Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin."Altcoin" is a combination of two words: "alt" and "coin"; alt signifying 'alternative' and coin signifying (in essence) 'cryptocurrency.' Thus together they imply a category of cryptocurrency that is alternative to the digital currency Bitcoin. After the success story of Bitcoin, many other peer-to-peer digital currencies have emerged in an attempt to imitate that success. While Bitcoin was the first cryptocurrency, and remains the best-known, it is now only one of hundreds of cryptocurrencies, which all seek to improve upon Bitcoin in various ways.
Many of the altcoins are built upon the basic framework provided by Bitcoin. Thus most altcoins are peer-to-peer, involve a mining process by which users solve difficult problems to unlock blocks, and offer efficient and cheap ways to carry out transactions on the web. But even with many overlapping features, altcoins vary widely from each other. Altcoins differ themselves from Bitcoin with a range of procedural variations, including different proof-of-work algorithms, different means by which users can sacrifice energy to mine blocks, and application enhancements to increase user anonymity.
RECOMMENDED AFFILIATE LINKS
🔗Valr: https://www.valr.com/invite/VAURZWMT
🔗Coindirect:https://www.coindirect.com/?afid=PQYKQV1Q
🔗Luno:https://www.luno.com/invite/UAC8E
🔗Coinbase:https://www.coinbase.com/join/580beab974462c332874e6f0
🔗Binance:https://www.binance.com/?ref=16626703
🔗Paxful:https://paxful.com/?r=zGMkybbRwQW
🔗Vultr:https://www.vultr.com/?ref=7422593
🔗Sistem Coin:https://sistemkoin.com/#/ref/8755915787
🔗Join AirBnB: https://www.airbnb.com/c/greyj1?currency=ZAR
DISCLAIMER: My content is never Financial advice just offering my opinion. Feel free to start asking and upvoting questions.
Be sure to leave a comment, share the video and subscribe!
Thanks for watching guys
