While bitcoin has remained a topic of fierce debate, here are some other digital currencies inspired by Bitcoin which are gaining attention of investors:
Ethereum: With a current market cap of $106.9 billion, Ethereum is the second most popular cryptocurrency after Bitcoin. Currently one Ethereum is priced at $1,101.5.
Ripple: The rapid rise of Ripple has attracted attention in recent weeks. At the start of 2018, its market capitalisation hit more than $100 billion. Currently one Ripple is priced at $1.43. The key difference between Ripple and Bitcoin is that Ripple is not "mined." The digital currency is controlled by a San Francisco-based company. It creates the currency and releases new batches periodically.
Cardano: This currency claims to be the first blockchain platform to evolve out of a scientific philosophy. Cardano currently has a market cap of $16.5 billion and is priced at $0.63 per Cardano.
With the meteoric rise of Bitcoin, some countries are developing their own digital currencies, with Dubai launching its first official cryptocurrency Emcash, last year, and the Chinese central bank also reportedly developing its own digital currency after having banned the trading of Bitcoin.
Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.