FileCoin

In-development apps that might someday change the way we use the internet. Sorted from most promise to least.

Bitcoin has recently become a viral topic in the media and can often be seen as a trending topic of discussion on social networks. But in case you haven't stumbled across Bitcoin, I'll briefly explain what Bitcoin is and why its importance and influence is on the rise. Then we can look at some alternatives to Bitcoin, and how they are different. Bitcoin is a cryptocurrency, a digital asset and represent value in a digital form — an attempt to be an alternative to traditional fiat currencies. One of the defining characteristics of Bitcoin, and most cryptocurrencies, is that they are decentralized. What does this mean? Well, for a cryptocurrency, being decentralized means that there is no single governing body that oversees or controls the asset. This means that anyone can use it, it is open to everyone and is global (unless, of course, your local laws impose restrictions on Bitcoin, but Bitcoin itself does not impose restrictions). The technical details of Bitcoin and other cryptocurrencies work can be rather dense. It would take more than this short post to explain, in detail, how it all works and what it all means. Because of that, and to avoid confusion, I have decided not to discuss the technical details in this short post. But I do encourage you, if you're curious or interested, to check out the links I've included at the bottom of this post. Bitcoin has dramatically increased in popularity and usage since it was first released in 2009. Since then, with Bitcoin's rise in usage, other cryptocurrencies have been created (many other ones, approximately 1,600). Some of them have been based off of Bitcoin directly and are derivatives of Bitcoin, others are only similar in that they are themselves digital currencies or cryptocurrencies, some using a different encryption algorithm or intended to serve a different purpose and use-case. In any case, there is no doubt that there is a lot of attention being devoted to cryptocurrencies and decentralized currencies. Now that Bitcoin has recently risen to over $15,000 per Bitcoin, more people are curious and eager to see if there are other alternatives that may see a similar increase in value and popularity. With so many cryptocurrencies that exist, I found that it may be helpful to condense the information into a list. This list contains some of the alternatives to Bitcoin that are currently on the rise in popularity and use. Please note, the value per coin of the cryptocurrencies below varies significantly. Their value (and potential value) is dictated by more than just popularity. Wikipedia Articles: Cryptocurrency Blockchain Proof-of-Work based systems Bitcoin Wiki Official Bitcoin Website - How Bitcoin Works