Cryptocurrencies were developed to keep government involvement, control and manipulation away from the trading process. As the method of exchange through cryptocurrency gets bestowed with more and more popularity, various new cryptocurrencies have started stepping in view.
All the currency models that came forth after bitcoin were recognized by the name of altcoins. Some of these currencies have been modified to offer additional features, but the level of security associated with bitcoin is unmatched.
In Pakistan, not only bitcoin is becoming increasingly popular but other currencies like Etehreum and usdt are also gaining prominence. There are several USDT exchangers in Pakistan, along with those that deal in Bitcoin, Ethereum, and other crypto currencies.
Below we will cover some of the most popular cryptocurrencies after bitcoin. Although the list is not comprehensive, considering that the number defining the types of cryptocurrency has now reached a four-digit figure. However, some basic information about the most commonly heard cryptocurrencies is given below.
The most popular after bitcoin, Ethereum is a great alternative to bitcoin. It is a software platform that ensures decentralization. Decentralized applications and smart contracts are enabled within this platform to drive the process without interference from a third party. The meddling of government, frauds and downtime is not allowed within this platform.
Ether runs the application on Ethereum, acting like a vehicle on which you can travel around on the Ethereum platform. Developers and investors looking to run applications or make purchases of other digital currencies use this platform to extract benefits.
This cryptocurrency was launched in 2011 and was one of those mentioned to have a close resemblance with bitcoin. A global payment network that is open-source is the principle on which Litecoin works. It does not allow control of a central command or authority. It uses a work-proof known as “scrypt”. Decoding the scrypt is possible with the help of consumer-grade CPUs. A number of merchants accept Litecoin due to its faster rate of block generation.
Buying usdt in Pakistan has become convenient with the passage of time. It has become the first cryptocurrency to be called as “stable coin”. Stablecoin is the name given to cryptocurrencies that generate their value in market from another currency or external reference points in order to reduce the element of liquidity. Price fluctuations create volatility and that is why, stablecoins like tether smooth out these fluctuations to bring in cautious users as well. The value if USDT is directly related to the price of US dollar.
If you are looking for a platform allowing buying and selling of usdt in Pakistan, PKR2Dollar is a great place to start from.
A group of engineers, mathematicians and experts of cryptocurrency huddled together to bring in a research-based proof-of-stake cryptocurrency. One of the founding members of ethereum separated himself from ethereum platform due to some disagreements and created a new currency called Cardano.
Research based on close revision od data and several sessions of experimentation resulted in the creation of this new currency. Its blockchain is said to be better than that of ethereum and have been called as the killer of ethereum.
Polkadot was developed with the objective of generating interoperability between different blockchains. Blockchains with or without permission can be connected through Polkadot protocol. The mention-worthy component of polkadot is its interoperability across various networks allowed by its relay chains. For cases of specific use, parallel blockchains are used containing their own native tokens.
Stellar allows larger transactions for financial institutes with the help of an open blockchain network. In other words, enterprise solutions are handed over to these institutions by Stellar. With minimal costs, transactions between banks are operable and investments are possible instantaneously. In any other case, such transactions take days and involve intermediaries but stellar provide similar services without involvement from an intermediary.
Chainlink reduces gaps between smart contracts. Whether its a smart contract on Ethereum or any data outside of that platform, Chainlink has the ability to bridge the gap. It is an oracle network practicing decentralization. The ability to connect to an outside application is not found in blockchains themselves. Communication with data residing outside is possible through decentralized oracles in Chainlink. This way, execution is possible for those contracts with which Ethereum cannot directly connect to.
These are just few of the thousands of cryptocurrencies available today. Exchange services for all currencies are widely available and accessible throughout the world and Pakistan. Selling of usdt in Pakistan and some other currencies mentioned in this blog can be done through platforms like PKR2Dollar. Our services are impeccable and known across the country for prompt exchange of digital currencies.