The Ethereum platform continues to thrive in a competitive сrypto market; with great functionality, brilliant support for businesses and exceptional ETH to USD value compared to Bitcoin, it is no wonder it has held its position at a firm second place.
That being said, there are plenty of altcoins vying for the coveted second place spot, some even aiming to dethrone the mighty Bitcoin. In this article, we look at 3 of the most promising alternatives to both Ethereum and Bitcoin and give you a rundown of why we think they could be altcoins to really get behind.
Like so many of the major crypto tokens, Ethereum has had its fair share of discontent among the communities that use them. Out of this discontent the Ethereum Classic coin was born, a continuation of the Ethereum blockchain but with a focus on enhanced usability.
Remaining decentralized and with a core development team aiming to enhance the Ethereum platform from a user perspective, Ethereum Classic takes big steps towards making transacting effective on the Ethereum blockchain. Among its basic attributes are that it records and stores all transactions on the Ethereum blockchain with the goal of preserving data for security purposes.
The coding of Ethereum Classic binds a user to a transaction once they have committed to it. The code is final, and this means that once a transaction has been entered, it can’t be tampered with, reversed or altered in any way. Once the transaction has completed, the record is stored permanently and again is free from any outside interference.
Currently Ethereum Classic is creating a lot of positive waves throughout the crypto world, getting attention from Ethereum users and beyond. Because it runs on the great technology Ethereum created, it benefits from having a solid foundation and a trusted platform for users everywhere.
Currently traded at a healthy but relatively inexpensive price of $17, you can find Ethereum Classic on the exchanges under ETC.
Litecoin has long held the position of the rank outsider of the altcoins, always plodding along with relative ease and enjoying a good amount of investor trust. Litecoin is a crypto that is looking to draw itself closer to the top of the rankings by offering users fast transaction speeds and plenty of functionality as well.
It has had a rough time as of late, with values of the token dropping significantly, but it is certainly still a big contender. Because values are currently so low compared to the coin’s history, buying up Litecoin could be a fantastic investment that could potentially garner high returns in the future.
With updates pending, Litecoin could be the breakout token of 2018, and the developers are certainly looking to end the year on a high rather than the nosedive it took at the end of 2017.
The Litecoin community is always very optimistic about the token and there are plenty of forums online that sing the coin praises and herald it as the way forward for crypto as a whole.
If it can shed its teething issues and make progress towards the end of the year, Litecoin could grow exponentially and even break into the top 3.
Keep an eye on the value of Litecoin, as it is expected that with the price so low there will be a flood of investment shortly, which should pick the value of the coin up very quickly.
Currently, Litecoin is trading at around $98 and can be found on the exchanges as LTC.
Currently enjoying a consistent third place on the cryptocurrency markets, Ripple is a game changing altcoin that has the potential to completely demolish both Ethereum and Bitcoin. The cornerstone to its continued success is that it is heavily used in the real world by banks and financial institutions.
With major financial backing and much of the financial sector moving towards integration of the Ripple protocol, there really could come a time when Ripple blows away all opposition, purely because of its real-world applications and functionality.
With financial institutions in a dilemma about how to store and record data safely, the Ripple protocol provides an effective and importantly, cheap solution.
Having already made steady gains against Ethereum and Bitcoin, all it could take is a few larger financial organizations to buy into Ripple, and it would become the first mainstream crypto. Something that Bitcoin has been trying to become to no avail for the last few years.
Ripple is currently trading at a very inexpensive price of $0.54, with many expecting it to surge in value in the near future. You can find Ripple on the exchanges as XRP.
Is Ethereum in trouble?
This is a difficult one to answer. On the whole, Ethereum is a well thought of and stable currency operating on a fairly robust blockchain. But there are minor problems that continue to arise, not least concerns from within the Ethereum user base itself.
Ethereum faces some very stiff competition going forward, and there are many altcoins determined to overtake it in the crypto standings. Some of them are baseless and are purely speculative, while the 3 we have mentioned not only have the track record to show they have stayed in power but also have strong communities behind them looking to bolster them up through the rankings.
With increasing competition, Ethereum is now in a position where it needs to decide whether to stick with the original concept and hope for the best or whether to push the altcoin in a new direction in the hope of putting the debate to rest.
Either way, there are some fantastic and innovative altcoins available, and Ethereum has thus far stood the test of time. It is now a matter of how long it can continue to.