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.
Litecoin: This cryptocurrency is based on an open source global payment network that is not controlled by any central authority. With a market cap of $10.6 billion, Litecoin is currently priced at $194.85 dollars currently.
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.