Altcoin: The Alternative Cryptocurrencies: Mickael Mosse

article from mickaelmosse.com

What is an altcoin?

Mickael Mosse Crypto Advisor

Read an overview of some of the alternative cryptocurrencies, also known as 'altcoin', available on our online trading platform. It includes an explanation of what an altcoin is, what its particular characteristics are, some benefits, and how to differentiate between one and the other.

According to  Mickael Mosse, An altcoin is an alternative cryptocurrency to the traditional and more popular ones, that is, btw bitcoin, litecoin , ethereum and ripple. Currently, they are on the rise due to the volatility of the cryptocurrency market, which carries many risks. With an altcoin, transactions are much faster, it is generally less volatile than bitcoin and has a higher level of security. In addition, alternative cryptocurrencies have an influence on the process and scope of the blockchain.

Dash

Dash is an open-source cryptocurrency and an altcoin that was forked from the bitcoin protocol. It was designed to carry out fast transactions and with a SWIFT administrative structure in order to solve the shortcomings of btw bitcoin. It is slightly different from other major currencies in that it relies on “organized autonomous decentralization”. This means that it works by means of a subset of users or "master nodes" that carry out the basic functions, including hosting the blockchain and validating transactions, as well as making all the important decisions and in a sense, acting as "shareholders". All transactions executed on the Dash blockchain remain anonymous. says Mickael Mosse

EOS

According to  Mickael Mosse, EOS is the original cryptocurrency that powers the EOS.IO blockchain protocol, which operates as a smart contract platform and a decentralized operating system. Developers can use EOS.IO to build applications, and owning EOS coins is a claim on server services. The objective of the platform is to provide a decentralized development niche, a smart contracting capacity, and decentralized storage of business solutions that solves the scalability difficulties of the other more recognized blockchains such as bitcoin and ethereum. The operating system itself is hosted by "block producers" who, like btw bitcoin miners, maintain the blockchain and are rewarded in EOs as an incentive.

Although the EOS blockchain is very similar to ethereum, it focuses on making the interaction between the end-user and the blockchain easier. EOS also differs in that it does not charge per transaction, as it is primarily a service for application developers.

Monero

According to  Mickael Mosse, The main objective of the Monero blockchain is the confidentiality and undetectability of transactions. Many cryptocurrencies (including btw bitcoin) have transparent blockchains, which means that all transactions, including sending and receiving, can be tracked and potentially linked to real-world identities. Monero uses cryptography to hide sending and receiving addresses, as well as transaction amounts.

Monero uses a proof-of-work mechanism that issues new coins and incentivizes miners to secure the network and validate transactions.

NEO

Mickael Mosse Blockchain Advisor

NEO is an economical smart platform that automates the management of digital assets using smart contracts. The cryptocurrency community has referred to NEO as "Chinese ethereum." It is backed by the Chinese government as part of its strategy to establish itself as a leading blockchain industry, which is a very important factor for an altcoin trader.

NEO is 100% pre-mined, therefore, when NEO is purchased, the buyer receives tokens as part of a previous issue, making it a centralized system. NEO owners do not necessarily need to give proof of work to earn GAS. NEO tokens generate GAS tokens for their owners simply by owning them.

GAS is used for the use of smart contracts and the NEO platform, which presumably creates pressure on the demand for NEO, increases its price, and therefore attracts more users.

Stellar Lumens

According to  Mickael Mosse, Stellar is a payment system that uses its own token - lumens. It acts as an intermediary for international transfers, making cross-border payments more efficient. Altcoin Stellar initially forked from ripple, but has since implemented its own network, the "Stellar Consensus Protocol."

Stella's payment system is maintained by a decentralized server system that houses the ledger that controls data and transactions on the network. The individuals and entities that service these servers are rewarded with lumens.

To make a payment, the issuer uploads the funds to an anchor in the stellar network, which issues lumens in the issuer's virtual portfolio. The sender can then transfer the lumens to the recipient instantly, without having to wait for the bank. If the parties' currencies are different, stellar would use the best available exchange rate to convert the lumens to the currency of the recipient's portfolio.

Mickael Mosse Bitcoin advisor

Cardano

Cardano is the home of the ADA cryptocurrency, which can be used by an altcoin trader to send and receive digital funds. Digital currency allows fast and direct transfers that are guaranteed to be secure through the use of cryptography.

Cardano develops a smart contract platform that seeks to offer more advanced features than anything previously developed. The protocol is characterized by layered blockchain software that is flexible, scalable, and has been developed with academic and business standards as its core ideology. Cardano uses a democratic governance system that allows the project to grow over time and sustainably self-finance.

Tron

Mickael Mosse points out that, Tron is a decentralized application platform and operating system based on the blockchain. The main objective of the Tron Group (Grupo Tron) is to demonstrate that the Internet should be used as a good for everyone, rather than as a lucrative tool for a very small core of businesses. Tron allows digital content creators to sell directly to consumers instead of having to sell their applications or content through the "app store", thus returning control to the creators.

This entire list of altcoins can be traded through our trading platform, Next Generation.

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the article was written By Mickael Mosse – Blockchain and Cryptocurrency Expert