Since the inception of bitcoin in 2009, thousands more have sprung up with each of them having their distinctiveness. Bitcoin is often referred to as the king of cryptocurrency each of the other thousands of cryptocurrencies falls under the class of altcoins; be it Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Monero (XMR), EOS (EOS), TRON (TRX), etc.
All altcoins have their uniqueness in the sense of how they are mined, their nature (whether or centralized or decentralized), underlying technology, speed of transaction, coin distribution mechanism, etc. Although bitcoin is always used as the yardstick when analyzing an altcoin, some altcoins outshine bitcoin in certain specs. Several altcoins are developed on Bitcoin’s framework.
Altcoins are sub-divided into three categories namely; stablecoins, utility tokens, and security tokens. For example, stablecoins such as Tether (USDT), Binance Coin (BNB), Gemini USD (GUSD), USD Coin (USDC), etc. are known to be less volatile than Bitcoin because they are pegged to fiat currencies. However, some altcoins fall under more than one of these categories. You will find more information in altcoin news category.
Altcoins are getting thumbs up from different quarters for playing a significant role in the expansion of boundaries of blockchain adoption and applications. For example, Ethereum is known for its robust blockchain that enables faster transaction time as well as the creation of decentralized applications (dApps). At the time of launch, most altcoins sell themselves as better alternatives to existing ones and usually attempt to improve on the setbacks of known altcoins.
According to CoinMarketCap, there are over five thousand digital currencies in April 2020 although BTC has a staggering 64% dominance in the crypto market. As a crypto investor and enthusiast, stay tuned to coinspeaker.com to get the latest altcoins news around the world to keep you updated and geared up in the crypto space.
The governance of MakerDAO has made a bold decision to modify the terms of using Wrapped Bitcoin (wBTC) as security for new loans.
Sahil Arora is said to have made around $3 million from celebrity-backed meme coins this year. This figure contradicts earlier reports suggesting $30 million.
French authorities have arrested multiple suspects in connection with the devastating June 13 hack of the Holograph protocol, an Omnichain tokenization platform co-founded by Jeremy Kerbel.
Global crypto adoption surge drives demand for stable digital assets, with tokenized US Treasurys projected to hit $3B in 2024.
Circle CEO Jeremy Allaire has announced a new feature for iPhone users: they will soon be able to make payments with USDC through their phones.
Binance, the world’s largest cryptocurrency exchange with over 200 million users, has resumed operations in India after being forced to leave the market in January due to regulatory challenges.
Senate Majority Leader Chuck Schumer said that a bipartisan bill on crypto regulation could be passed by the Senate before year-end.
Maker (MKR) has seen a 7.47% increase in its value and a noticeable uptick in network activity following the announcement of Grayscale’s new MakerDAO Investment Trust.
MetaMask, a leading Web3 wallet provider developed by ConsenSys, has announced the launch of its new blockchain-based debit card. This card is built in collaboration with global payments giant Mastercard and crypto payments firm Baanx.
WazirX is migrating its assets from Liminal to new multisig wallets as part of a strategic effort to improve security and prevent future incidents. It plans to publish a list of the new wallets once the migration is complete, enhancing transparency for its users.
Hamster Kombat shares updates on its innovative Playground section, a prototype for its future entertainment ecosystem, featuring the original Hamster Kombat and other third-party games integrated through a unique key mechanism.
Revolut, a leading fintech company based in the United Kingdom, has formed a strategic partnership with Ledger, a prominent provider of crypto-focused hardware wallets, to make digital asset purchases more accessible for users in select European countries.
Decentralized Finance (DeFi) protocol dYdX has announced a major upgrade coming to its Chain. The launch is scheduled for later this autumn and will bring a suite of new features to the protocol.
Grayscale ETHE saw a net outflow of $31 million, reversing the previous day’s breakeven flow, likely due to concerns over Grayscale’s ability to convert ETHE shares into real Ethereum.
Pump.fun has reached a new milestone by generating $5.2 million in daily revenue, surpassing the combined revenue of the next 24 highest-earning protocols.