Blockchain technology, which is one of the leading revolutionary
technologies of our time, and cryptocurrencies, especially Bitcoin, have begun
to characterize themselves in our daily lives. This naturally led to questions
such as what bitcoin is, what is blockchain in people's minds.
Bitcoin, launched in 2009 by someone named Satoshi Nakamato, thus became the
first cryptocurrency in history. With Bitcoin causing its voice to be heard
around the world, it introduced a few concepts with it. One of them was the question of what altcoin is, a topic that has been
quite popular recently.
When Bitcoin was first introduced to the world in 2009, it was
called the "First Generation Blockchain" as its first successful
digital money project.
Thanks to the dynamic functioning of blockchain technology, it
is possible to track transactions entering any Bitcoin network, while the
identity of the user performing the transaction is kept confidential. The data
subject to approved transactions within the Bitcoin blockchain network is
in no way processable, permanent and irreplaceable due to the nature of the
blockchain structure.
With the advantage of its structure, Bitcoin's value has risen
to thousands of dollars in real money. After this rise, many cryptocurrencies
became available. These cryptocurrencies were defined as “alternative coin” or
altcoin in technical terms. Having various purposes and different qualities,
these altcoin units have emerged as new options in the cryptocurrency market,
taking advantage of the existing competitive opportunity in the market.
Due to the guidelines, maximum 21 million Bitcoin
cryptocurrencies can be produced in Bitcoin blockchain system. Considering that
approximately 18 million Bitcoins have been produced to date, no new Bitcoin
will be produced after 3 million Bitcoins have been produced.
Bitcoins' addresses are users' private identities on the system. It cannot be associated with the user who performed the transaction, and when the keys of these addresses are lost, no claim can be made on the addresses.
In the use of Bitcoin, the value of inflation, the fact that
there is almost no risk of systemic collapse, and its practicality, reliability
and anonymity are quite prominent. The fact that money transfers are safer,
more reasonable and faster than usual and traditional methods has been
very effective in choosing Bitcoin.
Altcoins are newly
encrypted digital currencies with a different algorithm. Today, there are
nearly 300 types of altcoins and they are of great interest in many
cryptocurrency exchanges, especially Thodex.
You may not find all types of altcoins on every cryptocurrency
exchange. Because it is usually effective in this case that the market volume
of altcoins has not yet reached sufficient capacity and has not yet exceeded
the required demand limit. Nevertheless, Thodex, which lists 17 types of
altcoins for users looking for a large number of altcoin options to diversify
cryptocurrency investments, can be an ideal option.
The main purpose of Altcoin production can be described as the
low level of difficulty, which is a very major element for mining. A type of
altcoin can be produced more quickly at the level of difficulty around
1. Cryptocurrencies such as Litecoin and Bitcoin require very high levels
of difficulty, so new “clone coins” are produced at lower levels. These are
valued in cryptocurrency exchanges where the supply-demand ratio is decisive.
In other words, the diamond of cryptocurrencies is expressed as
Bitcoin, gold is expressed as Litecoin, silver is expressed as Ethereum.
Litecoin: Transfer is accomplished faster
than Bitcoin.
Ripple: Ripple, both a cryptocurrency and a
payment network, is an altcoin whose trading takes approximately 4 seconds. In
addition, approximately 1500 operations can be performed in 1 minute
within the Ripple system.
Ethereum: Ethereum, which provides the
opportunity to create smart contracts for software and IT professionals, is the
cryptocurrency with the highest market volume after Bitcoin, and trading
takes only 2 minutes.
1.Tron (TRX)
2.Basic Attention Token (BAT)
3.0X (ZRX)
4.NEO (NEO)
5.Cardano (ADA)
6.EOS (EOS)
7.DASH
8.Tether (USDT)
9.Binance Coin (BNB)
10.Bitcoin SV (BSV)
11. Stellar (XLM)
12.Monero (XMR)
13.Cosmos (ATOM)
14.Tezos (XTZ)
15.OKB (OKB)
16.Ontology (ONT)
17.Maker (MKR)
18.Decred (DCR)
19.Luna (Luna)
20.Lisk (LSK)
21.Maximine (MXM)
22.Augur (REP)
23.Dai (DAI)
24.Waves (WAVES)
25.Bytom (BTM)
26. Quant (QNT)
27. Verge (XVG)
28. Energi (NRG)
29. Stratis (Strat)
30. Beam (BEAM)
Altcoin types are certainly as safe and preferable as
Bitcoin. However, before you start using these cryptocurrencies, there are
a few things to consider. First of all, not every altcoin you want may be added
to every cryptocurrency exchange list. Altcoin versions that can attract
attention and appeal to users in a short time should therefore be preferred.
Accordingly, cryptocurrency exchanges have begun to attempt various methods to
attract the attention of cryptocurrency miners and investors regarding newly
emerging types of altcoins.
Before entering the cryptocurrency market, it is necessary to
conduct very serious study and analyze all the potential and current risks in
general. The Bitcoin and altcoin universe, together with all its instruments,
is an experimental system, and naturally, like any investment instrument, there
are aspects to it that can bring more or less risk, and the gains made are
already based on this principle.
In its simplest terms, Ethereum is defined as a distributed
system based on blockchain technology and established by Vitalik Buterin.
Bitcoin and Ethereum are fundamentally different in terms of the
level of competence and intended use of users.
• Bitcoin is anonymous, distributed and transparent. The most prominent
feature of the Ethereum system is the smart contract system.
• While the blockchain production period in Bitcoin system is 1 in 10 minutes,
this number occurs as 1 block production in 15 seconds in Ethereum system.
So in terms of transaction verification time, the Ethereum system is the
fastest in the ecosystem compared to Bitcoin and even all other types of
altcoins.
• While the success of Bitcoin mining depends on processing power; GPU system
is used instead of CPU and ASIC in Ethereum mining process. Thus, a
balance is achieved between the producer group in the Ethereum network.
Digital files containing command code blocks are called smart
contracts. For this reason, Ethereum is considered a kind of "programmable
money". A transaction on a smart contract system occurs automatically when
the specified conditions are met.
If you want to start cryptocurrency investments or make your
existing cryptocurrency investments safely and with the lowest commission
rates, you can do so quickly as a member of Thodex.