Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: Olatoolz on June 21, 2018, 07:48:46 PM



Title: DEFINITION OF ALTCOIN
Post by: Olatoolz on June 21, 2018, 07:48:46 PM
Altcoin are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. As the term 'altcoins' means all cryptocurrencies which are not Bitcoin, there are hundreds of altcoins.



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Title: Re: DEFINITION OF ALTCOIN
Post by: eagleman on June 21, 2018, 07:57:40 PM
Those altcoins that are saying that they are better than bitcoin should give themselves a break.

There's no altcoin that is better than bitcoin and no one can surpass it.


Title: Re: DEFINITION OF ALTCOIN
Post by: oceanstarview on June 28, 2018, 01:37:58 PM
Those altcoins that are saying that they are better than bitcoin should give themselves a break.

There's no altcoin that is better than bitcoin and no one can surpass it.

Altcoin is any digital crytocurrency similar to bitcoin. The term stands for " Alternative to Bitcoin" and used to describe any crytocurrency that is not a bitcoin. Altcoins are created by diverging from bitcoin consensus rules ( the fundamental rules of the crytocurrency's network) or by developing a new crytocurrency from scratch. Most popular altcoins used the same fundamentals building blocks as bitcoin. This approach is relatively easy to carry out because bitcoin is a free open source platform. When an altcoin forks at the blockchain level, an alternate system of consensus rules must be use and the coin will have an entirely different distributed ledger. the same is true for altcoins built from scratch. Some altcoin have different monetary policy rules built into the currency to encourage different uses and treatment. Policies such as minimum spend, positive or negative interest on coin stored, can encourage or discourage hoarding. Policies for coin mining may function differently from bitcoin, as may the number of coins paid out per new block mined.