ALTCOIN - 2
An altcoin is a cryptocurrency alternative to Bitcoin. It means an alternative coin. The first altcoin was launched in 2011. Nearly 2000 altcoins are available nowadays.
On the market, everyone is free to launch a cryptocurrency. Sometimes they think or pretend to show some offers, but typically these are cryptocurrency or reward tokens for specific platforms.
Competition between these two (bitcoin and altcoin) doesn’t hurt bitcoin because bitcoin pushes cryptocurrency space forward, whereas altcoins often come with unique value propositions. The top 10 altcoins are written below in short.
Litecoin(TLC):
To decentralized digital coins, Litecoin was invented in 2011 with an offer to transact faster, with lower fees and a higher supply of coins.
Ethereum(ETH):
A second-generation decentralized digital currency named Ethereum is known as “the world’s computer”. It is used to execute smart contracts and to fund initial coin offerings.
EOS Token(EOS):
Another second-generation blockchain and semi-decentralized digital currency EOS competes with Ethereum. It is faster and more scalable than Ethereum.
Bitcoin cash(BCH):
Bitcoin cash was named “Real Bitcoin” by its founder and was initiated in the summer of 2017. it tackles bitcoin’s slow transition time and high energy consumption.
Ripple(XRP):
Ripple is used by ripple labs as a source of liquidity for cross-border real-time fiat payment, so it is known as a “Banksters Coin”. It is the fastest and more scalable.
Tether(USDT):
It is a stable digital asset that is tied to make a ratio of 1:1 with USD. The convenience of blockchain technology and the stability of fiat currencies are attached to it. It is highly centralized, and anytime transactions can be halted.
TRON(TRX):
Scalability, high availability, and high-throughput applications are offered by TRON. Classification of it can be a digital currency and utility token.
Monero(XMR):
To make untraceable payments, Monero is used, which is a decentralized privacy-oriented cryptocurrency. It was launched in 2014.
Cardano(ADA):
A third-generation cryptocurrency, able to power smart contracts, DAaps, side chains, and metadata, is termed, Cardano.
IOTA(MIOTA):
A novel project for the future internet of things(IoT) IOTA. Feeless and fast machine-to-machine transactions between IoT devices are done by it.
These are all popular altcoins nowadays.
~ Regards,
VEIGO (Community Mod)
Very interesting content👍🏼
Keep it up 🥂