Cryptocurrencies are clearly the future mode of payment. They are changing the way people do business and interact with money across the globe. Since the advent of Bitcoin, we have seen more digital currencies enter the cryptocurrency market.
“As with all endeavors, our first attempt rarely delivers the optimum of all possible outcomes. But if the work has appreciable utility, others come along to innovate and make improvements, such has been the case with digital currencies,” notes Sheldon Corey, the owner of Arges Inc.
Corey continues to state that “developers of new markets are usually celebrated with a great deal of attention, sometimes to the level of over exuberance. Bitcoin broke the trail for crypto currency, with the promise of decentralized, anonymous, fast and inexpensive transactions. Over time, Bitcoin has become weighted by its very own success. The top ten bitcoin mining pools now control about eighty percent of all bitcoins mined, transactions are slow and expensive, and the energy consumed to mine a Bitcoin has become overly cumbersome. The market has replied with thousands of digital permutations, building upon the successes and vulnerabilities of the Bitcoin blockchain.”
Read more:
https://www.hedgeco.net/blogs/2017/12/06/how-upcoming-digital-coins-are-shaping-the-cryptocurrency-market/
