Bitcoin and altcoins: Comparison of the main cryptocurrencies

Bitcoin and altcoins: Comparison of the main cryptocurrencies
Introduction.
Bitcoin, created in 2009 by Satoshi Nakamoto, was the first and most popular cryptocurrency. However, over time, numerous alternative cryptocurrencies, known as altcoins, have appeared on the market. In this article, we will compare bitcoin with the main altcoins, looking at their differences and features.

Bitcoin
Bitcoin (BTC) is a decentralised digital currency that works on a blockchain. Its main characteristics:

Deflationary: The maximum number of bitcoins is limited to 21 million.
Security: Uses the Proof of Work (PoW) consensus algorithm, which provides reliable network protection.
Acceptability: Widely accepted worldwide as a store of value and means of payment.
Ethereum.
Ethereum (Ethereum, ETH) is the second largest cryptocurrency by capitalisation, created by Vitalik Buterin in 2015. Main characteristics:

Smart contracts: Allows the creation and execution of automated transactions without intermediaries.
DApps: A platform for decentralised applications.
Ether: The platform's own currency, used to pay for transactions and services on the network.
Litecoin.
Litecoin (Litecoin, LTC) was created in 2011 by Charlie Lee as the ‘silver to bitcoin's gold’. Main characteristics:

Faster transactions: On average, a block is created every 2.5 minutes, which is significantly faster than bitcoin.
Cheaper transactions: Lower transaction fees compared to bitcoin.
Scrypt: Uses the Scrypt algorithm instead of SHA-256, which makes mining less resource-intensive.

Ripple
Ripple (XRP) was created in 2012 as a platform for fast international money transfers. Main characteristics:

Speed: Transactions take only a few seconds.
Low fees: Very low transaction costs.
Centralisation: Uses a unique consensus algorithm that makes the network more centralised than other cryptocurrencies.
Cardano.
Cardano (ADA) was created in 2017 as a platform for creating smart contracts with a focus on a scientific approach. Main features:

Proof of Stake (PoS): Uses a PoS consensus algorithm that makes the network more energy efficient.
Modularity: The project is developed based on scientific research and proven methods.
Scalability: The platform is focused on high performance and scalability.
Bottom line:
Bitcoin remains the most well-known and accepted cryptocurrency, but altcoins offer unique opportunities and advantages. Ethereum with its smart contracts, Litecoin with fast transactions, Ripple for international transfers, and Cardano with its scientific approach - each of them has its own characteristics and applications. The choice of cryptocurrency depends on the specific needs and goals of the user.