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If bitcoin is gold what is silver?

Bitcoin has been compared to gold as a store of value and a safe haven asset. However, if bitcoin is gold, what is silver in the cryptocurrency world? In this article, we’ll discuss the possible candidates for the title of “silver” in the crypto universe.LitecoinLitecoin is often referred to as the “silver to bitcoin’s gold”….

Bitcoin has been compared to gold as a store of value and a safe haven asset. However, if bitcoin is gold, what is silver in the cryptocurrency world? In this article, we’ll discuss the possible candidates for the title of “silver” in the crypto universe.

Litecoin

Litecoin is often referred to as the “silver to bitcoin’s gold”. It was created in 2011 by Charlie Lee, a former Google engineer. Litecoin is based on the same code as bitcoin but has some key differences. It has a faster block generation time of 2.5 minutes, compared to bitcoin’s 10 minutes, which means transactions are processed faster. Litecoin also has a higher maximum supply of 84 million coins, compared to bitcoin’s 21 million. These differences make Litecoin more suitable for everyday use, as it can handle a higher volume of transactions at a lower cost.

Litecoin has been around for over a decade and has established itself as one of the top cryptocurrencies in terms of market capitalization. It has a loyal following and is often used as a testbed for new technologies that can be implemented on the bitcoin network.

Ethereum

Ethereum is the second-largest cryptocurrency by market capitalization, after bitcoin. It was created in 2015 by Vitalik Buterin, a Russian-Canadian programmer. Ethereum is not just a cryptocurrency but also a platform for building decentralized applications (dapps) and smart contracts. Smart contracts are self-executing contracts that can automate the execution of agreements between parties.

Ethereum has a higher transaction throughput than bitcoin and is more flexible in terms of what can be built on its platform. This flexibility has made it a popular choice for developers who want to create dapps or launch their own cryptocurrencies. Ethereum also has a more active development community and is constantly evolving.

Bitcoin Cash

Bitcoin Cash was created in 2017 as a result of a hard fork in the bitcoin blockchain. It was created to address some of the scalability issues that bitcoin was facing at the time. Bitcoin Cash has a larger block size limit of 8 megabytes, compared to bitcoin’s 1 megabyte, which means it can handle more transactions per second. Bitcoin Cash also has lower transaction fees than bitcoin, which makes it more suitable for everyday use.

Bitcoin Cash has been controversial since its creation, with some accusing its supporters of trying to hijack the bitcoin brand. However, it has established itself as a separate cryptocurrency with a loyal following.

Conclusion

While bitcoin may be the “gold” of the cryptocurrency world, there are several contenders for the title of “silver”. Litecoin, Ethereum, and Bitcoin Cash are all popular cryptocurrencies with their own unique features and use cases. Ultimately, the choice of which cryptocurrency to use will depend on the user’s needs and preferences.

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