Come and learn with me about ALTCOIN

in Project HOPElast month

Among the things that we must know when we enter this platform is the management of our funds, which means each of those things that we find in the Wallet. We have starting with Steem the main currency of this platform, the Altcoin, later we have the SteemPower, which is the one that gives the value to our account, the more we have will be more in benefit that we leave in who we vote and at the same time what comes to us as curatorship, and then we have Steem Dollar, which is called StableCoin.

You're probably thinking, what's the point of having two coins? If one would be enough, Steem which is the one with the name of the blockchain and is what becomes Power of Attorney. But, each one has its importance within the blockchain and they play a role within the Cryptocurrencies market.

Keep reading, this is what I've come to clarify.

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To understand why there are basically two currencies, we need to know the concepts and understand the function of each one, let's start with

STEEM

It's an altcoin, but what is it?, let's define it:

"The word altcoin is an acronym that comes from the words "alternative" and "coin". This term is used to refer to the Bitcoin alternative digital currencies, that is to say cryptosystems that are not Bitcoin..” Fuente

To make it better understood, let's do an imagination exercise:

A group of people meet with an idea in mind, a project that consists of allowing people to create a blog and make their publications on it and monetize from this. Of course, this is not a new idea, it has been done for a long time. But, previously, what a person could earn from their blog came from the amount of publicity they can make through it, of course, it still happens, it's not something that stopped working this way. The only thing is that in this new blog project it is not a question of people only being able to win while advertising, but rather, that the reward comes from the votes that other users might cast based on the taste that they have just seen and of course the voting power that the person who cast the vote has, and also supported by a Blockchain.

The crypto currency of this project will be an altcoin, called Steem, with its own blockchain, of course.

So, to be more specific, altercoins are all those cryptocurrencies that are not Bitcoin, and that support or can be used as a means of payment in a given project. One characteristic of them, and of which most altcoins enjoy, is the volatility of their price. This is something that usually keeps many investors away from this type of project, to try to combat this feature the so called STABLECOINS were created...in this particular case, the STEEMDOLLAR, is what I will talk about in the next publication.

So don't despair he, he, he

I'll be back soon with more information, I hope it's clear what I've brought to share.

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This is really nice, we have new users come into this platform daily and are definitely looking for someone to guide them but unfortunately they find none and they just get discouraged.

Thank you for your appreciation @frederickbangs.
That's the idea, I particularly made a lot of mistakes at first. I try to make other people have fewer setbacks, at least I try to give certain tools... a little bit of what I've learned

It is a brilliant idea to share what we have learnt with others as this will help them avoid the mistakes we made.

It is a brilliant idea to share what we have learnt with others as this will help them avoid the mistakes we made

The truth is that I really enjoyed reading this post, to be honest I am still understanding several things about how this platform works, especially with the issues of healing and delegation, I look forward to the following parts of this post. This has helped me a lot, again thank you very much.

I really love the way you explained what alt coins is all about using the Steemit platform as a great example since it's actually something happening around us and it's something we experience most of the time here on Steemit since everyone earns steem, SBD and SP for their activities on the platform.

The only thing is that in this new blog project it is not a question of people only being able to win while advertising, but rather, that the reward comes from the votes that other users might cast based on the taste that they have just seen and of course the voting power that the person who cast the vote has, and also supported by a Blockchain.

On a serious note, Steemit was actually the first social media and blogging platform that I've ever come across rewarding users for their activities on the platform which makes it very interesting. The fact that the quality of one's upvote depends on the steem power attained by the upvoter seems to be the system or practice across all cloners of Steemit such as weku, Whaleshare, scorum and many others.
I recently came across a platform which doesn't use this system of upvote but it rather makes use of the content creator level since every level is accustomed to their specific point they can earn whenever they are upvoted.

Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕❤️💖💕❤️💕💕💖

Publicación curada manualmente por Club12

¡¡¡Vamos por más!!!

Vaya @club12, ustedes siguen muy activos en ambas plataformas, apoyando a tantos.
Gracias