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Altcoins Coins The Future is Now Enjin Dogecoin Polygon Matic Ada: blockchain technology series
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About this ebook
Ever heard about Altcoins or fully understood what these coins are all about? This book explains in a nutshell what altcoins are, highlights some of the most popular options available, and tells potential investors about a few key things they should keep in mind before investing in these coins.
Cryptocurrency is a digital currency that uses cryptography for security. It can be used to make secure transactions online or offline. Smart Contracts are programs that run on the blockchain network without any central authority. They allow users to create their applications with no middlemen. Private Keys are cryptographic key pairs that control access to your cryptocurrency wallets. We will also look at what is meant by staking a coin.
In this book, we explore the world of altcoins with a closer look at some of the coins that I expect to enjoy rapid growth during the next year or so. These coins are Enjin and Matic Polygon and we will take closer looks as to why I expect rapid growth for these two coins. If you would take the time to check out my first book on the subject of cryptocurrencies, a book about bitcoin. I took a close look at Etherum when it was under ten dollars and Cardano Ada when it was under five cents and those who invested in those coins at the time and did not sell too soon are doing very well for themselves today.
LanguageEnglish
Publisherrodney cannon
Release dateOct 19, 2021
ISBN9798201124601
Author
rodney cannon
Mr. Cannon is a well known blogger in the areas of screenwriting and low budget film making. He operates blogs on the subjects of iphone film making, digital film making, found footage and micro budget film making.
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Altcoins Coins The Future is Now Enjin Dogecoin Polygon Matic Ada - rodney cannon
CHAPTER ONE UNDERSTANDING ALTCOINS
There is no doubt that cryptocurrency trading is a lucrative investment, which came into existence with the invention of Bitcoin. Over time, bitcoin has ceased being the sole investment tool in the crypto market. Never heard about altcoins or fully understood what these coins are all about? If that's right, congratulations on coming to the right place. This book explains in a nutshell what altcoins are, highlights some of the most popular options available, and tells potential investors about a few key things they should keep in mind before investing in these coins. Without further ado, let's begin with what are altcoins?
What Are Altcoins?
The word altcoin
was coined from the phrase alternative coins,
crypto coins to be precise. Altcoins are thus alternative coins to Bitcoin(BTC). Essentially any cryptocurrency that is none other than Bitcoin is considered an altcoin. These coins have BTC characteristics even though they are also different from the cryptocurrency in other ways. For instance, some coins use a different mechanism to validate transactions and generate blocks.
Top 5 Most Popular Altcoins
Over 5000 different altcoins exist today. Notably, not all coins are great as some have shown disappointing performances. As such, an investor who wants to invest in the crypto market by way of these coins needs to first know which coins are great and which ones are worth avoiding. To make your work easy, I've listed the top 5 most popular coins in 2021, any of which you can consider, depending on their properties:
1. Cardano
Cardano was created by a guy called Charles Hoskinson, who is also a co-founder of Ethereum, and released in 2017. At the time of writing this chapter, this altcoin was selling at $2.9412 per coin. The coin has a market capitalization of $94.141 billion. Its year-to-date(YTD) return is 1,300%.
2. Ethereum
Developed by Ethereum Foundation, EthereumJS, OpenEthereum, Nethermind, and Hyperledger, Ethereum was released in mid-2015. The current value of this altcoin is $3,935.75 per coin whereas its market capitalization(the total value of all the coins combined) is $461,420,199,100.09. This crypto recorded an average mean annual return of 2383.2% between 2017 and 2020. That means if you invest some $1000 in it, you would make at least $5444 yearly, during
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