Bitcoin changed the world economy and especially finance, introducing a new way of thinking about the currency markets with a digital currency peer-to-peer based blockchain , invented by unknown (and mysterious) Satoshi Nakamoto , an alias of a character that has never been able to identify with certainty. And the blockchain itself has proven to be a high-level technical invention, reusable for multiple purposes.
Along with the Bitcoins some other cryptocurrencies were born, such as Ethereum and a handful of others. However, they have gone through a decade of overvaluation and then sudden collapses, not to mention the risk of fraud. But now, a new season is opening, made up of over two thousand digital micro-currencies.
Called “Altcoin “, an alternative currency, they are small but are becoming increasingly rooted in particular niches and areas, creating a movement that is collectively growing faster than that of traditional cryptocurrencies.
The cryptocurrency market is now worth around $ 240 billion, of which 60% are bitcoins. Just two years ago it was 90%. After the zenith of 2017, in short, the cryptocurrency that made everything begin is perhaps heading towards its nadir, with all due respect to those who had imagined it as a digital refuge asset. And even if there are accelerations – this year its value has almost doubled – in reality it has lost three quarters of its value in 2018 and the impression is that we are witnessing merely speculative flare-ups.
The volatility of bitcoin has prompted many investors
From pension funds to managed assets – to move away from bitcoin after getting burned, and their demise is viewed in a very negative way by analysts and the market, who consider these categories of mainstream investors as the only ones capable of transforming speculation into a consolidated value.
All those who had tasted the forbidden fruit of the cryptocurrency remain, today in search of other similar assets, with the idea of being able to ride the next wave of growth. Among other things, the last problem of Bitcoins was the substantial bankruptcy for the other money function, that is, as a means of payment. In practice, there is no one who goes shopping with Bitcoins (or who accepts them as a payment instrument), creating a problem of substance for their growth.
Here, then, come the Altcoin or criptovalute bonsai. Behind it are different algorithms and protocols, some that enhance security, others designed to optimize digital extraction, others to deal with their record ability. They affect market subsets, compared to the more ecumenical approach that characterized the phase of growth of bitcoins, but are nevertheless rooted in some particular areas. However, they suffer from certain volatility and are almost never used as a real payment instrument. But almost all have the same ambition: to correct the problems highlighted by bitcoins. And, as happens in the software world, sooner or later some of them will succeed. To know more click on profit secret
To do the giant part are the two that cover about a fifth of the market alone: Ethereum and Xrp, with 22 and 17 billion dollars in working capital. On the other side of the cryptocurrency arc are the least used and least liquid: Anarchist Coin and Crypto Ping. On the other hand, they are driven by the need for new innovation in this sector, especially by rethinking and improving the mechanism of blockchains, which can actually be built in many ways.
But there is only one signal that one of these coins really can do it: becoming the de facto standard for online payments, the “network currency”, and the most used digital cryptocurrency. Bitcoins were in position to reach this requirement but are losing the domain position they had partially achieved. According to some, although this was the goal of Bitcoins, the project would have been conceived and created too soon, when too many technologies are still missing to achieve a good balance.