The entire reason for the existence of Altcoin is the popularity of Bitcoin. As the concept and genius of Bitcoin settled in, people began to realize that cryptocurrency has an immense scope. Altcoin stands for ‘alternate to Bitcoin’ or ‘alternate cryptocurrency’. It is a common belief that major altcoin market contenders possess extremely sophisticated software and security systems. Because of the huge number of options available today, we see some very competitive altcoin price.
The pricing and value of each altcoin token are based on certain criteria. For any medium of exchange factors like acceptability, divisibility, uniformity, portability, durability, liquidity, etc. are value-determining. The same rule applies to cryptocurrency. Increased competition only applies more and more pressure on altcoins to push for excellence. As of August 2018, as many as 1600 cryptocurrencies are on offer. The market, however, still hasn’t reached saturation point. Such is the scope for altcoins.
Some of the most successful altcoin tokens are:
• Ethereum Classic
The introduction of Bitcoin gave companies like Microsoft, Intel, Google, and other leading technology giants the germ of an idea. MNCs and individual developers alike began to add interesting features to their own cryptocurrency. To date, cryptocurrency is a business open to everybody. Anybody can use the blockchain to create and trade with their own digital tokens.