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.
By introducing a new token model, FinNexus is expanding its network capabilities and opening itself up to new markets.
The musician raked around 72 ETH in the final bidding of his NFT along with an Easter egg surprise for users to unlock.
Over the long-term, Freeliquid is destined to serve as the market leader for collateralizing liquidity pool shares in exchange for efficient stablecoin loans, granting users worldwide the opportunity to access appreciable APYs.
Saudi Arabia is suitable for projects that are looking for a place where they can develop and implement their ideas and for ordinary representatives of the crypto community who want to conduct their activities openly and transparently.
The move to BSC will give KeyFi users more options on how they would like to allocate their funds.
Backed by industry leaders, including Boxmining, KVestor, ethbox aims to mitigate any risk involved in ERC-20 transactions.
While a defined date of the digital yuan launch has not been revealed, the current stride of opening up the wallet application to the public is a step closer to achieving the country’s CBDC dreams.
The L2 solution has been highly anticipated especially by most Defi projects that run on the Ethereum mainnet.
Russia’s Hermitage Museum has confirmed that its 2021 digital art exhibition will involve non-fungible tokens (NFTs). It further acknowledged that NFTs will become a new form of securing rights to artwork using blockchain technology.
Cardano poses a serious risk to Ethereum and is taking great strides towards overtaking it.
China’s central bank is proposing global rules to synchronize the use of CBDCs worldwide and ensuring “a fair supply of digital currencies” for the greater financial stability of the international monetary system.
Hester Peirce said that the SEC has a special interest in anything that could become security.
The auction caught wildfire during the last half hour as the auction price for the digital article NFT shot 10x in less than 30 minutes.
My Neighbor Alice indicated only 50% of the available land will be for sale, whilst the rest will be up for rental purposes.
Konstantin Anissimov, Executive Director at CEX.IO, shares his insights about the Bitcoin (BTC) and Ethereum (ETH) daily price movements. Weekly recap.