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.
Despite the growing adoption of cryptocurrencies, among institutional and retail investors, some companies are still not considering adding crypto to their balance sheets.
Representatives of the Association met with members of the Biden Administration for favorable regulations and to correct “illicit finance” notion on crypto.
Ripple mentions that the Private Ledger will ensure secured and fast transactions at low-costs.
Taking up PayPal in its game, traditional crypto industry players Bitfinex and BitPay are allowing merchants to accept crypto payments amid a wider outlook of digital payments.
With the NewsCrypto Coin (NWC) token now being launched on PancakeSwap, users are able to benefit from its impressive liquidity and range of additional features – providing even more utility to NWC holders.
The move by the Crypto.com exchange to unveil its Venture arm is not uncommon in the digital currency ecosystem. Some other exchanges have similar initiatives.
All bids on the digital art are priced in Ethereum and the top at press time was for $928 in Wrapped Ether (WETH).
Notably, the Clarion protocol will not have a governance token like most blockchain projects.
Nimiq OASIS is still undergoing further developments for the full release as noted by the team, and the public beta launched is just the first step in an ambitious roadmap ahead.
The 21st-century art enthusiasts are stashing physical artwork and converting them into digital collectibles in the forms of blockchain-based NFTs that are further auctioned for millions of dollars.
Hex Trust is the first-ever platform to offer secure custodial services for NFTs. The decision comes amid NFTs gaining massive popularity transacting millions-of-dollars.
With the NFT craze catching up, popular artist Ben Mauro known for creating profound characters and futuristic lifeforms successfully sold 21 unique collections in NFTs on the VIV# marketplace leveraging the Flow blockchain.
Users who are interested in taking advantage of the product offering from the Digital Reserve (DR) platform can do so by depositing DRC into the system which will first be converted to WETH through the Uniswap router.
Iva Wisher, Prosper co-founder, notes that the partnership with TRON represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”
Ever since news emerged that Gary Gensler could be the new chairman of the SEC, crypto enthusiasts and analysts have praised this initiative as they see it as a big plus to the industry.