There are over 100 cryptocurrencies out there, so let’s put them in categories.
As the first of the kind, Bitcoin maintains by distant the largest village base, developer team, marketplace value, and network crush power.
Coins with technical tweaks
A number of developers support the altogether Bitcoin model, but felt there were technical improvements that could be made to urge the system. Litecoin uses a different hashing algorithm dictated to be faster and more efficient. Peercoin (formerly PPcoin) distributes newly combined coins in a sligthly different way and has additional facilities designed to urge opposite attacks. Primecoin creates use of the network appetite to do a more useful form of calculation. Luckycoin randomises the prerogative for mining a block. Blakecoin uses a different hashing algorithm to secure the network.
We might embody Nxt here, a cryptocurrency with a totally different formula bottom and remuneration mechanism. All Nxt coins were allocated to plan backers at the beginning, so there is no “mining” in the clarity we see on most other coins.
Coins with different domestic underpinning
While Bitcoin and most altcoins are built around libertarian goals — singular income supply and decentralization — some have a different emphasis. Freicoin is designed to evenly remove value over time (known as demurrage), so that it circulates faster and is unsuited for hoarding, and is more actively managed by a executive organisation. Solarcoin is designed to prerogative renewable appetite producers, and is also mainly managed.
Coins which perform a different function
A number of programs look and feel like the cryptocurrencies above, but are designed to do something else rather than be a currency. Namecoin is a distributed DNS system, designed to act as an residence book for the Internet which would be reduction exposed to domestic conflict or mismanagement. Twister is dictated to be a decentralised Twitter.
We might embody XRP here, a cryptocurrency local to the Ripple network designed to act as a kind of overpass for exchange in other currencies, and which also used to fight spam transactions. Likewise, Mastercoin custom is designed to intercede the existing Bitcoin custom and user-generated currencies. It is dictated to be a bottom on which anyone can build their possess currency.
Coins which perform any function
Ethereum is dictated to be a full scripting height built around a blockchain, permitting all sorts of programmed functions, such as intelligent contracts etc.
Novelty and celebrity coins
Dogecoin is a Luckycoin counterpart built around an Internet meme. Coinye was an try to do something similar, using references to musician Kanye West. Maxcoin is built mostly around the recognition of Russia Today presenter Max Keiser, while Stacycoin is related to his mother and co-presenter Stacy Herbert.
Alongside all these there are dozens of coins which offer only teenager parameter changes, and are mostly dictated as money-making schemes.