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 250-year-old auction house will be auctioning an NFT of one of the most popular digital artists Beeple. For this, Christie’s has partnered with the digital marketplace MakersPlace.
Using QTUM, network users pay nominal fees to execute transactions or smart contract operations, creating an open and permissionless financial system.
The bill encompasses all residents in the country including citizens and foreigners, as well as Russian and international enterprises established in the country.
Tron foundation was accused by Marques Brownlee, a popular YouTuber with over 13.5 million subscribers, of offering him compensation to promote the Tron ecosystem without any disclosure.
Barring any last-minute changes, Ripple-SEC lawsuit is expected to last all year long as the pre-trial conference has been set for February 22.
The potentials in the price of Ethereum to soar to new levels is backed by the rise in the coin’s Total Value Locked (TVL) on DeFi platforms.
Bitcoin has started the week strong. Bitcoin has set a new high, reaching as high as $50K on some exchanges early Tuesday.
DeFi Yield protocol is one of the novel DeFi platforms that offer enticing rewards based on solid fundamentals. The protocol has different systems of controlling inflation and ensures that whales cannot control their tokens’ price.
For FNX holders, it is key to note that the circulating supply question has been answered by a community-selected token burn. For liquidity providers, everything will be moving to the SushiSwap platform in order to maximize liquidity in fewer pools.
Pulse Network is ushering in a new future in the health industry by deploying some of the latest technologies to deliver advanced medical care to everyone.
The upcoming hard fork in Ethereum 2.0 Beacon Chain will introduce critical updates in terms of introducing light clients as well as introducing the inactivity leakage mechanism to make life easy for stakers.
While Bitcoin tops the $50,000 milestone with strong bullish momentum, altcoins are not far behind. Interestingly, so far in 2021, the altcoin market has outperformed Bitcoin with a staggering 150% surge in the altcoin market cap.
DeFi’s explosive growth has helped UniSwap emerge as one of the most popular DEXs today in the market. The UniSwap exchange processes over $1 billion in daily transactions.
The most expensive NFT sale was made after the successful purchase of virtual plots of land on Axie Infinity valued at $1.5 million.
For now, the new age of digital finance is regarded as more problematic than beneficial. The superiority of blockchain is often underestimated and questioned as world governments see more danger coming into existing banking systems.