What Are Altcoins?
An Altcoin is any digital cryptocurrency similar to Bitcoin. Litecoin, Ripple, Dash, and Monero are a number of popular Altcoins that are being used all over the world for digital payments online. No matter if you’re a startup or an established brand – every type of company tends to launch their own Altcoin based on blockchain technologies and innovation, so Altcoin creation is about to become a must-have a lot of features for any type of business & technology solution.
Need for Altcoin
It is important to note that some altcoins innovate by experimenting with valuable characteristics which Bitcoin does not offer. The characteristics include peer to peer nature, ability to be mined, etc. are the core component of most of these new coins. Many of these coins are actually based on the framework provided by Bitcoins.
Some altcoins are relatively made to solve particular problems or for a particular use. These alternate currencies can now be used in buying domains and hostings. Some of the platforms such as Ethereum are revolutionary and can change the way the Internet is actually functioning.