Bitcoin is the king of digital currencies, at least for the time being. There are several competing digital currencies, however, that could one day rival bitcoin.
Many of these currencies claim to offer certain technical advantages over bitcoin. Other currencies are taking a whole new angle on digital currencies, trying not just to offer an alternative to cash, but also to offer software development opportunities, social media platforms, and other services powered by the blockchain.
For now, bitcoin enjoys a huge lead over the competition, at least in terms of market cap. With a market cap of $10 billion dollars as of writing this article, bitcoin is about ten times as large as the closest competition. Still, one day Ethereum, Steem, Litecoin, or another contenders could steal the crown. That’s why we’re going to take a moment to go over bitcoin’s chief competitors.
The Challenger: Ethereum ( Ethereum Classic)
Ethereum has been gaining a lot of attention as of late. This public blockchain software aims to support a lot more than “just” a digital currency. Developers can actually code software, and then power that software through the public blockchain.
Individuals can then sell their processing power and be paid with “ether” -a digital currency