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June 03, 2018, 10:19:46 AM |
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Even if you do not understand what Altcoins are, you are probably familiar with Bitcoin'om. Once you begin to explore the cryptocurrency market deeper, you will be surprised to learn that there are actually hundreds of cryptocurrencies, better known as Altcoins (an alternative to Bitcoin). Altcoins are an integral part of the cryptocurrency world, but they are not for everyone. Beginners often have a huge number of questions about altcoins, and this guide is a brief overview of altcoins that will help beginners decide whether to invest in altcoins and use them as part of a cryptocurrency investment portfolio. The word “Aldon” is short for “Bitcoin alternative”, and they called all cryptocurrency except for bitcoin. Altcoins are called an alternative to bitcoin, as most altcoins hope to either replace bitcoin or improve at least one of the bitcoin parameters. There are hundreds of altcoins, for example, the Coinmarketcap website lists more than 1000 altcoins . Every day there are more and more altcoins. Most altcoins are not much more than just bitcoin clones, while changing only 1-2 minor characteristics, such as the speed of the transaction of coins in the network, the method of coin distribution, or mining algorithm. Most of these coins do not live long. The only exception is litecoin, because It was created as one of the first altcoins. Compared to Bitcoin, litecoin has a different mining algorithm and a much larger number of coins. For this reason the litecoin established themselves as the silver to gold “out bitcoins s”.
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