Bitcoin saw massive growth after the 2016 halving.
With the cryptocurrency world gaining more and more mainstream attention, it is just natural that a lot of people take interest in this topic. But naturally, as time goes on, people start wondering — what is the next Bitcoin? Or in other words — what is the next big cryptocurrency?
Those are the exact questions that I will try to answer in this tutorial. Bitcoin was first released into the general public back in Needless to say, because it was such a new and exciting concept, it quickly gained notoriety and interest.
As the years went by, Bitcoin gained more and more traction. This would have been a historical event for the coin and the cryptocurrency community in general. What are the characteristics of the next big cryptocurrency? It is fair to try and guess what is the next Bitcoin by looking at the prices and the market trends growth trends , but those are not the main aspects to be looking for. There is a golden rule in the crypto communities around the world: if a cryptocurrency is useful, it will overcome any struggles and will continue to grow.
It is a fair assumption: if something is both scarce AND useful, people will try to acquire it. Out of the current or so cryptocurrencies that exist, there are quite a few that are flashy and pricey, yet they lack any specific usefulness.
Over the years, these currencies tend to fade out and be forgotten. For cryptocurrencies, there are a lot of factors that determine their usefulness. They should also be easily available and fast.
They should simply be available via the main marketplaces and trading sites on the internet. A good and potential-possessing crypto coin should also be open source. Even though Ripple tends to be a huge exception in this, decentralized cryptocurrencies are usually the ones that come on top of centralized ones. When you think about what is the next Bitcoin and try to google for the answer, there are usually three big names that pop up.
In most cases, people want to know the answers to these three questions:. Litecoin , Ripple and Ethereum — according to popular opinion, these are the three main contenders to become the next big cryptocurrency. Litecoin was created and developed back in It is considered to be one of the original altcoins. Litecoin is very popular and respected for a couple of big reasons. First of all, Litecoin is a direct spin-off of Bitcoin. The technical parameters that these two coins share are almost identical.
Having said that, Litecoin is famous for being four times faster than Bitcoin. Truth be told, this is a huge deal when it comes to transaction speeds and hash rates. So is Litecoin the next Bitcoin simply because of this reason? Before we start, fun fact: Ripple is the name of the company that created the coin, XRP. Ripple is interesting in that it is the only cryptocurrency on this list that is centralized — that means that it belongs to a single company and cannot be modified or changed by third parties.
Ripple is designed for daily usages, which means that it has much faster transaction speeds and much cheaper rates. Additionally, the main focus of the coin was original to be used by banks — this means that Ripple can avoid a lot of regulations and other checks that other cryptocurrencies have to go through. This allows HUGE mobility and at one point has even managed to briefly place Ripple in the 2 spot on the crypto market, right after Bitcoin. In Ripple the next Bitcoin?
Probably the most well-known cryptocurrency on this list, Ethereum has been the biggest contender to Bitcoin for the number one spot in the market.
The main point that people bring up is that while Bitcoin is just a cryptocurrency, Ethereum is a whole ledger of technology. Ethereum lets other Ethereum-network-based cryptocurrencies build upon and develop themselves on the network that this technology provides. In this sense, you could say that if Bitcoin was a plank, Ethereum is the house.
Bitcoin has a very interesting history. After more than eight years of fluctuation, Bitcoin finally managed to skyrocket into the mainstream. With doing so, it opened the doors for many other cryptocurrencies as well. People often ask: is Litecoin next Bitcoin? Is Ethereum next Bitcoin? Is Ripple next Bitcoin? Or is insert any cryptocurrency here the next big thing in the crypto world? Truth be told, no one can know the answer for sure. The cryptocurrency market is a very volatile place — at any given point in time, something gigantic might happen.
It is, however, possible to speculate. There are a lot of such speculations circling the internet. Some of them have merit, others are blind guesses. If you want to do some speculation yourself, always remember one simple rule:. People place their speculations on various things — price, history, events within the crypto market, etc. The three cryptos mentioned in this tutorial are useful in their respective ways, but there are a lot of other coins in the market that are also very attractive in their own set of ways.
If you want to speculate, do your research and keep a leveled head about it — the cryptocurrency world can sometimes be a very chaotic place. If you do decide to try and answer what is the next Bitcoin yourself, I wish you the best of luck! Save my name, email, and website in this browser for the next time I comment.
Interesting thoughts of the author on the future of Bitcoin. The author raises the question of the future existence of this cryptocurrency and also considers the criteria that the cryptocurrency, which will appear after Bitcoin, must meet. Error, failed to subscribe. If problem persists contact site administrator. Read more. All courses Interactive courses Sign up Free. You may also like. December 11th, Click here to post a comment. Our TOP 5 Reads: 1. What is Litecoin? The Complete Litecoin Review.
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The Final Frontier
With the cryptocurrency world gaining more and more mainstream attention, it is just natural that a lot of people take interest in this topic. But naturally, as time goes on, people start wondering — what is the next Bitcoin? Or in other words — what is the next big cryptocurrency? Those are the exact questions that I will try to answer in this tutorial. Bitcoin was first released into the general public back in Needless to say, because it was such a new and exciting concept, it quickly gained notoriety and interest.
Ethereum looks like sh#t
Ethereum lets other Ethereum-network-based cryptocurrencies build upon and develop themselves on the network that this technology provides. No plan survives contact with the enemy. And they can easily get lost or damaged by the elements. Everyone will pay you gladly. Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer-grade. The idea came straight from the Austrian school of economics with a pinch of left-wing anarchism thrown in for good measure — offering individual liberty and a way to avoid the grasp of government, while sidestepping corporate power and the banking. What happens when quantum computers come out and we need to completely update the basic protocols that underscore the system? The fourth major reason people screw up predictions is because they mistake their opinion for reality. Gamifying the Delivery of Money. Your Practice. There is a golden rule in the crypto communities around the world: if a cryptocurrency is useful, it will overcome any struggles and will continue to grow.