
How can you be sure that you’re
choosing the right option when there are a lot of alternatives to choose from?
To differentiate and make the right choice we’ve listed some of the key points
stating the difference between the two.
·
Bitcoins
are the original cryptocurrencies. They gave birth to the blockchain
revolution. It made the transaction more secure and created additional units.
But it has now become the old version and is no longer use as currency. It is
referred to as digital gold or store of value. It was a beta test of technology
and was not that useful.it was not that realistic and useful for real
life.
·
Other
than the bitcoins everything else are considered as altcoins. Almost 1500 other
coins are referred to as altcoins. Etehrium is also referred to as an altcoin.
They are usually the clones of bitcoins. They try to fix the disadvantages of
the bitcoins but fundamentally both of them are similar.
·
The
other altcoins are made to solve various problems. Most of the cryptocurrencies
are not even considered to be currencies. Many of them are social networks or
cloud computing or data storage systems. These include
many degraded trading exchanges. Most of the altcoin projects use blocks chain
technology, which can be then used to solve real-world problems. They solve
problems from industries to medications. So basically it is not limited to
financial market and transactions.
·
Within
a few decades by the advancement of the internet, the future of altcoins is
increasing. We would see the future UBERS running on decentralized apps. Thus
it is having a vast scope out there.
·
Thus,
to sum up, we can say the whole market of cryptocurrencies cannot be a single
winner game in terms of competition or altcoin cannot be the single coin to overthrown
bitcoins. There would be a wide network of the crypto market in future. In this
decade we have got bitcoin which can be considered the high brand ambassador of
the blockchain to get media attention. But altcoins have much more promising
results than we realize.
·
Bitcoin
can although get developed to be capable of getting at par with altcoins. But
competition is always healthy for a business to prosper. And as a block is a
young technology, thus it requires more thriving system around to develop and become
valuable to society. The beauty of
blockchain is that it allows for cryptocurrencies to be used for much more than
just paying for things.
Bitcoin vs altcoins
Reviewed by Newzpot
on
21:16:00
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