When it comes to cryptocurrencies, the first thing that comes to mind is the name “Bitcoin”.
Bitcoin is the first-ever decentralized cryptocurrency in the world. A cryptocurrency is a kind of digital asset that uses public-key cryptography to record, sign and send transactions over the blockchain – all done without the need of a central authority overseeing the process.
While Bitcoin continues to dominate the world of cryptocurrencies in terms of popularity, user base and market capitalization, there are other virtual currencies, such as Ethereum, which are helping to create decentralized financial (DeFi) systems.
The cryptocurrencies that were modeled after Bitcoin are collectively known as altcoins, and as some people prefer to say it, shitcoins, and have oftentimes attempted to present themselves as revised or improved versions of Bitcoin. Some altcoins have been promoted as having newer features than Bitcoin, such as being able to handle more transactions per second or utilize various consensus algorithms such as proof of stake. Even though some of these modified cryptocurrencies may have some impressive features that Bitcoin does not possess, matching the level of security that Bitcoin’s networks achieve largely has yet to be seen by an altcoin.
Below is a list of the top 10 cryptocurrencies with a brighter future than Bitcoin in 2023, according to a post from Analytics Insight.
- Binance Coin
- Shiba Inu
Cryptocurrencies continue to gain popularity for providing seamless transaction payments within a very short period of time.
The price of Bitcoin reached as high as $25,191.60 on Monday, August 15.