When we hear the word Cryptocurrency, Bitcoin will be our first thought. But here’s the thing, though Bitcoin is the most well-known cryptocurrency, there are still hundreds of cryptocurrencies out there and one of them is Altcoin. What is an Altcoin, anyway? Altcoins, or also known as “alternative coin” is used to describe all the cryptocurrencies alternative to Bitcoin.
The term Altcoins are used to describe cryptocurrencies with lower market assets. They carry out similar functions as Bitcoins but there a range of differences.
Bitcoin is the most well-known cryptocurrency. When we heard the word cryptocurrency and trading, Bitcoin will be the first on we’ll think of. Because of this, the Bitcoin market became very competitive and if you’re a beginner or an amateur, it will be difficult and expensive to get in.
In 2018, it has been successful for Cryptocurrencies. There’s a lot of new altcoins that are appearing to market almost every week. Bitcoin is not perfect. Several altcoins provide a lot of versatile programing language to make applications on prime of, while yet others offer more privacy compared to Bitcoin. Altcoin can be a profitable investment. It gives people a chance to invest even if they only got a little money.
Though there are a lot of altcoins to choose from, there are many altcoins that don’t make it market that long. There are some that are not really impressive at all. Some altcoins just tweak on what other altcoins’ framework — thinking that they can “solve” what’s lacking. Some are just promising for it to be valuable, but if you’ll dig deep, it doesn’t do much at all. Some are just promising for it to be valuable, but if you’ll dig deep, it doesn’t do much at all.
Litecoin, Ethereum, and Ripple are some of the most well-known and prominent altcoins. But, are there more interesting Altcoins that will surely play a great role in the future?
To help you answer that intriguing question, here are the 4 Altcoins to Keep an Eye On!
Zcash, like Bitcoin, is a P2P (peer-to-peer) Cryptocurrency. Aim to provide additional security to cryptocurrencies, Zcash was developed in response to Bitcoin’s imperfection. It was able to offer additional safety, confidentiality, and transparency of the transactions. All the confidential details such as sender, receiver and amount are automatically hidden but all transactions are recorded on a public blockchain.
Using zero-knowledge proof, the zk-SNARK, Zcash provides maximum security that ensures anonymity and security to both parties which Bitcoin can’t do. It became their selling point, which is why it’s having great potential and traders are looking forward to this Altcoin to continuously do great in the future.
NEO was known as AntShares before and was just rebranded by founder Da Hongfei in China. Because it is very similar to Ethereum, it is often called the “Chinese Ethereum”. NEO is also known as the first massive cryptocurrency which has emerged in China. While other altcoins give you coin when, NEO gives you smart contracts, certificates, and etc. While these smart contracts work like shares for the company, it allows them to have the same advantages like the blockchain.
Though NEO is similar to Ethereum, it offers more advantages especially technologically. One of its advantages is language. NEO supports multiple programming languages like C++, C#, Go, Java and others – one of the keys to NEO’s success. NEO is currently performing very well and expects to do well in the future.
Since EOS was launched in 2018, traders have seen a lot of potential with this cryptocurrency. EOS environment is just like Ethereum in a different way. The developers made sure that it provides the flaws of Ethereum - easier and it faster. EOS aims to compile all the best features and promises to be the most powerful platform for decentralized application. They are continuously working to bring people a successful, simple and easy to use platform for everyday use. What made it stand out more is the absence of the gas and transactions fees. Because of this, it gained a lot of support and was labeled as the “Ethereum Killer”.
EOS has successfully gone through token sales and has a huge potential ahead of it. Continuously, it has been doing great and has a lot of potentials to make more money and strive through the following years. Surely, one of the top Altcoin to keep an eye on.
Trusting your money or coins can be hard, especially if you are making a transaction. Banks and other cryptocurrencies like Bitcoin and traceable - they know the ins and outs of our of transactions and accounts. But Monero is completely different. Monero was launched in 2014, providing fast and secure payments, and since then continuously doing great in the market. They offer privacy, decentralized, security, confidentiality and making your transactions completely untraceable. It is completely possible to track a Bitcoin transaction. Transactions on the Bitcoin blockchain exist on the public ledger that is open for all to check. It is possible to know the sender and the receiver and these features make them stand out to other cryptocurrencies, and making Monero as a top choice in terms of security and privacy.
This is made possible their one-time destination public key - their unique feature which everyone likes. Only spendable by the receiver, one-time public keys can only be used and detected by the receiver as well. Since all of the transactions cannot be traced, the privacy of the receiver is definitely is ensured.
It is completely possible to track a Bitcoin transaction. It is possible to know the sender and the receiver and these features make them stand out to other cryptocurrencies, and making Monero as a top choice in terms of security and privacy. Monero has clearly built up its credibility and continuously doing great. It will be a good investment in the future it has all the potential to stay in the market for a very long time.
Bitcoin, Ethereum and Litecoin can be very expensive, especially for the new traders, beginners and for those who want to invest with just a small amount. Entering the world of cryptocurrency can be confusing and overwhelming but still, you need to be cautious with your investments. The success of your investment will depend on how useful the product and doing your research will be the best thing to do before investing in any Altcoin.