Cryptocurrency markets are turning red once again, with Bitcoin trading below $8,000 and suffering from more downward selling pressure.
An altcoin, or alternative coin, is pretty self-explanatory. An altcoin is every cryptocurrency alternative to Bitcoin – the first one. Altcoins may differ from Bitcoin in every possible way, such as mining mechanisms, coin-distribution methods or the ability to create decentralized applications.
Although Bitcoin is innovative and massively influential, it has some problems that developers are trying to fix with their own products. There is an altcoin that makes faster transactions, there is an altcoin that is less volatile, there is an altcoin that is more private and so on. There are more than one and a half thousand altcoins on the market at the day this text is written, according to coinmarketcap.com. Altcoins are playing a very important role by expanding boundaries of blockchain possibilities and the scope of applications.
- Fidelity Investments Fully Rolls Out Crypto Custody Service, Exec Says
- Jamie Dimon About Libra: ‘A Neat Idea That Will Never Happen’
- Kik Messaging App Now Has New Owner, Will Continue Work on Kin Token
- Craig Wright: Either I’m Satoshi Nakamoto, or He Plagiarized Me
- Price Analysis 18/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, LEO