utility tokens
How to pick or analyze altcoins?
What are altcoins? The word “altcoin” is derived from “alternative” and “coin.” Altcoins refer to all alternatives to Bitcoin. Altcoins are cryptocurrencies that share characteristics with Bitcoin (BTC). For example, Bitcoin and altcoins have a similar basic framework. Altcoins also function like peer-to-peer (P2P) systems and share code, much like Bitcoin. Of course, there are also marked differences between Bitcoin and altcoins. One such difference is the consensus mechanism used by these altcoins to validate transactions or produce blocks. While Bitcoin uses the proof-of-work (PoW) consensus mechanism, altcoins typically use proof-of-stake (PoS). There are different altcoin categories, and they can best be defined by their consensus mechanisms and unique functionalities. Here are the mo...
