, Ethereum(ETH) had a market cap of $12.49 billion and a per token value of $118.71.
Another one is, ZCash(ZEC), decentralized and an open-source cryptocurrency launched in 2016. Zcash uses one analogy to define itself as “If Bitcoin is like HTTP, Zcash is HTTPS.” Zcash claims to provide extra privacy for all transactions recorded and published. In February 2019, Zcash had a market cap of $291.21 million and a value per token of $49.84.
The fourth one is DASH, and it’s also known as darkcoin. It is the more secretive version of Bitcoin. DASH works on a decentralized master code network that makes transactions almost untraceable and offers more anonymity. Launched in 2014, it gained a massive following in little time. Evan Duffield is the man behind it, and GPU or CPU can be used to mine. As of on 9 February 2019, DASH had a market cap of $640.76 million and a per token value of $74.32.
Ripple(XRP) is a real-time global settlement network that offers instant, low-cost international payments. Launched in 2012, Ripple’s consensus ledger is unique from other currencies, in which it doesn’t require mining. That’s how Ripple is different from Bitcoin and many other altcoins. As Ripple’s structure doesn’t require mining, it reduces the usage of computing power and minimizes network latency. As of February 2019, the ripple had a market cap of $12.69 billion and a per token value of $0.308.
So, these are the famous cryptocurrencies, with Bitcoin leading the market through its user base, popularity, and capitalization of the marketplace. According to the present trend, cryptocurrencies are here to rule, but how many of them will survive as leaders in this increasing competition?
Why IPC is dead
IPC had miners mining since late December 2013 but had no domain names registered, no references, no code, no code design, no website, no coins, no trading, and no sales. However, in 2014, they had many sites and lots of mining pools, with over 100 active users and over 200 Facebook likes and shares. It also had a beautiful trademarked coin and design, 20 million coins in circulation and daily sales of coins on eBay and other sites.
IPC struggled to be recognized amongst the many coins, and not launching on altcoin forums first, might have caused a few issues in its own. For these reasons, IPC died out, especially with the explosion of so many new coins littering the markets overnight.
The domain name imperialcoin.org was registered on 30 November 2013, and the dot org was a credible choice used by both Bitcoin and Litecoin. However, there was tension over who had first come up with the idea of the coin in circulation. Similar names have popped up such as IMP, a competitor, and since then there have been more claims from both sides about the millions of coins available.
In February 2015, allcoins.com permanently shut down the market, but their traders had continued with buying IPC on several other exchanges. In June 2015, IPC announced that comkort exchange was ceasing their operation. They tried to deliver the best possible service for profitable cryptocurrency trading. Still, the time had come to terminate their services. They announced to users to withdraw their funds before 19 July 2015 and stopped trading on 1 July 2015. IPC said the reason behind the closure was that the exchange wasn’t profitable.