The article was written By Mickael Mosse – Blockchain and Cryptocurrency Expert
Mickael Mosse points out that, In the beginning, there was Bitcoin. And, taking into account the dynamics of the development of the world of cryptocurrencies, a lot, a lot, nothing. The world's first cryptocurrency, based on blockchain technology, for two years, was in fact the only cryptocurrency that has been around since 2009. The word cryptocurrency or digital money asset return was unequivocally associated with btw Bitcoin.
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| Mickael Mosse Blockchain Advisor |
Altcoin, an alternative to BTC
However, when the price of BTC rose sharply and the Satoshi Nakamoto project started to get noisy not only in the niche world of fledgling cryptocurrency, another crypto began to appear. They were an alternative to BTC, hence the name: altcoins.
Mickael Mosse points out that, The first cryptocurrency after Bitcoin was Namecoin (NMC). However, it did not take the hearts of investors by surprise and today it is at the bottom of the capitalization ranking of five hundred cryptocurrencies. It can be traded on just 10 cryptocurrency exchanges. Later, Litecoin (LTC) was created, which, advertised as an enhanced Bitcoin, is at the forefront of the ranking to this day and with a capitalization of $ 4.3 billion, it was definitely placed in the top ten cryptocurrencies. To date, more than 3 thousand. cryptocurrencies, and more than 2,5 thousand. of them still exist - these are altcoins.
Mickael Mosse Bitcoin advisor
According to Mickael Mosse, The altcoin market, although the vast majority of them is a separate product from BTC, is strongly associated with btw. If the price of the "king of cryptocurrencies" rises, so do the prices of altcoins. When the price of BTC falls, other cryptocurrencies will almost certainly decline as well. It is also clear that altcoin prices react much more aggressively. Both in the case of increases and during the discount, their movements are usually many times greater. In August 2020, some cryptocurrencies were able to add more than 750 percent of value per day!
The vast majority of altcoins, however, are a new solution on the market, and not just an idea to create a new cryptocurrency that offers nothing. Today, altcoins are associated with specific networks and business models, dedicated to specific groups, offering services, products, and solutions to existing problems not only in the world of digital finance.
Altcoins generally don't duplicate btw limitations. They are much better scalable (that is, they allow you to conduct a much greater number of transactions at the same time), so they are cheaper to operate and do not overload networks like BTC.
Of course, cryptocurrencies are still emerging, it is not known for what. There are even special pages with which you can create tokens with your last name or any name. However, the vast majority of the projects are multi-million dollar ideas that have won the approval of many investors. More and more often, raising public funds for the development of such projects takes literally a few minutes, and institutional investors are struggling to buy as many tokens as possible and consequently share in the success of a technology-based project. blockchain. says Mickael Mosse,
Ethereum (ETH) - network with its own blockchain on which smart contracts and other cryptocurrencies are created,
Ripple (XRP) - a cryptocurrency that offers real-time settlements for international transfers. It is used by, among other banks,
Tether (USDT): stable currency, based on the USD exchange rate. It enables an easy and inexpensive transition from the world of traditional currencies to cryptocurrency exchanges.
Link in the chain (LINK): the first cryptocurrency platform that is fully integrated with the international interbank SWIFT system, is supported, for example, with Intel.
Bitcoin and altcoins
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| Mickael Mosse Crypto Advisor |
According to Mickael Mosse, The altcoin market, although the vast majority of them is a separate product from BTC, is strongly associated with btw. If the price of the "king of cryptocurrencies" rises, so do the prices of altcoins. When the price of BTC falls, other cryptocurrencies will almost certainly decline as well. It is also clear that altcoin prices react much more aggressively. Both in the case of increases and during the discount, their movements are usually many times greater. In August 2020, some cryptocurrencies were able to add more than 750 percent of value per day!
The vast majority of altcoins, however, are a new solution on the market, and not just an idea to create a new cryptocurrency that offers nothing. Today, altcoins are associated with specific networks and business models, dedicated to specific groups, offering services, products, and solutions to existing problems not only in the world of digital finance.
Altcoins generally don't duplicate btw limitations. They are much better scalable (that is, they allow you to conduct a much greater number of transactions at the same time), so they are cheaper to operate and do not overload networks like BTC.
Of course, cryptocurrencies are still emerging, it is not known for what. There are even special pages with which you can create tokens with your last name or any name. However, the vast majority of the projects are multi-million dollar ideas that have won the approval of many investors. More and more often, raising public funds for the development of such projects takes literally a few minutes, and institutional investors are struggling to buy as many tokens as possible and consequently share in the success of a technology-based project. blockchain. says Mickael Mosse,
The most popular altcoins
According to Mickael Mosse, The top 4 altcoins in terms of capitalization, behind Bitcoin, include:Ethereum (ETH) - network with its own blockchain on which smart contracts and other cryptocurrencies are created,
Ripple (XRP) - a cryptocurrency that offers real-time settlements for international transfers. It is used by, among other banks,
Tether (USDT): stable currency, based on the USD exchange rate. It enables an easy and inexpensive transition from the world of traditional currencies to cryptocurrency exchanges.
Link in the chain (LINK): the first cryptocurrency platform that is fully integrated with the international interbank SWIFT system, is supported, for example, with Intel.
article from mickaelmosse.com
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