What’s the difference?

[Mlc]

Some coins, like Bitcoin, Dash and Monero, are created in a process called “mining” which involves using powerful computers to solve complicated cryptographic puzzles. When a puzzle is solved, the system rewards the winning “miner” with coins (bitcoins, dash coins, etc.). The miner can then sell the coins in the market. 

Other coins, like NEM (XEM), have other types of algorithms that don’t require powerful hardware. And then there are currencies such as ripple and IOTA that can’t be mined – they’re produced by an organization that stands behind the currency. When it comes to spending, Bitcoin is the cryptocurrency that enjoys the widest acceptance among merchants and service providers. Others, like Litecoin and Dash, are working on giving their holders new spending possibilities. But daily use – buying coffee, clothes and so on – is not the primary goal of some coins. Ether, for example, is meant to be used to pay for the services of the blockchain-based Ethereum platform, to create and use applications on it. Other important differences are the privacy and transaction speed that a cryptocurrency offers. At the moment, transactions in Bitcoin are slower and less anonymous, than, say, those in dash or monero. But Bitcoin could add features to increase its privacy and speed in the future, especially since it currently boasts the biggest developer ecosystem.

Most crypto coins have a purpose behind the initial coin and some of the names are reflected in them such as ,  Litecoin , made for speed and  cheap transactions fees making it quite popular. Also know as an alt coin.

Then there is ethereum , It’s  strengths Are built-in programming language lets developers write computer programs, called smart contracts, that run on the blockchain. Most initial coin offerings (ICOs) so far have been based on Ethereum smart contracts. The downside: Ethereum also uses proof of work, making it relatively slow and energy-hungry. Many early smart contracts are vulnerable to hacking, and the field of smart-contract security is immature.

Bitcoin cash, The creators of this currency, the product of a “hard fork” of Bitcoin, tweaked Bitcoin’s software to handle larger transaction volumes.The downside: Critics say Bitcoin Cash is too centralized—a handful of miners create most of the coins.

Another is ripple it’s  strengths are Ripple says its crypto-token, called XRP, can be a “bridge currency” that financial institutions use to settle cross-border payments faster and more cheaply than they do now. It uses a novel consensus protocol that allows for much faster transactions than Bitcoin and Ethereum. The downside: Since Ripple, a privately owned company, has so much control over the system, purists say XRP isn’t decentralized enough—in contrast with Bitcoin, which anybody can mine.

There are literally 1000s of diffrent crypto currency coins out there and new ones appearing all the time , these were just a handfull of the most popular one. I recommend crypto enthusiast research each coin they choose to use or invest in. That way you can be sure to get the most out of you money.

Anthing to add ? ❤️