There are couple of bitcoin-alternatives on the current market. Bitcoin-alternatives use a different protocol then bitcoin is using. The most common bitcoin-alternatives are Ethereum, Litecoin, Cardano and Polkadot. Bitcoin-alternatives are cryptocurrencies like bitcoins. Some bitcoin-alternatives have ventured into physical markets, but the majority remain entirely intangible.

The most valuable bitcoin-alternative is Ethereum with a value of 3.310 ETH/USD (8.9.2021). The value of Bitcoin is 1400% higher. Ethereum was launched in 2014 by Charlie Lee, who originally created it to address academic research and ethical concerns about crypto currencies. Ethereum is a blockchain-enabled cryptocurrency that operates through the Ethereum network. Like other cryptocurrencies, Ethereum has some serious drawbacks. The first drawback is that once you have spent thousands of dollars on Ethereum, you will want to sell your Ether back to the network asap. This can be a problem if you have a large amount of Ether but small trading volume. The second drawback is that the network effects of Ethereum are not very noticeable until much later in the game. There’s no incentive to keep mining Ethereum because the rewards are small.

Next to the serious bitcoin-alternatives like Ethereum, there are also bitcoin-alternatives with low value called Trash coins. The most popular Trash coin is the Dogecoin. Dogecoin have a current value of under 0,25 USD (8.9.2021). Dogecoins are often used as tip on Streaming platforms from the community to support creators.