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Author Topic: Platform for Alt Coins  (Read 527 times)
freeyourmind
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June 08, 2017, 06:32:32 PM
 #1

Alt coins all run on a platform, most of which run on Ethereum.

Can someone explain how this works?  At the end of the day, I'd like to know if alt coins that run on the Ethereum platform increase demand for the currency itself, or if it just runs on a similar architecture?

Even if you have a link with the info, that would be helpful.

Cheers.
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June 08, 2017, 07:14:04 PM
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The following post on Coinbase shows the concept of ethereum based tokens: https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b

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June 08, 2017, 07:56:11 PM
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Most ERC20 Tokens created on Ethereum has no inherent value.  The tokens still require ethereum's wei/ether to power transactions with those tokens.  Plus, anyone can arbitrary create any number of coins, or even give the coin the ability to "self-mine" (actually piggybacking on people mining ethereum - ethereum's block number increasing) with a Ethereum smart contract.

For example, take a look at Minereum's source code:
https://etherscan.io/address/0x1a95b271b0535d15fa49932daba31ba612b52946#code

Minereum arbitrary created 3200000000000 tokens (for each of their genesis address) on line 27, and will "mine" 32000 tokens every Ethereum block until Ethereum block number 3597381.


freeyourmind
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June 09, 2017, 12:31:25 AM
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The following post on Coinbase shows the concept of ethereum based tokens: https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b

Thanks for the link dude.  Very helpful.  So other cryptocurrencies that run on the Ethereum platform do increase the demand for ether.  Given this dependency for most alt coins, it looks like Ethereum will be the foundation and have increasing demand.
just a man
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June 09, 2017, 09:25:21 PM
 #5

The following post on Coinbase shows the concept of ethereum based tokens: https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b

Thanks for the link dude.  Very helpful.  So other cryptocurrencies that run on the Ethereum platform do increase the demand for ether.  Given this dependency for most alt coins, it looks like Ethereum will be the foundation and have increasing demand.
There’s a bunch of coins that are kind of with Ethereum now since the price of it is going up. I remember there was a bunch of people in this section talking about how ETH was a scam and to not buy into it because the price of it was going to dump, now the price of a single ETH is over $200.00.

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freeyourmind
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June 09, 2017, 10:01:59 PM
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The following post on Coinbase shows the concept of ethereum based tokens: https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b

Thanks for the link dude.  Very helpful.  So other cryptocurrencies that run on the Ethereum platform do increase the demand for ether.  Given this dependency for most alt coins, it looks like Ethereum will be the foundation and have increasing demand.
There’s a bunch of coins that are kind of with Ethereum now since the price of it is going up. I remember there was a bunch of people in this section talking about how ETH was a scam and to not buy into it because the price of it was going to dump, now the price of a single ETH is over $200.00.


I didn't really get too involved with alt coins until recently.  But if a bunch of other alt coins are dependent on Ethereum...I see it as being a good foundation for demand, even if the actual demand is indirectly tied to it.

I have a lot to learn, but basically want to see if the increase in price is justified and practical, or more speculative.
theroryshow
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June 10, 2017, 12:25:44 AM
 #7

I think this price is as justified as for any coin. The reality is that a lot of ICO's are requiring you buy etherium, that alone increases demand. The more coins that use etherium as a platform the more the word is spread about eth. In order for demand to take over people have to know about the product.
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June 10, 2017, 12:48:25 AM
 #8

Alt coins all run on a platform, most of which run on Ethereum.

Can someone explain how this works?  At the end of the day, I'd like to know if alt coins that run on the Ethereum platform increase demand for the currency itself, or if it just runs on a similar architecture?

Even if you have a link with the info, that would be helpful.

Cheers.

each platforms going to have the token/coin creation and handle them differently, i'm sure token creating platform like Ark, Waves or Eth are all different, if you want to understand them just look at their whitepapers.

yes, coins run on the platform creating more hype for that platform and eventually increase demand and price.

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