Cryptocurrency is a future of digital world and is becoming a successful present for leading brands. Cryptocurrency is a form of digital currency which is managed and created through the use of an advanced technology of encryption known as Cryptography. This technology made a leap in the real world through Bitcoin when the academic concepts were brought into reality in 2009. With the growth in value with growing investors in subsequent years, the concept caught the eyes of huge brands in 2013 and that was the time when it crossed all the raised stakes with the value of 266$ per bitcoin after surging 10 folds in the preceding months. But the rise did not see the peak for long and started falling due to the debate, which occurred in order to compare the future of cryptocurrency in future and specially with regards to bitcoin.
Many economic analysts have predicted that as soon as institutional money enters the market one can witness huge changes in the cryptocurrency. It is also predicted that the crypto might float into Nasdaq which could be a great cause to add credibility into blockchain which can also be used as an alternative to all the conventional currencies. It is believed that cryptocurrency does not require much and just a verified exchange traded fund. This verification makes it easy for the people to invest in the Bitcoin although there might be some additional requirements that one needs to fulfil before investing in the funds.
There are few alternatives present in the market which might take the position of Bitcoin in the coming future:
Litecoin: This cryptocurrency is considered as the biggest rival of Bitcoin in the present times with the increasing value of the currency it would not take much time to beat the Bitcoin and raise its own stakes. The currency was founded in October 2011 and is considered as silver to Bitcoin’s gold according to the founder of currency Charles Lee. The biggest trouble arises for the bitcoin with the maximum limit which is four times the Bitcoin for Litecoin and that is eighty-four million with transaction processing time of 2.5 minutes which is about one-fourth of Bitcoin and hence has been over coming many drawbacks with time of its leading viral.
Ripple: Launched by OpenCoin, Ripple might stand high as the biggest competitor to Bitcoin anytime soon claimed by the founder Chris Larsen and since 2012 the company has kept what it has said. Ripple is not just a mere currency but also has emerged as the mode of payment too which improved the feasibility and applications of the technology.