What are different Altcoins?

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Speaking of cryptocurrencies, many people associate bitcoin, but there are many other cryptocurrencies such as XRP and Ethereum in the market. These cryptocurrencies other than bitcoin are generally called Altcoins. Visit at: https://the-wealthmatrix.com/

Ether (ETH)

Ether is a native cryptocurrency of the Ethereum blockchain. Like bitcoin, the Ethereum blockchain is also decentralized. It is a payment platform that can run “smart contracts”.Various decentralized applications like MakerDAO, Uniswap, and other dApps games run on Ethereum Blockchain and they use smark contracts technology for this. The native token we need to run DApps on this Ethereum is Ether (ETH) that you can buy on cryptocurrency exchanges. At Ethereum, here are tackling bitcoin challenges, also known as original blockchains, with technologies like Proof of Stake.Ether, which is required to operate the Ethereum used for ICO, is a major altcoin that ranks high in the market capitalization ranking of crypto assets.

RIPPLE (XRP)

XRP is a digital asset used by RippleNet, a new international money transfer platform. It frees banks from the cost of maintaining Nostro accounts and reduces foreign exchange risk for money transfers. Transaction approvals are performed by validators distributed around the world. They are processing 1,500 throughputs per second and allowing remittances to be settled in 4 seconds. RippleNet has already been deployed in more than 200 financial institutions, and ripple and SBI Group’s marketing leadership is a significant difference from other crypto assets.

SOLANA

Solana was developed to support several dApps that are rapidly developing and being used with high performance and issues virtual currency SOL (Sol) on its platform. Solana is noted as a representative of the “Ethereum Killer” for its low transaction fees, enhanced scalability, and fast transactions.

 

Cosmos (ATOM)

Cosmos (ATOM) is another altcoin. But, the difference is that it tries to function on an ecosystem of blockchains or an internet of blockchains. “Internet of Blockchains” means the Internet, which consists of blockchains. For example, the bitcoin blockchain and Ethereum blockchain cannot be connected together and used, but the “Internet of Blockchains” aims to enable mutual entry by making the cosmos function as a hub. In other words, the goal of the cosmos is to realize interoperability.

 

LITECOIN (LTC)

Like bitcoin, litecoin is a cryptocurrency that aims to be a peer-to-peer payment system. Litecoin holds more liquidity than bitcoin. It is a cryptocurrency that solves transactions that are also a problem of bitcoin, and the authorization time of the transaction is set to 2/5 minutes, which is one-quarter of bitcoin, to accommodate the huge transaction required for settlement.

 

 

FACTUM (FCT)

Factum is a decentralized platform that manages documents on the blockchain as electronic data. It is being developed to reduce the data management costs previously required while maintaining robust security by utilizing bitcoin’s capabilities. Projects such as doc, which manages medical records, and Factum Harmony to manage data in the mortgage industry, are already underway. Further implementation is expected in various institutions and companies.

 

Basic Attention Token(BAT)

Basic Attention Token (BAT) is a virtual currency linked to the Web browser “Brave”, and was born in an attempt to solve the problems faced by users, media, and advertisers in conventional web advertising. Brave gives you control over viewing ads and providing useful information and allows you to obtain and use BAT points by viewing certain ads approved by Brave.

Quantum (Qtum)

Qtum is an open-source blockchain cryptocurrency that was born in December 2016. It incorporates the strengths of both bitcoin and Ethereum, which are representative blockchains, and solves the problems of each. It is gaining popularity for its design that combines the high system stability of Bitcoin with Ethereum’s smart contract capabilities, which are essential for the business use of blockchain.

OMG

OMG is a native token of the omg network and is issued in the ERC-20 standard. The ERC-20 standard is one of Ethereum’s token standards. Many projects such as USDT are published under the same standard. OMG is already heavily handled by major exchanges, including Coinbase, one of the world’s largest exchanges.

ADA (ADA/CARDANO)

Cardano is a platform for developing distributed applications (Dapps), intending to enable scalability, interoperability, and sustainability. Native tokens distributed on the Cardano blockchain are called ADA.

 

Enjin Coin

Enjin Coin is a digital token that Enjin, founded in Singapore in 2009, has made available on the blockchain platform Enjin platform. The Enjin platform allows you to purchase a non-fungible token (NFT), a digital asset issued, or to issue a new NFT backed by Enjin Coin as an asset back.

Conclusion:

Unlike fiat currencies issued by a particular government, altcoins are independent of organizations such as countries, governments, and companies. It can be used as a means of international payments and remittances. It is also been massively used for trading.Bitcoin Era is an exchange that has a simple interface