Bitcoin Could be Outshined by DasCoin and Other Altcoins
In recent months, it’s impossible to be constantly surfing the internet and social media without knowing about cryptocurrency and the new changes in financial technology. In 2018, most of the people in the world had already accepted cryptocurrency, with various financial institutions trying to establish legal grounds and parameters around it.
Bitcoin, created by Satoshi Nakamoto, is arguably the most famous digital currency; which topped every other currency. Bitcoin is the main reason why every other currency is just called an “altcoin” or “alternative coin”; since altcoins were considered to be just an alternative to Bitcoin. Bitcoin’s dominance in 2017 came to a screeching halt in January of 2018. Its market value plummeted and a lot of the people who put money in Bitcoin were staggering to find a new currency to support instead.
Altcoins like DasCoin, Ethereum, NEO and others were sought out, since they had solutions embedded into their coins. While Bitcoin was the cryptocurrency equivalent of a fiat currency, most altcoins were more creative about their coin value and offerings. Being the underdog, altcoins could take their time and being more recent, they could easily find solutions that weren’t solved by other cryptocurrencies.
DasCoin and other Altcoins are the Future
People are relying on the long-term value of the altcoins because of the fact that not every pioneer product in a certain industry becomes the most stable. Bitcoin, as a pioneer, has become a benchmark value but it offers a less creative solution than the altcoins with better blockchain technology as their backing.Because altcoins can launch any time after, they can take from the mistakes and failures of other currencies and promote improved systems.
Ethereum is known for its smart contracts, DasCoin is known as the cryptocurrency of trust, and other altcoins have a similar branding behind their currency names. Most ICOs or Initial Coin Offerings from various companies employ the use of smart contracts, a blockchain technology from the altcoin Ethereum. There are altcoins being developed to carry certain innovations, and people are always excited to find out more about them.
While Bitcoin is mostly used as trade currency, all the other altcoins have values that go beyond their trade or market value. A lot of people are aware of this, and they have kept an open mind about the value of the other altcoins.
Spotlight Shines on Altcoins
Trade sectors have been considering the value of cryptocurrency for a long time. Recent trends of security tokens that aim to tokenize assets are holding a big promise for the future of the financial technology industry. As more exchanges are recognizing the trade values of cryptocurrency, more are also seeking for compliance and regulations to promote the safety of all investors and traders.
This means that all currencies after Bitcoin will have the chance to prove their worth. As Bitcoin’s current value is nowhere near its heights in 2017, investors and cryptocurrency enthusiasts are looking at other altcoins to support. With time, eventually the market value will catch up to the altcoins’ inherent real-world application and solutions.