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.
Hester Peirce wants more precise cryptocurrency regulations amidst crypto adoption by big companies.
The founder expects that SBI Holdings will take advantage of the cryptocurrency boom to make the area its key earner.
Elon Musk said that too much concentration of DOGE coins in the hands of big players is a matter of concern and thus he wants big holders to sell their coins.
The recent surge in the price of Bitcoin came after a series of events that show the wider adoption of Bitcoin globally.
The fundraising round of Synthetix is the first time when the project directly governed by a DAO raises funds. Investing in Synthetix, Coinbase Ventures, Paradigm, and IOSG are bringing something valuable to the project.
Ripple founding member Jed McCaleb continues with his aggressive XRP dumping and has reportedly made more than half-a-billion dollars in gains by selling XRP over the last 8 months.
The final phase of the TrueFi launch should initiate the beginning of a highly functional, cross-chain uncollateralized lending platform, equally able to serve institutions, retain users, and lend to other protocols.
Leading cryptocurrency exchanges are rushing to add support for assets based on the Algorand blockchain. The recent additions will allow users to deposit and withdraw assets such as Tether (USDT) and USDC using the Algorand protocol. Users will also be able to trade those assets for other cryptocurrencies in a seamless manner.
Cryptocurrency can transform the way we exchange goods and services, but establishing a baseline sense of stability is a prerequisite to the expansion of this technology.
Crypto traders and investors as well as companies are expected to be given a three to six month transition period to liquidate their digital holdings after the new law is made officially.
With PayPal being a CBDC distributor, more customers would be interested in its products, especially those related to crypto.
Unlike most DeFi projects that solely focus on Ethereum, Kava provides a decentralized finance solution for different assets.
The GoodFi crypto DeFi alliance is a non-profit initiative launched with the goal of getting 100 million people putting at least $1 billion in DeFi by 2025.
Uber’s comment on considering crypto payments came after electric vehicle company Tesla announced its Bitcoin investment.
CEO Dan Schulman noted that the volume of crypto transactions on PayPal exceeded expectations.