Home Bitcoin Bitcoin is passé: these are the cryptocurrencies to look at in 2018

Bitcoin is passé: these are the cryptocurrencies to look at in 2018

SHARE

Bitcoin had a monumental 2017, with its price rising by more than 1,400pc over the past year. However, it was far from the best-performing cryptocurrency.

Of the 10 most important digital currencies by total value at the time of writing, six have been around for more than a year. All six have experienced price rises that eclipse Bitcoin, ranging from 2,870pc for Monero to 31,560pc for NEM.

As the first blockchain-based cryptocurrency, Bitcoin contains many flaws that later rivals have aimed to iron out. Transaction numbers per second are severely limited, “mining” – producing – Bitcoin consumes huge amounts of energy, and the transaction fees required for a payment to be processed quickly have been spiraling out of control.

All of these problems place doubt on Bitcoin’s ability to become a widely adopted means of payment, and ultimately on its value. 

Gary McFarlane, a cryptocurrency analyst…

This article was curated from Google News. You can read the original article here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here