6 Years ago on this very day Bitcoin was launched. Satoshi Nakamoto set out to deliver and in this dream he launched a complete currency that stands strong (ish) to this day. Having risen from values of 1 cent a coin the cryptocurrency now stands at $300 +. Bitcoin may have started out as a simple experiment or it may be the vision of a cashless and decentralized future economy.
Bitcoin has helped bring into existence a huge variety of other cryptocurrencies. From the likes of PayCoin to revolutionaries such as LiteCoin. With cryptology taking leaps and bounds lets have a look at 5 of the cryptocoins that started of the altcoin rush.
The Coin Lineup
1) RippleCoin was one of the first coins to come into existence after the launch of Bitcoin. Although Ripple was born 2 years after Bitcoin the inception of Ripple provided a new spin on crypto. The RippleCoin combined all of the positives of Bitcoin, such as its financial capabilities and flexibility, and introduced a more powerful financial management. With a complete financial plan outlined by Ripple, the coin boasted the concept of an international economy.
2)Next in the time line of Crypto, NameCoin was launched. On the 18th of April 2011 the genesis block was mined and the start of one of the first cryptocoins was sealed. NameCoin introduced the first alternative chain and with merged mining in place the coin has become one of the most popular cryptocurrencies of the present. Whilst it may not have one of the highest market caps the coin has boasted a dedicated development team and an awesome community definitely one to check out.
3) Next comes a coin which has fallen under the shadows. Tenebrix, a name you may not be familiar with but is one that is particularly revolutionary. Named the first every scrypt coin the coin has given way to countless other coins based on the revolutionary algorithm. ASIC proof and future proof the coin is still well and alive since its early launch of 25 September 2011. It may be ancient but the “cpu friendly and gpu hostile” currency maintains a full functioning network so if you want to play around with the currency then be my guest.
4) Not soon after the launch of Tenebrix, Litecoin launched, Labeled as a Tenebrix coin the coin the LiteCoin was the first coin to propel the scrypt algorithm to new heights. Launched on the 7th of October the coin has one of the highest present market caps of over $80 million. Scrypt has come a long way but Litcoin has established itself as a spiritual successor.
5)Finally, on our journey we come across ByteCent. The currency may seem just another altcoin but it was the first ever one to put into use the cryptonight algorithm. The coin has fallen prey of time, as the technology improved so did the altcoin markets. The cryptonight algorithm first pioneered by ByteCent has been left as the legacy of the coin.
The list was built using a few parameters but is designed to inform you of 5 of the earliest developed cryptocoins. Of Course favorites such as DogeCoin, DarkCoin and PeerCoin are in the top ten. Have a favorite coin that didn’t make it into the list, then use the comments below and tell us why it should deserves a spot in the top 5. As always stay tuned to BTCFeed for the exclusive Bitcoin news. Follow us on twitter @btc_feed